3.5 CPE Taking this course will provide an end to end view of the corporate planning and budgeting process - from the strategic plan to the operating budget. Special consideration is given to key elements of successful strategic plans, flexible budgeting, identification of investment opportunities, budgeting best practices, and techniques to improve the quality of forecasts.
Topics include:
- Strategic Planning
- Strategic Planning Tools and Techniques
- Budgeting Concepts
- Correlation and Regression
- The Learning Curve
- Budget Methodologies
- The Operating Budget
- Capital Expenditure and Cash Budgets
- Top Level Planning and Analysis
The content covered in this course provides a pathway to developing your analytical and critical-thinking skills and closing skills gaps in a variety of relevant topics.
Learning Objectives
- Explore how strategic planning determines the path an organization chooses for its long-term goals.
- Identify the appropriate time frame and the characteristics of successful strategic plans.
- Explore Michael Porter’s 5 forces model.
- Explore Michael Porter’s generic strategies of cost leadership, differentiation and focus.
- Identify the internal and external factors that should be analyzed during a SWOT (strengths, weaknesses, opportunities, and threats) analysis, and discover how the analysis leads to recognition of organizational opportunities, limitations, and threats.
- Explore and recognize how to use the following tools: Situational analysis, competitive analysis, PEST (political, economic, social, and technological) analysis, scenario planning, contingency planning, and the Boston Consulting Group (BCG) Growth-Share matrix
- Identify the role of executive management in the budget process.
- Identify who should participate in the budget process.
- Explore and recognize how management uses budgets to motivate, control, communicate, and influence.
- Identify best practices in the budget process.
- Explore an overview of business forecasting and statistical forecasting.
- Explore learning curve analysis.
- Identify the purpose, time frame, appropriate use, benefits and limitations for: Annual profit plan/master budgets, project budgets, activity-based budgets, zero-based budgets, continuous budgets, static and flexible budgets.
- Identify and recognize how to develop the components of the annual profit plan’s operating budget: Sales forecast and sales budget, ending inventory levels and production budget, manufacturing budgets (direct materials, direct labor, and overhead), cost of goods sold budget, and expense budgets.
- Explore a capital expenditure budget and a cash expenditure budget.
- Explore the use of standards in budgeting.
- Identify the steps that are taken in developing direct material and direct labor standards.
- Explore the accumulation and flow of costs in raw materials, work in process and finished goods.
- Identify cost of goods manufactured and cost of goods sold.
- Identify prime and conversion costs.
- Identify the purpose of and recognize how to prepare the following pro forma financial statements: Income statement, statement pf change in stockholder equity, balance sheet, and statement of cash flows.
Last updated/reviewed: March 19, 2024
155 Reviews (840 ratings)
Reviews
Charles Jones
(Sr. Financial Controlling Manager at Alpla, Inc.)
The lectures were delivered well. The slides were way too sparse relative to the material covered verbally. The video for one of the units started somewhere past the middle of the deck and never covered the first half at all, although the final exam actually had a question pertaining to this portion which also happened to assume something that must have been meant to be covered in the lecture that was not at all available in the sparse slides. I could only guess at what answer was correct.
Anonymous
(Controller)
This is a good (broad) overview on the subject for someone who has never been through the corporate budgeting process but it is highly theoretical and simplified, so I have doubts about its practical value. Highly doubtful someone who's never been through the process in a real environment could take what they've learned in this course and create a sufficient budget and pro forma statements. Also, the video skipped out on valuable information during the Budget Methodologies section.
Anonymous
(Consultant)
There is a lot of concepts and ideas included in the course however it would have been nice had the material been consolidated into one PDF instead of individual lesson plans. This way it would be easier for a person to go to a specific section of the course if they want to refer back to the matter at a later date.
Anonymous
(Payroll Manager)
This was a good course that covered a lot of material related to planning, budgeting and forecasting. This was an area that I was fairly unfamiliar with when starting the class and I feel that the instructor provided a good overview of how these functions operated within a corporate setting.
Anonymous
(VP, WFM and BusTech)
A good refresher course for many components, particularly less seldom-used methodologies in my day-to-day world (e.g., correlation and regression analysis). The presenter articulated the concepts in an engaging way, and the course materials were detailed and included meaningful examples.
Anonymous
(Controller)
This is a great review of various budgeting and planning processes. It does provide a good framework of these strategies so that if you and not aware of these processes that you can talk about them and understand what people are talking about when they come up.
Kathleen Busk Varas
(Principal Financial Consultant at V Ventures Consulting)
Well and logically presented. Learned about things that believed already know which was great; in listening, found it fascinating to follow the full process with a great balance between big picture and detail and this will be very helpful going forward.
Anonymous
()
This was a great crash course in budgeting and strategic planning principles. Tom did a great job of linking different strategies and business practices to create a direct and unified approach to business planning at all levels of the organization.
Anonymous
(CFO)
This was a great overview and review of corporate budgeting concepts (including a few things I had forgotten). It's geared slightly more toward manufacturing, but most of the course is applicable to those of us in retail and service businesses too.
Parker Forge
(Financial Analyst at Stryker)
This course was a very helpful refresher in Planning, Budgeting and Forecasting. I'm currently going through this part of the year at my company, so was good to remember some of the things I'd forgotten. Great summary of the key concepts as well!
Anonymous
()
The recorded audio lecture did not cover some materials from the slides, which were tested in the final exam. It would also be good if the instructor uses more examples/case studies in the lecture instead of covering just theories and concepts.
Tiffany Miller
( at ADP)
This is an excellent refresher course that I would recommend. It is a good suggestion to keep the slide materials for future reference and is also great for recertification of the CPP. I highly recommend this course.
Brett Walker
( at WANRack, LLC)
Informative online course offering concise and valuable insights into Corporate Planning, Budgeting, and Forecasting. A must for professionals seeking comprehensive knowledge in strategic financial management.
Anonymous
(Payroll Analyst)
This is a very interesting course on budgeting and planning. It can be useful to those that plan budgets but also those that need to adhere to budgeting as it gives insight into how company goals can be met.
Todd Williamson
( at CPChem)
The speaker is knowledgeable about the topic. A good understanding of basic accounting principles should be a prerequisite for this course as it is at a deeper level than a purely introductory course.
Anonymous
(Not Provided)
The course is very conveniently splitted in short modules and review tests. This helps to keep pace in learning. Final exam questions are challenging enough. Overall, great overview course.
Anonymous
(Mgr, Accounting/Reporting, Internal Repo..)
This course was a very helpful refresher in Planning, Budgeting and Forecasting. It gives good examples as it goes along through the sections. It accomplished all of the stated objectives.
Thomas Simkiss
(Director of Cloud Solutions at Creoal Consulting)
Very good course. The pace was perfect for the materials presented and the speaker presented the materials in a concise, yet easy to understand fashion. I highly recommend this course.
Anonymous
(CFO)
Decent course, goes over a lot of the concepts taught in lower division college courses on analysis, strategy, and budgeting. Slides are useful in helping to prepare for the final review.
Anonymous
(Private Equity Accountant)
Class was a good one. Well taught slides were useful for review but separated into multiple files. Maybe make the slide slow just one PDF for ease of reviewing and following the lecture.
Anonymous
()
very complete overview of CMA concepts. Could improve on the wording of the definitions and terms, also making examples more interesting and easier to retain (vs. pure textbook language)
Christina Woodward
( at ZoroHR, LLC)
Thank you, this course was great. I felt like it covered everything necessary and provided me with the tools to pass the exam at the end. Overall I would recommend this to a colleague.
Anonymous
(Finance and IT Consultant)
This course is excellent. Among a variety of concepts, it gives a wide coverage of the concepts of costing, the related components, and how they integrate into the budgeting process.
Anonymous
(Owner)
Given how critical the budgeting/forecasting role plays in todays business this was a great refresher course on many of the basic terms and definitions. Well thought out presentation
Anonymous
(CFO)
This course provided several examples and details for the overall Planning, Budgeting and Forecasting process. The detailed examples were helpful in explaining the various concepts
Anonymous
()
The teaching of calculations (e.g. learning curve) needed to be more in-depth. Felt like it wasn't covered enough in the course materials to be tested how it was in the final exam.
Natalia Lippold
(Certified Payroll Professional at Trivantus, Inc.)
This was a good refresher course for subjects that I don't use on a daily basis in my work. I want to keep up with the topics, even though I don't use them regularly. Thank you.
Anonymous
(Accountant)
A lot of high level overview. This course covers a lot of topics and gives some introductory information in each. It provides a good starting point or many of the concepts.
Anonymous
(Sr Financial Reporting Analyst)
The course flowed fairly logical. It is most appropriate for beginning to intermediate budget professionals and for CMA exam students. Not as detailed as I was hoping.
Anonymous
(Controller)
I thoroughly enjoyed this course; as someone moving into the world of corporate budgeting and forecasting, I found many of the budgeting best practices to be great.
Anna Poselenova
( at Junior's)
This was my first time taking a class with Tom, he was clear and efficient and provided just the right amount of information, it was well structured and presented.
Anonymous
(VP, Corporate Controller)
The slides did not provide a lot of the concepts discussed in the course. It would be helpful if the slides are clearer and includes the concepts discussed.
Anonymous
(Director of IT)
This was a great overall budgeting review. The course covered everything from basic to more advanced models as well as strategy. The presenter was great.
Anonymous
(Controller)
Felt like some questions on the exam weren't covered at all in the presentation, so there are some holes. Presenter was good and course is organized well.
Anonymous
(Controller)
This course was a good review of topics I learned in college. They mean more now because I'm actually using the concepts. Interesting and well taught.
Anonymous
()
This was my first class in budgeting and I found the concepts were laid out well and explained thoroughly. The instructor is very clear and well spoken
Anonymous
()
This course was great and very detailed and provided relevant examples. Everyone who works in accounting or payroll would benefit most from this course.
Anonymous
(Chief of Operations)
This is a good overview of budgeting and various topics. Some of the topics were challenging. I liked the fact that it was an official CMA course.
Landon McDonald
( at ADP)
This was a great course that detailed best practices for budgeting, production planning, SWOT analysis, BCG Growth matrix and other great concepts!
Sarah Anchecta
(ACM Accountant at Houton Methodist)
This course was a wonderful review and learning tool for managerial accounting! I enjoyed the way the topics were presented. It was very helpful.
Corrina Edwards
(Sr. Finance Manager at Gillig)
This course gave a very nice overview of different planning and budgeting concepts. I learned a lot of ideas that I can apply in my organization.
Anonymous
()
This course mainly covers high-level framework and basic theories. Would be more beneficial to include more real life examples and calculations.
Rachael Ashley
(CEO at Access CFO's)
Good overview of the budgeting process, so many of these concepts are used on a regular basis in corporate world, so appreciate the background
Derek Ettinger
( at GP Fund Solutions, LLC)
Solid course that covered a lot of areas. Felt the instructor should have narrowed the breadth and explored each topic area in more detail.
Maya Walker
(Global Controller at Fourth Enterprises)
I really like how the class is organized with review questions throughout the training modules in order to drill in the concepts in chunks.
Anonymous
(CFO)
Very detailed course with significant additional content provided which I plan to save and reference in the future as the occasion arises.
KIM MILLER
( at Miller's Mowing & More)
This webinar contains alot of information. I couldn't access any of the slides that were in the zip drive. Made testing a little harder.
Anonymous
()
i like this teacher as he has a quiz after each section which is good. could have used some war stories or examples to enhance learning
Adam Beard
( at WCF Mutual Insurance Company)
Wish I'd taken this course a couple of months ago. We're nearing the end of the budget/planning process. Got some ideas for next time.
Anonymous
(Controller)
The zip file containing the slides was not working properly. I was able to download but unable to open any of the contents of the folder.
Anonymous
(Accountant)
I really enjoyed this course. I felt like the professor did a good job with his explanation and examples. I enjoyed how it was broken up.
Anonymous
(Owner and Founder)
It was a good course, just a little heavy for my taste. I'm not a budgeting guy, but I love activity based costing and economical terms.
Anonymous
()
Great summary of many basic concepts important to understand in this category. It was the right level of detail that I was looking for.
Anonymous
(Finance Manager)
Good overview of planning, budgeting and forecasting from a cost accounting perspective with insight, examples and tools to utilize.
Anonymous
()
good overview of budgeting process. Also learned some new conceps that I would like to incorporate during our budget process at work.
Anonymous
(Internal Auditor)
There were difficulties with passing the test. Materials are separated into different files. In general, the material is satisfied
Brian Meister
(SVP Corp Compliance & Accounting at ACDI/VOCA)
The course was good, just very long and difficult to stay focused. a lot was covered and difficult to take as an on demand course.
Anonymous
()
This was a very interesting course that provided good foundation material on the various components for planning and budgeting.
Anonymous
(VP of Accounting)
Great course for an accountant that has nothing to do with budgeting and forecasting to learn a little more about the other side
Anonymous
()
Great overview of techniques used for strategic planning and budgeting functions including pros/cons of various approaches.
Louella Stover
( at On the Go Transportation, LLC)
I don't believe the test material is covered adequately in the course materials. Also, I was not able to print the slides.
Bonnie Tomei
(CFO at Salience Labs)
Useful concepts and practical examples that help with learning objective. Tom Coghlan is very articulate and effective.
Anonymous
(Director of Accounting)
Lots of detail and great examples of different components and strategies. PDF materials are great for future reference.
Anonymous
(Controller)
this was one of my favorite classes taken on illumeo in a while. Very good overview of the planning & budgeting process
Anonymous
(Accountant)
General overview. I would have liked if it went deeper into some of the ideas and concepts. Seems mostly for exam prep.
Anonymous
(Sr. Accountant)
No complaints on my part. Nothing groundbreaking was learned but it was a nice review of knowledge learned in college.
Anonymous
(Manager Internal Audit Europe)
This course provide a great overview of fundamentals of management accounting (planning, budgeting and forecasting).
Anonymous
()
Having to open multiple pdfs made it a little more cumbersome to read through but otherwise covered budgeting well.
Anonymous
(Senior Internal Auditor)
This course was very informative and refreshing. The instructor was effective in presenting the course materials.
Anonymous
()
The course was presented in a methodical way. I enjoyed the review questions throughout to help my understanding.
Abi Shirley
(Corporate Controller at Alegion Inc.)
the course materials are not all included in the zip download. i was only able to get slides for 1 of the modules
Anonymous
(Senior Human Resources Systems Analyst)
Very informative course with a lot of information to absorb. Take good notes in addition to the course slides.
Anonymous
()
This is very helpful when planning a budget. Going forward I will use many of the practices mentioned in my job.
Stephen Sylvester
(Freelance Writer at Private)
Instructor was excellent. Personally I found the broad strategic planning much more interesting than budgeting.
Andrew DeLorme
( at Allscripts)
Great program, learned a lot. Challenging subject matter, will definitely revisit to review the subject matter.
Anonymous
(Accounting Manager)
Great course, it's a lot of material and will test you. Interesting topics if you don't do much with budgeting.
Anonymous
(Director)
This had a lot of great budgeting tips and techniques. I like that it covered different areas in this topic.
Anonymous
(Payroll Consultant)
Very informative and not an easy class to pass - great information - will recommend to anyone interested
Anonymous
(HR Director)
I enjoyed this course. I do not have much experience with budgeting, so I learned some valuable tools.
Sealtiel Alvarez Sanchez
(Shared Service Center Manager at Aliaxis)
Recommended class to revisit budget concepts including theories and examples about how to apply them.
Jared Slack
(VP Finance at Fortress Solutions)
Another great course by Tom. Applicable to daily events in an FP&A group as well as prep for CMA exam.
Anonymous
()
Great content that both revisited topics I've dealt with the past and introduced new concepts as well.
Anonymous
(VP of Finance and Accounting)
Good overview of the budgeting and forecasting process, with key takeaways to improve my own process.
Anonymous
()
great course and content to get more familiar with the budgeting and forecasting process. thank you!
Eugene Rura
(Manager Finance at Saputo DF USA)
A good overall review of various aspects of company's budgeting process and main theories around it.
Chukwudinka Mason
(Auditor at National Reconnaissance Office)
This was very informative and I will recommend this to my colleague and friends of similar field.
Scott Anderton
(CFO at HCA)
Appreciated the mathematical models shared and felt the instructor made them easy to understand
Anonymous
(Finance Consultant)
Very thorough content included in this course. Appreciate the material organized for reference.
Dylan Cole
( at Twisted X Inc.)
PDF materials didn't match too much to the test. Please consider this before taking the class.
Susan Nielsen
( at MasterControl)
Very helpful. Similar content to some other topically related other courses on the platform.
Dhaval Doshi
( at JCI)
good overview of budgeting process, looking forward to detailed course on operating budget.
Anonymous
(Controller)
This is a great review of various aspects of corporate planning, budgeting, and forecasting.
Anonymous
(N/A)
Great resource to refer to and comprehensive outline of key principles and best practices.
Hannah Niman
( at Live Nation Entertainment)
Good course lots of topics working budgeting and forecasting discussed. Clear instruction.
DAN ZOU
(Payroll manager at Sinopro International Resources Inc.)
Long webinar, many quizzes to warm up for the final, very well explained, nice wording....
Anonymous
(Finance)
The class is very detailed. It can give an overall picture of actual budgeting process.
Erika Alpiste
( at ADP)
Very informative course into the planning budgeting and forecasting of a business model
Anonymous
(Business Controller)
A great overview (or a refresher) of the Planning, Budgeting and Forecasting process.
Nikita Guskov
(Head of IFRS Department at Uralkali)
The course provided a good walkthrough from top to bottom of the budgeting process.
Sam Grosoff
(Associate at RSM)
I really enjoyed learning about the planning and budgeting aspects of the course.
Anonymous
(Finance Director)
Great material for an introduction to corporate planning budgeting and forecasting
Alex Blonigan
(Consultant at DLC Group)
Good coursework and good refresher of data and information, I will be able to use
Anonymous
()
This was a really good course. I really learned a lot and enjoyed it thoroughly.
Julia Kramer
(Financial Behavior and Leadership Consul.. at Signature Financial Planning)
very practical course. Looking forward to trying different budgeting techniques
Anonymous
(Finance Manager)
Very informative and covered a lot of material. I recommend this course to all.
Anonymous
()
Excellent course to review and get tips on Corp long term planning, budgeting.
Anonymous
()
The downloads do not work and this makes it difficult to review the material.
Anonymous
(Controller)
Very interesting and informative information. insightful and lots of learning
Anonymous
()
Great course! Learned a lot and great course materials. Interesting lectures.
Duojia Chen
( at Enbridge)
the course provide extensive overview for corporate planning and budgeting.
Anonymous
(Accountant)
Great course, clear and concise, would recommend others to take this course
Anonymous
(Director)
nofreeadsfrommenofreeadsfrommenofreeadsfrommenofreeadsfrommenofreeadsfromme
Anonymous
()
Helpful course for understanding the concepts of budgeting and forecasting
Anonymous
(Sr FP&A Analyst)
Strong overview of budgeting process with clear communication of concepts.
Prashant Shah
(Manager-FP&A at jda)
It is really good Course.I recommend each CMA holder to take this course.
Anonymous
(Director Finance)
Nice deep dive into the budgeting process and the alternatives available.
Anonymous
(VP of Payoll)
This was a touch subject for me, but Tom did a good job of explaining it.
Anonymous
()
I was able to learn valuable business analysis. I recommend this course.
Urvi Shah
(Finance Assistant at Osf Digital)
Great learning experience with detailing for each topic so overall good.
Dhaval Kadakia
(Director of Sales at JRC Conventions & Trade Fairs)
Very good refresher!
Must take it every few years. Very good coverage.
Anonymous
(Consultant)
Great overview and refresher on the budgeting and forecasting concepts.
Anonymous
()
Would be helpful to know it is a course in preparation for the CMA exam
Anonymous
()
This was a very detailed and thorough course with effective materials.
Anonymous
(Associate)
Nice course. Very broad in scope but completed the objectives nicely.
Anonymous
(Senior Accountant)
I would recommend this course to any CPA working on their CPE credits.
Anonymous
()
Good overview of the budget process. The materials are really helpful.
Anonymous
(CFO)
greater refresher and overview; instructor did a great job presenting
Syed Kazmi
(Controller at Encompass Capital Advisors LLC)
Somewhat difficult subject needs more explanation and clear concepts.
Robert Godfrey
(CPA at Robert Godfrey, CPA)
I think the instructor put a lot of thought into the exam questions.
Katherine Hart
(None at Not Applicable)
Very informative easy to follow along and practice with the examples
Anonymous
()
Very useful and good primer for understanding the budgetary process.
Anonymous
(-)
This is a good course. It was a helpful overview of many concepts.
Anonymous
(Assistant Controller)
Great overview of planning, budgeting and forecasting. Very useful!
Anonymous
()
Well presented, easy to follow, not dull. Informative and relevant.
Jenna Gudritz
(Lead Financial Analyst at Stryker)
Great course but I could not open anything in the course zip file.
Anonymous
()
Very useful class. I learned alot. Thank you for the information.
Anonymous
()
Good class that covered a lot of material and was very informative.
Anonymous
(Principal)
instructor provided lots of material and examples - easy to follow
Anonymous
()
Great course. Covered a broad array of concepts in great detail
Anonymous
(Payroll Manager)
Alot of information to swallow. Had issues with learning curve.
Anonymous
(Accounting Finance Consultant)
This was for the most part a very succinct and valuable course.
Anonymous
()
Golly! That was tough but I learned a lot! Highly recommend!
Anonymous
()
Great course with high level review of the budgeting process
Anonymous
(Sr. Accountant)
Instructor and provided materials were extremely thorough.
Anonymous
(Senior Financial Analyst)
Material covered the topic well and was easy to follow.
Anonymous
(Assistant Controller)
Very informative course for an intro to these processes.
Anonymous
()
Challenging yet thorough course. Glad that I enrolled.
Katie Landy
(Consulting Director at RSM)
Good planning material and challenging quiz questions.
Anonymous
(Sr. Accounting Manager)
Good overview of the budgeting and forecasting process
Anonymous
(Corporate Controller)
Very well prepared and with a lot of good information.
Amanda Hamner
( at ADP)
awesome job on delivering the information. Thank you.
Tyler Ellens
(Staff Acountant at Evenhouse & Co. P.C.)
Good information with lots of detail and good examples
Anonymous
()
Good course, well structured, fully met objectives .
Anonymous
(Senior Accountant)
Very thorough high level review of budget process
Anonymous
()
I actually recommend this one. Excellent material.
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course. However, it is recommended to take the other courses in the series prior to completing this one.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Tom CoghlanCEO
About Illumeo
Platform
Resources
Contact Us
- Email: info@illumeo.com
- Phone: 408-400-3993
- Adress: 1608 W Campbell
- Av #221, Campbell, CA 95008
© 2024 Illumeo, Inc.