With new accounting standards, the economic landscape and evolving technology, accounting, financial reporting and finance continue to grow in complexity. FASB has tried to address the growing complexity, by working towards making GAAP less convoluted.

The struggle to stay on top of accounting financial reporting requirements and finance changes due to the economy continues for several reasons:

  • Lack of in-house SMEs.
  • Managing high volumes of transactions, and data and evolving information technology systems.
  • Challenge of navigating and applying accounting standards.

In the future, executives must consider the challenges they will face in future years that will bring their own nuances and complexities. Budgeting is certainly one of those processes that must be evaluated and re-evaluated for efficiency.

This session delves into the corporate budgeting process and discusses methods used and which methods may or may not allow for organization’s to properly plan for a volatile future.

Learning Objectives
  • Explore and examine top challenges/opportunities.
    • Evaluating budget uncertainty
  • Discover and examine the types of budgeting processes.
    • Incremental
    • Activity-based
    • Value proposition
    • Zero-based
Last updated/reviewed: March 14, 2024
2 Reviews (7 ratings)

Reviews

5
Anonymous Author
This course provided a good overview of various types of budgeting. The instructor did an excellent job of explaining the various types of budgeting and the advantages and disadvantages of each.

5
Anonymous Author
Good overview of the differences of the various budgeting approaches.

Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
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 .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Addressing budget uncertainty4:52
  Evaluating Budgeting Uncertainty8:58
  Incremental Budgeting5:32
  Activity Based Budgeting2:28
  Value Proposition Budget7:04
  Zero Based Budget7:54
  Create a Zero-Based Budget12:32
  Other Methods5:40
  Summary1:28
CONTINUOUS PLAY
  The Controllership Series: Budgeting in Uncertain Times56:28
SUPPORTING MATERIAL
  Slides: The Controllership Series: Budgeting in Uncertain TimesPDF
  The Controllership Series: Budgeting in Uncertain Times Glossary/ IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam