How Covid-19 Broke Traditional Budgeting and What You Should Be Doing Instead
Does your organization often find itself trapped in an operating budget developed for an expected future that will not happen? What do you do when reality strikes and all those hours spent negotiating targets have been overcome by uncertainty? This was the reality for many organizations in 2020, as COVID-19 broke their traditional budgeting process. The year 2021 looks just as chaotic and uncertain as 2020. This session will show you how current budgeting practices (based on concepts from the 1920s) are permanently broken. Even better, it will show you how leading-edge companies have already found and implemented new ways to plan effectively in the 21st century. Come see how to develop an excellent FP&A function.
Learning Objectives:
Upcoming date:
Does your organization often find itself trapped in an operating budget developed for an expected future that will not happen? What do you do when reality strikes and all those hours spent negotiating targets have been overcome by uncertainty? This was the reality for many organizations in 2020, as COVID-19 broke their traditional budgeting process. The year 2021 looks just as chaotic and uncertain as 2020. This session will show you how current budgeting practices (based on concepts from the 1920s) are permanently broken. Even better, it will show you how leading-edge companies have already found and implemented new ways to plan effectively in the 21st century. Come see how to develop an excellent FP&A function.
Learning Objectives:
- Identify outdated budgeting practices that no longer work
- Determine the best budgeting practices to plan effectively in the 21st century
- List how to develop an excellent P&A function
Upcoming date:
- Jun 25, 2021 12:00pm-1:00pm EST, 1 Hour CPE
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