An Intensive 5-day Training Course
Private: Planning and Budgeting using Monte Carlo Simulation (Excel®):
Visualising Value in Volatility
- Format: Classroom
- Duration: 5 days
- Language: English
- Accredited: CPE, KHDA Certified training courses
INTRODUCTION
Uncertainty has always been a part of the decision-making process. We demonstrate that finding value in volatility requires visualization via an Excel® add-in, Monte Carlo Simulation [MCS]. Recent and historical commentary regarding risks, uncertainty, and disclosure requirements offer the idea that ‘the only thing that is certain is uncertainty!’ The notion of uncertainty arises in virtually every decision-making or planning model used in accounting and finance including, for example, the creation of operational and financial budgets, capital budgeting decision making, and short-term profit planning (CVP analysis). In each case, one or more key inputs to the model (selling price per unit, sales volume, costs, etc.) is a forecasted amount, subject to uncertainty
In attending the Planning & Budgeting using Carlo Simulation (Excel®): Visualising Value in Volatility, participants will be able to explore and evaluate the elements of uncertainty which is needed to understand the connection between a company’s strategic plan and its budgets using Monte Carlo Simulation to identify key causal factors driving uncertainty. In this programme, participants will master valuable tools and techniques used by successful organizations to manage uncertainty in finance/control. Participants will return to their companies ready to guide the organization in integrating uncertainty into each decision process and to help identify key causal factors for reducing the uncertainty. Among the other best practices participants will learn to leverage the Monte Carlo Simulation concept for implementing increased transparency in planning and budgeting, identifying the key causal factors in planning for more intense oversight of plans, and integrating financial and non-financial measures into the decision framework.
The training session will focus on the following topics:
- Uncertainty in the decision process
- Integrated uncertainty in planning and budgeting
- Monte Carlo Simulation techniques
- Model building for uncertainty
- Key Performance Indicators [KPIs] for uncertainty
- Integrating uncertainty into performance management
PRE-REQUISITE
Participants need to bring their own laptop, with ADMIN Control enabled, for Monte Carlo Simulation in Excel®, to install the simulation software for practical exercises.
TRAINING OBJECTIVES
Sustaining competitive advantage worldwide requires more than just insightful strategy. To guide a company’s trajectory, today’s leaders need a balanced view of business that integrates uncertainty into each deciscion process. In Planning & Budgeting using Carlo Simulation (Excel®): Visualising Value in Volatility participants will explore the important connections between strategy, uncertainty, planning, budgeting, risk, and governance performance measures.
Opportunities are offered to discuss the principles and practical application of Monte Carlo Simulation for strategy formulation and implementation. The programme allows participants to return to their own organization prepared to implement uncertainty discussions across all business functions and initiatives, helping your company and colleagues execute sustainable strategy, achieve superior long-term performance, and improve the probability to sustain competitive advantage. Overall the programme aims to:
- Link corporate strategy and uncertainty
- Enhance uncertainty awareness
- Describe specific uncertainty in performance measurement techniques
- Evaluate alternative KPIs
- Demonstrate uncertainty techniques
- Broadening knowledge of uncertainty performance management techniques
- Understand the link between uncertainty involvement and accountability
- Explore uncertainty measures of performance through balanced scorecard and strategy maps
- Discuss real case studies in uncertainty
- Broadening strategic finance/control knowledge
- Enhance the ability to link uncertainty to strategy to performance measurement
WHO SHOULD ATTEND?
- Professionals with direct financial responsibilities and those who would benefit from news ideas and methods
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Employees from every business discipline and department who have to integrate uncertainty decision process into their units and organizations
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Middle to senior personnel from all sectors of industry and employees on fast-track development programmes, along with other employees working in a long-term project management environment
TRAINING METHODOLOGY
We combine theory and practice. Therefore, besides in-class lectures, discussions and exercises, we use company examples to illustrate how the techniques presented have been applied in real case studies.
TRAINING SUMMARY
This programme covers the integration of uncertainty into finance/control systems using Monte Carlo simulation as a quantitative technique and a qualitative signaling.
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.
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.
Taught by our team of highly qualified trainers, our KHDA approved training courses will provide you with an enriching learning experience and practical knowledge that will help you future-proof your career and support professional development within your organisation.
