10 Steps to Successful Budgeting

by Lianabel Oliver, Eduardo Nin

Overview

Calculate for Business Success

The budgeting process may produce anxiety, but it can be managed. The keys are planning, organization, documentation, preparation, and follow-up. The essence is plan first, budget later.

10 Steps to Successful Budgeting walks you through the fundamentals, explaining your role in your organization’s planning and budgeting process. Authors Lianabel Oliver and Eduardo Nin start with a macro perspective, providing an overview of the planning and budgeting process and how it is typically structured within an organization. They then move to preparing a sound budget and defending it to the next level of management. Their combined experience of over 30 years in planning and budgeting will help you navigate this process successfully. The authors’ simple, clear explanations and true-to-life examples of budgets and planning tools will help you clarify your departmental spending needs for yourself and others.

Each planning and budgeting cycle, the authors explain, represents an opportunity for change. It is a chance to revisit the old and embrace the new. The budget is not something to fear on your to-do list, but a time to reexamine who you are, what you do, and how you can use your resources more effectively.

Product Details

ISBN-13:	9781947308879
Publisher:	Association for Talent Development
Publication date:	01/15/2019
Sold by:	Barnes & Noble
Format:	eBook
Pages:	144
File size:	842 KB

About the Author

Lianabel Oliver, MBA, CPA, CMA, is the founder and CEO of OBALearn, an online learning company that empowers professionals with financial concepts to make better business decisions. With over 23 years of experience in management training and consulting, she is a recognized expert in the fields of strategic planning, budgeting, cost management, and accounting. Over the years, she has designed and facilitated financial training programs for many Fortune 500 companies and professional associations. Lianabel has participated as a speaker in many national and international conferences. She is the author of Designing Strategic Cost Systems: How to Unleash the Power of Cost Information (2004) and The Cost Management Toolbox (2000). Her most recent publications include “Preparing and Defending Your Training Budget” (TD at Work, December 2017) and “Financial Skills That Every Manager Should Have” (TD Magazine, June 2018). Lianabel holds an MBA from Stanford University and a B.A. from Yale University. She is a certified public accountant (CPA) in the Commonwealth of Puerto Rico and a certified management accountant (CMA) by the Institute of Management Accountants (IMA). Eduardo A. Nin, CPA, MBA, is a seasoned financial expert and consultant with experience in high-volume manufacturing, process improvement, strategic planning, business start-ups, and personal finance. He has worked with organizations such as Hewlett Packard, Baxter Healthcare, and Coopers & Lybrand, among many others. He also developed and facilitates courses on planning and budgeting for the nonprofit Asesores Financieros Comunitarios and speaks in many public forums on these topics. Eduardo has a BBA from the University of Miami and an MBA from the University of Pennsylvania. He is a member of the Puerto Rico State Society of CPA.

Table of Contents

Table of Contents:Step 1: Know the purpose of planning and budgetingStep 2: Know the planning and budgeting cycle Step 3: Know the elements of an operating budget Step 4: Communicate budget requirements and obtain commitment Step 5: Analyze the operating environment for your areas of responsibility Step 6: Develop short-term objectives, strategies, and tactical plansStep 7: Prepare Your Departmental Spending Budget Step 8: Obtain Approval for Your Budget Step 9: Communicate Plans and Priority Projects Step 10: Review performance against plan and ACT!