The Financial Planning and Control competency focuses on a company’s short-term and long-term financing needs based on available financial and operational information. This is the sixth in a series of eight accounting competencies and should be taken after Accounting for Managerial Decisions.

COMPETENCY OBJECTIVES

Upon successful mastery of this competency, you will be able to:

• Develop a forecast of short and long-term financing needs and pro forma financial statements.
• Prepare a budget and use variance analysis to evaluate performance.
• Demonstrate knowledge of standard costing and variances.
• Perform profitability and cost analyses of businesses and business segments.
• Construct a balanced scorecard for strategic planning and control purposes considering both quantitative and qualitative data.