Integrating Budgeting, Forecasting and Business Planning

Start Date: 14 Jul 2019
End Date: 18 Jul 2019
Duration: 5
Country: Dubai / UAE
Category: Finance, Accounting & Investment

The Course

This seminar provides the skills to build world class standards into your planning, budgeting, performance measurement and reporting system. This seminar will discuss new techniques, explain how they complement the traditional financial planning tools, and introduce new concepts for measuring and reporting performance and shareholder wealth creation. You will explore the issues relating to capital budgeting. Budgeting manufacturing as well as other expenses, identifying profit objectives, budgeting cash requirements and forecasting are all covered in this seminar.

By combining techniques analysis, problems and examples with real case studies the course provides delegates with key cost awareness and budgetary skills, which is essential in managing and controlling processes/projects in times of increasing global competition where the budgets are inextricably linked with both strategy formulation and cost analysis.

The Goals

         Successfully build an integrated planning, budgeting and reporting process

         Understand costs behaviour more accurately

         Deliver more timely and useful information to decision makers

         Improve you the budgeting/financial skills required for better decision-making, whether for your continuing business or project or a new business venture. Explain typical costing and budgeting terminology used in business

The Process

This workshop will be highly participatory and your seminar leader will present, guide and facilitate learning, using a range of methods including discussions, case studies and exercises. Where appropriate, these will include real issues brought to the workshop by delegates.

Lessons learned from the seminar will be applied to your organisation. Key performance indicators (KPIs) for the critical success factors (CSFs) will focus attention on high priority action plans for taking back to your organisation.

The Delegates

         Accountants responsible for budget preparation and management reporting

         Process professionals who require a more in-depth 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

The Benefits

         Improve your management abilities

         Increased 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 implementation of change in the organization

The Results

         Facilitate the elimination of non-value activities and the reduction of costs within your organisation

         Successfully build an integrated planning, forecasting, budgeting and reporting process

         Improve communication and motivation in your organisation

         Understand cost behaviour and patterns

         Deliver more timely and useful information to decision makers for project management

         Ensure that processes of business planning, budgeting, and management reporting are robust in themselves and suitable for your organization

         Facilitate the continuous and radical redesign of business processes

The Core Competencies

         Separating problem identification and problem solving

         Objective and strong analysis of plans and results

         Understanding the control aspects of budgeting

         Ability to appreciate the human factors involved in budget setting

The Programme Content


Day One

Budgets and Strategy in Todays 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

Day Two

The Business Plan and Budget Development

         Developing the business plan

         Identification of key value drivers

         Achieving objectives

         Zero base budgeting

         Activity based budgeting

         Rolling budgets

         Developing the Cash Budget

Day Three

Analyzing the Applicability of Historical Data Using Excel®

         Problems of forecasting

         Using historical data to help predict the future


         Sales volume

         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

Day Four

Using Activity-Based Budgeting and Cost Analysis Techniques

         Cost behaviour and breakeven analysis

         Activity based costing

         Budgeting for Processes rather than Departments

         Defining Key Cost Drivers

         Defining Key Activities

         Developing the Activity-Based Budget

Day Five

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

         Determining the initial and subsequent capital project cash flows

         Development of the "Hurdle Rate" for capital projects

         Evaluate capital projects by applying NPV, IRR, ARR Payback models

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