An Intensive 5-day Training Course
Advanced Budgeting & Forecasting
Driving Financial Performance through Effective Budgeting & Forecasting Techniques
CLASSROOM DATES
INTRODUCTION
This EuroMaTech Advanced Budgeting & Forecasting training course provides an overview of the essential tools and the skills to build world class standards into your planning, budgeting, performance measurement & reporting system, looking at new and best practice techniques, explain how they complement the traditional financial planning tools, and introducing new concepts for measuring and reporting performance to enhance shareholder wealth creation or provide value for money for Stakeholders.
Important elements of this EuroMaTech Advanced Budgeting & Forecasting training include:
- Making your budgeting process more efficient & effective
- Understanding how to motivate managers to “buy into” to the budget process in an honest and effective way
- Using case studies and illustrations from real companies to help delegates understand how to apply different planning, forecasting and analysis techniques
- Participants will also be given a detailed set of handouts that will enable them to review the topics covered at a later date
TRAINING OBJECTIVES
- How to implement advanced planning and control techniques into your budgeting process
- Know how to integrate the budgeting process with the development of the company’s long-term strategic vision
- Know how to provide a decision support structure that provides timely and useful information to decision makers
- Successfully build an integrated planning, budgeting and reporting process
- Know how to forecast costs and revenues with greater confidence
- Apply management tools to the budgeting process that contribute to strategic goals
- Effectively manage the budgeting process
- Identify key performance indicators for effective and focused decision making
- Develop ways to increase profitability and performance through stream lined planning and reporting
WHO SHOULD ATTEND?
- All professionals responsible for budget preparation and management reporting
- All process owners who require a more in-depth understanding of integrated planning and budgeting techniques,
- Personnel wanting to understand more about Financial planning and cost analysis
- Anyone with direct planning and budgeting responsibility, as well as managers, budget holders, advisors, accountants and business consultants
TRAINING METHODOLOGY
Your programme leader will present, guide and facilitate learning, using a range of methods including the use of the programme material, case studies and discussion of “real life” issues in organizations, to ensure the development of skills as well as knowledge
Participants will learn by active participation preparing both budgets and forecasts using a variety of statistical tools and by using budgets to make management decisions.
TRAINING SUMMARY
In today’s fast changing world Organisations need to be able to respond rapidly to the challenges and global changes surrounding them. Advanced Budgeting & Forecasting in an essential part of the success of the organisation.
This EuroMaTech programme provides the essential skills necessary to ensure the successful development of budgeting and forecasting techniques, thereby improving your understanding, development, management and control of budgets within your organization.
TRAINING OUTLINE
Day 1 : Budgets in Today’s International environment
Planning In the Organization
- Organizational Planning and Control Framework
- The Product / Information / Decision Support Cycle
- Strategic, Tactical, and Operational Forecasts
- The recognition of risk in Models
- Using Budget Models for Simulation Purposes
- The Drive toward Shareholder Value (EVA®)
Planning In the Organization
- Organizational Planning and Control Framework
- The Product / Information / Decision Support Cycle
- Strategic, Tactical, and Operational Forecasts
- The recognition of risk in Models
- Using Budget Models for Simulation Purposes
- The Drive toward Shareholder Value (EVA®)
The Strategic Plan
Planning In the Organization
- Organizational Planning and Control Framework
- The Product / Information / Decision Support Cycle
- Strategic, Tactical, and Operational Forecasts
- The recognition of risk in Models
- Using Budget Models for Simulation Purposes
- The Drive toward Shareholder Value (EVA®)
The Strategic Plan
- The purpose of planning and budgeting in business
- Defining the strategic approach to business planning
- Defining strategic assumptions
- Building the strategic planning model using financial data
- Various strategic and tactical approaches to business planning
- Defining the Decision-Support model: Assumptions / Goals and Key Success Factors
Day 2 : Analysing the Historical Data Using Excel®
- Recognizing the Basic Patterns Inherent in Historical Data
- Using the Exploratory Data Analysis Tools Available in Excel®
- Development of Time Series Models using histograms, moving averages, exponential smoothing and regression analysis
- Using Regression Analysis as a predictor and estimator
- Mastering the use of Exponential Smoothing as a Data Analysis tool
- Single Regression vs. Multiple Regression
- Validation of Time Series Analysis
Day 3 : Approaches to Budget Development
Types of Budgets
- Zero Base Budgeting
- Activity Based Budgeting
- Rolling Budgets
- Operational Unit Budgeting
- Programme Budgeting
- Developing the Cash Budget
Types of Budgets
- Zero Base Budgeting
- Activity Based Budgeting
- Rolling Budgets
- Operational Unit Budgeting
- Programme Budgeting
- Developing the Cash Budget
Using Activity based Budgeting
Types of Budgets
- Zero Base Budgeting
- Activity Based Budgeting
- Rolling Budgets
- Operational Unit Budgeting
- Programme Budgeting
- Developing the Cash Budget
Using Activity based Budgeting
- Developing the ABB application model
- Budgeting for Processes rather than Departments
- Defining Key Cost Drivers
- Defining Key Activities
- Development of ABB Cost Standards
- Developing the Activity-Based Budget
Day 4 : Strategic and Operational Cost Analysis Techniques
Types of Costs
- Identifying fixed, variable and semi-variable costs
- Application of Regression in the development of budgets
- Building the financial simulation model using articulated financial statements
- Building the financial simulation model using simulation
Types of Costs
- Identifying fixed, variable and semi-variable costs
- Application of Regression in the development of budgets
- Building the financial simulation model using articulated financial statements
- Building the financial simulation model using simulation
Developing Manufacturing Standards
Types of Costs
- Identifying fixed, variable and semi-variable costs
- Application of Regression in the development of budgets
- Building the financial simulation model using articulated financial statements
- Building the financial simulation model using simulation
Developing Manufacturing Standards
- Material Standard Development
- Labour Standard Development
- Factory and Corporate Overhead Standard Development
- Variance Analysis
Day 5 : Defining and Testing Optimisation Techniques in Models Using Excel®
- Basic Structure of All Optimisation Models
- Different Forms and Applications of Optimization Models
- Developing a Financial Optimisation Model
- Performing Sensitivity Analysis of an Optimisation Model
- Interpreting the Solution of an Optimisation Model to a Non-technical Manager
- Lessons Learned
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ACCREDITATION
EuroMaTech is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Euromatech is a Knowledge & Human Development Authority (KHDA) approved training institute in Dubai, licensed and approved to deliver training courses in the UAE.
The KHDA is the regulatory authority in the UAE, that oversees administering, approving, supervising, and controlling the activities of various education providers in the UAE. We are proud of our commitment to ensuring quality training courses and status as a KHDA-approved training provider.
FAQ
Do you provide assistance with hotel accommodation?
Yes, we can assist you with the following:
- Corporate Discount: If available, we can extend our corporate discount for your stay at selected hotels.
- Hotel Suggestions: We can provide recommendations for nearby hotels based on your preferences and budget.
Feel free to explore online booking platforms for the most cost-effective options.
Do you offer customized training for organizations?
Yes, we provide tailored training solutions designed to meet the specific needs of your organization. Customized courses can be delivered either in-person or online, and you can select the dates and duration that best fit your schedule. For more details, please contact us at [email protected]
What types of training formats do you offer?
We provide two flexible training formats to suit your preferences:
- Classroom Training: Experience in-person learning with expert instructors. Engage in interactive discussions, hands-on activities, and benefit from face-to-face networking.
- Online Training: Join live online sessions from anywhere, offering flexibility for those with busy schedules or who prefer remote learning.
- In-House Training: We can bring our training directly to your organization, allowing for tailored sessions that address your specific needs and objectives.
Can you assist with visa arrangements?
Yes, we can help by issuing an official Letter of Invitation once you’ve confirmed your training registration, which can assist in your visa application process.
Who will be the senior consultant leading the training?
We are happy to share the profiles of our expert instructors. To learn more about their qualifications and experience, please contact us [email protected]
