Overview
The budgeting process can be a time consuming and frustrating process for accountants. The constraints and pressures can lead to poor decisions in both the technical and human components. This session will cover:
Avoiding Budget People Issues: Managing Budgeting’s Soft Side
• Financial plans have a technical component and human component. We can resolve some of our budget issues by exploring the process’ human aspect. This session includes a case study that measures an individual’s personality type and then explores how to use our strengths and weaknesses to create to a better plan.
Prerequisites
None
Objectives
- Define the budget process
- Understand varying budget cultures and choosing the right one for your organization
- Walk through a 12-step cure for the typical Budgetaholic
- Use Balanced Scorecard Budgeting
- How to build a model that works
- How the right Chart of Accounts can simplify your work
- Building a volume sensitive model
- Budgeting to GAAP and for Board understanding
- Efficiently modeling payroll and benefits
- Identifying controllable and uncontrollable expenses
- Using variables to stress test your budget
- Understanding core personality types
- Learning the type of person you are
- Managing and coping with the budget team
- Dealing with A, B and C players
- Connecting through disconnection
- Identifying the ‘big picture” and your communications role
- Communicating so others can understand us
- Understanding a presentation’s anatomy
- Tips and tricks for budget presentation
Highlights
- Budget defining,
- Budget cultures
- Tacticle budget issues
- Ideas for budget solutions and process solutions
- Understanding people in the budget process
- Communicating your budget to non financial types
