Instructor for this course

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: November 15, 2019

20 Reviews (104 ratings)Reviews

Member's Profile
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.
Member's Profile
The course provided a good walkthrough from top to bottom of the budgeting process.
Anonymous Author
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.
Member's Profile
The course is basic, if you do not have experience or training in this area it provides a good foundation. If you are trying to expand your current knowledge base it may come in a little below expectation.
Anonymous Author
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 Author
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 Author
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 Author
Lots of detail and great examples of different components and strategies. PDF materials are great for future reference.
Anonymous Author
This course provide a great overview of fundamentals of management accounting (planning, budgeting and forecasting).
Anonymous Author
Good overview of the budgeting and forecasting process, with key takeaways to improve my own process.
Member's Profile
Long webinar, many quizzes to warm up for the final, very well explained, nice wording....
Anonymous Author
The class is very detailed. It can give an overall picture of actual budgeting process.
Member's Profile
It is really good Course.I recommend each CMA holder to take this course.
Anonymous Author
Great course. Covered a broad array of concepts in great detail
Anonymous Author
Golly! That was tough but I learned a lot! Highly recommend!
Anonymous Author
Great course with high level review of the budgeting process
Anonymous Author
Material covered the topic well and was easy to follow.
Member's Profile
Good planning material and challenging quiz questions.
Anonymous Author
Good overview of the budgeting and forecasting process
Anonymous Author
Very thorough high level review of budget process


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

Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
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 .
Course Syllabus
  14:06Introduction to Corporate Planning, Budgeting, and Forecasting
  quizREVIEW QUESTIONS: Strategic Plan and the Planning Process
  9:022 The Market and Competitive Advantage
  quizREVIEW QUESTIONS: The Market and Competitive Analysis
  3:353 SWOT Analysis
  9:254 Strategic Planning Tools and Techniques
  7:355 BCG Growth-Share Matrix
  quizREVIEW QUESTIONS: BCG Growth Share Matrix
  14:026 Budgeting Concepts
  quizREVIEW QUESTIONS: Budgeting Concepts
  8:057 Budgeting Best Practices
  10:118 Correlation and Regression
  quizREVIEW QUESTIONS: Correlation and Regression
  6:109 The Learning Curve
  quizREVIEW QUESTIONS: The Learning Curve
  5:3410 Budget Methodologies
  quizREVIEW QUESTIONS: Budget Methodologies
  11:2811 The Operating Budget
  quizREVIEW QUESTIONS: The Operating Budget
  11:0712 Setting Standards
  8:2413 Inventory Cost Flows
  18:2714 Captial Expenditure and Cash Budgets
  15:3115 Pro Forma Financial Statements
  2:17:11Corporate Planning, Budgeting, and Forecasting
  ZIPSlides: Corporate Planning, Budgeting, and Forecasting
  PDFCorporate Planning, Budgeting, and Forecasting Glossary/Index