Budgeting Masterclass Training
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Budgeting Masterclass Training Course
Introduction:
A solid understanding of budgeting skills is crucial for effective operational management, ensuring that short-term tactical goals align with medium and long-term strategic objectives. This becomes particularly challenging in the face of the current uncertain economic and social climate. As a result, it is essential for nonfinancial corporate leaders to stay updated on the latest forecasting techniques and practices.
This highly intensive course offers a comprehensive approach to budgeting, combining theoretical knowledge with practical methods and techniques necessary for developing robust budgeting systems and their related functions. Participants will gain a simplified yet in-depth understanding of the mechanics of budgeting.
The course not only provides a theoretical background but also offers ample opportunities for delegates to focus on developing and enhancing their practical application of budgeting concepts, processes, and techniques. By delving into real-world case studies and interactive exercises, participants will be able to apply their knowledge to improve budgeting performance and achieve organizational goals.
The program covers various aspects of budgeting, including budget development, implementation, monitoring, and evaluation. Participants will gain insights into effective budgeting practices, forecasting techniques, and strategic alignment. They will also learn how to navigate challenges and make informed decisions to optimize budgeting processes and enhance overall performance.
By the end of the course, participants will have a solid grasp of budgeting fundamentals and the ability to apply them in practical scenarios. They will be equipped with the knowledge and skills needed to develop and implement effective budgeting systems, align tactical and strategic objectives, and drive organizational success.
This course is designed to empower nonfinancial corporate leaders with the expertise necessary to navigate the complexities of budgeting and achieve the best possible performance outcomes for their organizations.
Course Objectives:
At the end of this Budgeting Masterclass Course, you will able to:
- Build up the appropriate methods for effective budgeting as part of the planning process.
- create multiple budgeting models for all elements of a budget.
- Understand the use of activity-based budgeting, compared with other budgeting methods
- Develop and effectively control budgets.
- Provide budgeting knowledge that can be shared for the benefit of your company.
Who Should Attend?
This Budgeting Masterclass Training Course Ideal for:
- People who want to manage their finances better, but don't know where to start.
- Someone interested in learning how to enhance their current financial framework.
- Anyone who wants to objectively manage and analyze their financial goals.
Course Outlines:
Strategic Planning
- Why strategy comes before the budget.
- The process of strategic planning.
- Building up a strategic plan.
- Strategic planning tools.
- Where are we now, and where do we want to be?
- Linking the budget with the strategy.
Forecasting
- What is forecasting?
- Strategic role of forecasting.
- The forecasting processes.
- Forecasting demand.
- Sales forecasting using various methods in Excel©.
- Qualitative and Quantitative forecasting methods.
Budgeting
- What is a budget.
- Budgeting and the Management Process.
- Budgeting framework.
- How to evaluate budgeting software.
- Budget preparation.
- Building the master budget.
Using a budget as a management tool
- Linking strategic planning, forecasting budgeting and reporting.
- Budget cost behavior.
- Budget cost, volume, profit (CVP) and break-even analysis.
- Sensitivity & What-If Analysis.
- Budgetary Control.
- Variance Analysis.
Capital Budgeting (CAPEX)
- Capital budgeting principles.
- Raising finance.
- Weighted Average Cost of Capital (WACC).
- Methods of Evaluating Capital Investment Projects.
- Comparing different projects and their returns.
- Capital Rationing.