Integrating Budgeting, Forecasting and Business Planning Training
Select Other "city & date"
Integrating Budgeting, Forecasting and Business Planning Training Course
Introduction:
The frustrations experienced by executives in planning, budgeting, and forecasting often result in a loss of perspective. They may forget the purpose of these activities and lose sight of why they plan, what forecasts are for, and what they aim to achieve in their day-to-day enterprise performance management. Most critically, they may lose sight of the key metrics they should be monitoring and managing.
In today's volatile markets, companies must carefully examine and continuously integrate their Business Plans with Budgeting, Forecasting, and Cost Analysis in order to succeed.
This training course will equip you with the necessary skills to embed world-class standards into your planning, budgeting, performance measurement, and reporting system. Through a combination of analytical techniques, problem-solving, real-world examples, and case studies, the course will provide you with the expertise and forecasting techniques required to develop a budget as a strategic plan. Furthermore, you will learn how to utilize control budgets and analyze variances against actual performance to identify areas for financial improvement.
By participating in this course, you will gain the knowledge and tools needed to navigate the challenges of planning, budgeting, and forecasting effectively. This will enable you to enhance your organization's financial performance and make informed decisions to drive its success in today's dynamic business environment.
Course Objectives:
At the end of this Integrating Budgeting, Forecasting and Business Planning Training Course the participants will be able to:
- Build integrated planning, budgeting and reporting process
- Improve their budgeting/financial skills required for better decision-making
- Understand costs behavior more accurately
- Deliver more timely and useful information to decision-makers
- Explain typical costing and budgeting terminology used in business
- Improve their management abilities
- Increase their understanding of forecasting and budgeting techniques
- Understand the problems of overheads and how Activity-Based Analysis may aid decision-making and pricing strategies
- Contribute to the implementation of change in the organization
- Facilitate the elimination of non-value activities and the reduction of costs within your organization
- Understand cost behavior and patterns
- Ensure that processes of business planning, budgeting, and management reporting are robust in themselves and suitable for their organization
Who Should Attend?
This Integrating Budgeting, Forecasting and Business Planning Training Course ideal for:
- Accountants responsible for budget preparation and management reporting
- Process professionals who require a more in-dept understanding of integrated planning and budgeting techniques
- Financial Planners and Cost Analysts
- Line heads with direct planning and budgeting responsibility
- Professional advisers
- Account Personnel and Business Consultants
Course Outlines:
Budgets and Strategy in Today’s International Environment
- Organizational planning framework
- The product / information / decision support cycle
- Strategic, tactical, and operational forecasts
- The strategic approach to business planning
- Various strategic and tactical approaches to business planning
- The international business environment
The Business Plan and Budget Development
- Developing the business plan
- Identification of key value drivers
- Achieving objectives
- Zero base budgeting
- Activity based budgeting
- Developing the Cash Budget
Analyzing the Applicability of Historical Data Using Excel
- Problems of forecasting
- Using historical data to help predict the future
- Forecasting
- Development of Time Series Models
- Using Regression Analysis as a predictor and estimator
- Mastering the use of Exponential Smoothing as a Data Analysis tool
Using Activity-Based Budgeting and Cost Analysis Techniques
- Cost behavior and breakeven analysis
- Activity based costing
- Budgeting for Processes rather than Departments
- Defining Key Cost Drivers
- Defining Key Activities
- Developing the Activity-Based Budget
Capital Budgeting and Project Appraisal
- Identify the various types of capital projects
- Discuss the capital project evaluation process
- The impact time has on the value of money
- Using WACC and ROIC as benchmarks
- Development of the "Hurdle Rate" for capital projects
- Evaluate capital projects by applying NPV, IRR, ARR Payback model