Budgeting for Efficiency
Another title for this seminar could be financial planning. Financial plans are incorporated into business plans and these financial plans include revenues and costs. Cost budgeting, which concerns the allocation of resources within the business firm, is not efficient as it is currently practiced by accountants, financial analysts, and CFO’s. Budgeting for efficiency is about how to allocate costs across a more detailed list of expenditures in such a manner that costs are minimized. If costs are minimized the budget allocation is efficient. If the budget allocations is efficient costs are minimized. In this sense the budget allocation is optimal.
In this webinar we examine the problem of constructing budget allocations that are efficient. We demonstrate how to estimate and forecast cost budgets that minimize costs (or maximize output for the same level of cost).
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The Boston Forecasting Research Institute, Forecasting, Economic Forecasting, Macroeconomic Forecasting, Business Forecasting, Forecasting for Business, Business Planning, Strategic Planning, Business Analytics, Marketing Analytics, Predicitve Analytics, Forecasting Research, Budgeting for Business, Financial Planning for Business, Optimal Budgeting for Business