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Product ID: 407761EAU
 
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HR Budgeting: Translate Your Goals Into Revenue Terms

OnDemand Webinar (86 minutes)

Gain an insight on key concepts and issues surrounding the HR budget process.The word "budget" often evokes many emotions - fear, intimidation, frustration, boredom, and even anger. The thought of having to quantify or justify every HR activity can be overwhelming, but it does not have to be. In this topic, you will learn to harness the power of budgets by developing a well thought out financial plan that guides your department through the upcoming months and years. Once you understand the budgeting process, you can create an effective and empowering budget that will wow your boss!

Authors

Wendy Dutenhoeffer

Agenda

Purpose of Budget

• Fundamental Purpose

• Secondary Purpose

• Compliance

• Management Tool

Types of Budgets

• Short-Term

• Long-Term

• Capital

• Ad-Hoc

• Zero-Based

• Historical

• Combination

Budget Cycle

• Never-Ending Process

• Formulation

• Monitoring

• Variance Analysis

• Goals, Trends, Findings

Forecasting

• Types of Expenses

• Benchmarking

Variance Analysis

• What Causes Variances

• How to Find Variances

• To Act or Not to Act

Accounting's Role in Budgeting