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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: June 4, 2021

66 Reviews (337 ratings)Reviews

4
Anonymous Author
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.
5
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.
5
Anonymous Author
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.
5
Anonymous Author
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.
5
Anonymous Author
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.
5
Member's Profile
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!
5
Anonymous Author
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.
3
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.
3
Member's Profile
I felt that this was very much an overview and covered too much material in too little time. I feel many of the items needed a deeper explanation and more examples, they felt rushed and glossed over.
5
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.
5
Member's Profile
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.
4
Anonymous Author
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.
5
Member's Profile
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.
3
Anonymous Author
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
4
Anonymous Author
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.
5
Member's Profile
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.
4
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.
4
Anonymous Author
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5
Member's Profile
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.
5
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
5
Anonymous Author
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.
5
Member's Profile
This was a great course that detailed best practices for budgeting, production planning, SWOT analysis, BCG Growth matrix and other great concepts!
3
Anonymous Author
The materials covered were very basic and some questions in the final exam were not covered in the lecture. The instructor was very clear though.
5
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.
4
Member's Profile
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4
Member's Profile
Solid course that covered a lot of areas. Felt the instructor should have narrowed the breadth and explored each topic area in more detail.
4
Anonymous Author
Very detailed course with significant additional content provided which I plan to save and reference in the future as the occasion arises.
3
Member's Profile
Questions more in depth on the final exam disconnected from review questions. What I thought I should review did not match the exam.
3
Member's Profile
Course and test was not very connected. Course was informative and detailed, useful, test questions could be better prepared.
5
Member's Profile
Useful concepts and practical examples that help with learning objective. Tom Coghlan is very articulate and effective.
5
Anonymous Author
Lots of detail and great examples of different components and strategies. PDF materials are great for future reference.
4
Anonymous Author
This course provide a great overview of fundamentals of management accounting (planning, budgeting and forecasting).
5
Anonymous Author
This course was very informative and refreshing. The instructor was effective in presenting the course materials.
5
Member's Profile
Instructor was excellent. Personally I found the broad strategic planning much more interesting than budgeting.
4
Member's Profile
Great program, learned a lot. Challenging subject matter, will definitely revisit to review the subject matter.
4
Member's Profile
Recommended class to revisit budget concepts including theories and examples about how to apply them.
4
Anonymous Author
Good overview of the budgeting and forecasting process, with key takeaways to improve my own process.
4
Member's Profile
A good overall review of various aspects of company's budgeting process and main theories around it.
5
Member's Profile
This was very informative and I will recommend this to my colleague and friends of similar field.
5
Member's Profile
Appreciated the mathematical models shared and felt the instructor made them easy to understand
5
Member's Profile
Long webinar, many quizzes to warm up for the final, very well explained, nice wording....
5
Anonymous Author
The class is very detailed. It can give an overall picture of actual budgeting process.
5
Anonymous Author
A great overview (or a refresher) of the Planning, Budgeting and Forecasting process.
5
Member's Profile
The course provided a good walkthrough from top to bottom of the budgeting process.
5
Member's Profile
Good coursework and good refresher of data and information, I will be able to use
3
Anonymous Author
Helpful course for understanding the concepts of budgeting and forecasting
4
Anonymous Author
Strong overview of budgeting process with clear communication of concepts.
4
Member's Profile
It is really good Course.I recommend each CMA holder to take this course.
4
Anonymous Author
This was a touch subject for me, but Tom did a good job of explaining it.
5
Member's Profile
Very good refresher! Must take it every few years. Very good coverage.
5
Anonymous Author
Great overview and refresher on the budgeting and forecasting concepts.
4
Anonymous Author
Would be helpful to know it is a course in preparation for the CMA exam
4
Anonymous Author
Nice course. Very broad in scope but completed the objectives nicely.
5
Member's Profile
I think the instructor put a lot of thought into the exam questions.
5
Anonymous Author
Great overview of planning, budgeting and forecasting. Very useful!
5
Anonymous Author
Great course. Covered a broad array of concepts in great detail
5
Anonymous Author
Golly! That was tough but I learned a lot! Highly recommend!
4
Anonymous Author
Great course with high level review of the budgeting process
5
Anonymous Author
Instructor and provided materials were extremely thorough.
5
Anonymous Author
Material covered the topic well and was easy to follow.
4
Anonymous Author
Challenging yet thorough course. Glad that I enrolled.
5
Member's Profile
Good planning material and challenging quiz questions.
5
Anonymous Author
Good overview of the budgeting and forecasting process
5
Member's Profile
awesome job on delivering the information. Thank you.
5
Anonymous Author
Good course, well structured, fully met objectives .
5
Anonymous Author
Very thorough high level review of budget process

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 .
Course Syllabus
INTRODUCTION AND OVERVIEW
  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
  quizREVIEW QUESTIONS: 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
CONTINUOUS PLAY
  2:17:11Corporate Planning, Budgeting, and Forecasting
SUPPORTING MATERIALS
  ZIPSlides: Corporate Planning, Budgeting, and Forecasting
  PDFCorporate Planning, Budgeting, and Forecasting Glossary/Index
REVIEW AND TEST
 examFINAL EXAM