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CPE Self-Study

Budgeting Pitfalls, Part 1

Publisher: AICPA
  • $35.00-$55.00
    Budgeting Pitfalls, Part 1 Online Access Product #: 159886
    CGMA Holder: $35.00
    AICPA Member: $45.00
    Non-Member: $55.00

This two-part course will help you identify and address the many pitfalls that can occur throughout your annual budgeting and planning process. You will explore common budgeting and planning challenges and identify strategies and solutions for generating positive outcomes.

Learning Objectives:

  • Assess the effectiveness of your firm's planning process
  • Explain the benefits of having a well-structured annual planning process
  • Articulate your organisation's mission, strategies, and limitations--and how they impact the budget
  • List the minimum requirements to have an effective budget system
  • Document the various pitfalls in your processes that should be avoided
  • Identify which of the four methods you currently use to develop your operating budget
  • Explain the differences among a forecast, a projection, and a budget
  • Estimate expenses in your operating budget using the organisation's most common methods
  • Develop appropriate rewards, recognition, and incentives to drive ethical and frugal behaviours
  • Implement budget cuts with surgical skill
  • Add continuous improvement into the budgeting and planning processes
  • Assess the quality of the organisation's variance reporting.
  • Work with the organisation's leaders to build a culture of accountability
  • Start to define the specific responsibilities of each person in the budget process

Prerequisites: Budgeting Mechanics (Recommended)
Advance Preparation: None

CGMA designation holders qualify for discounted pricing on this product. In order to receive your special pricing, you must be registered and signed in. View the complete list of development products available on CGMA.org.

System Requirements

About the Publisher

AICPA

About the AICPA The American Institute of CPAs is the world’s largest member association representing the accounting profession, with more than 412,000 members in 144 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting. The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialty credentials for CPAs who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. Through a joint venture with the Chartered Institute of Management Accountants, it has established the Chartered Global Management Accountant designation, which sets a new standard for global recognition of management accounting.