Budgeting and Forecasting Process, Tools and Techniques
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1- Online Training...with international accreditation.
The value of participation per person is €1,450
2- Requirement : specifying the course, number of participants,
implementation date, and joint coordination.
Group contracting ... 20% Discount For Each Participant
In Any Group Of Five Person Or More
Other Places To Hold The Course :
KualaLumpur.. Istanbul.. Dubai.. Cairo.. Riyadh.. Jeddah.. Abu Dhabi.. Doha.. Muscat.. Sharm El Sheikh.. Kuwait.. Tripoli.. Amman.. Beirut.. Damascus.. Tunisia.. Casablanca.. London.. Paris.. Barcelona.. Amsterdam.. Brussels
Budgeting and Forecasting Process, Tools and Techniques
Introduction :
What is the budgeting and forecasting process? Budget is an inherent part of the corporate financial planning process. It is therefore crucial that every business, irrespective of its size, must prepare an annual budget and review it at least every quarter.The budget should be aligned to the overall strategic plan of the company and should include, inter alia, sales forecast, associated cost of sales, operating overheads, and capital expenditure plan for the year. Key performance indicators must be identified and monitored throughout the year.The resulting document is the projected Financial Report which all business owners, directors, and the top management must be able to understand. Budget preparation should not be left to the CFO only. All departmental heads must share this responsibility and provide their own inputs. Implementation of code of governance in most countries requires Directors to approve the company’s budgets and therefore must take ownership of the budget document.
Course Objectives :
At the end of this course, the participants will be able to :
- Appreciate the importance of effective budget preparation and financial planning
- Understand Various sources of finance with their utilisation, based on the cost of capital
- Take sound investment decisions based on proper appraisal
- Obtain an overview of the financial statements and management reports to evaluate the company’s performance
- Review key performance analysis applicable to business
- Prepare competitor analysis, market trends, and related explanations for top-level discussions
- Understand cost behaviour and its effect on financial planning
- Assess usage of ERP systems and other budgeting tools
- Understand various types of budgets and use the one most suited to the organization
- Use financial modeling to forecast the profitability and cash flows with sensible assumptions
- Understand the different components of working capital and reduce the operating cycle
- Get equipped to manage and control budgets and forward plans
- Understand the best practice in financial planning and management
Targeted Audience :
- Chairmen
- Members of the Board of Directors
- C-suite Executives, CEOs, CFOs, and COOs
- External and Internal Auditors
- Members of the Audit Committees of the Board
- Senior Executives, Members of Management Committees
- Professionals associated with the finance function
- Shareholders and business owners eager to learn the fundamentals of Budgeting and Forecasting
Course Outlines :
MODULE 1 : INTRODUCTION
- Overall Strategic Plan
- Mission / Vision Statement
- Majority/ Minority Shareholders
- Profitability v/s Liquidity
MODULE 2 : BUDGET PROCESS AND MANAGEMENT
- Preparation of Master Budget
- Fixed v/s Flexible Budgets
- Quarterly Reviews
- Forward Planning
- Budget/ Actual Comparison
- Zero Based Budgets
MODULE 3 : BUDGET STATEMENTS
- Balance Sheet
- Profit & Loss Statement
- Statement of Cash Flow
- Budget Assumptions
- Accompanying Notes
MODULE 4 : WORKING CAPITAL CONTROL
- Inventory Control
- Accounts Receivable
- Accounts Payable
- Reconciliation of Sub-ledgers
- Other Current Assets & Current Liabilities
- Tax and Deferred Taxation
MODULE 5 : COMPARISON WITH ACTUALS
- Ratio Analysis
- Vertical Balance Sheet & P&L Statement
- Horizontal Balance Sheet & P&L Statement
- Variance Analysis
- Price Variance
- Quantity Variance
- Mix Variance
MODULE 6 : CAPITAL EXPENDITURE
- Capital Investment Appraisal
- Return on Investment
- Payback Period
- Net Present Value
- Internal Rate of Return
- Lease or Buy Decisions
- Tax Implications thereof
MODULE 7 : ENTERPRISE RESOURCE PLANNING (ERP)
- Sales
- Bill of Material
- Material Management
- Procurement
- Production
- Finance
MODULE 8 : OTHER BUDGETING TOOLS
- Vertex 42
- MS Office Budget Templates
- YNAB
- Quicken Budget Calculator
EuroMax Training Methodology :
Our training work is presented in a professional and attractive manner.. Interspersed with interceptive information to renew attention throughout the training period… We aim with this method to train the listener and interact… In addition to practical applications that target the direct skills and knowledge required to be achieved.. It is presented to the trainees in more than one way.. Practical exercises and applications.. Surveys and questions.. A training strategy has been adopted based on pairing between the theoretical and the professional and between the local and the global.
What Does The Participant Get From The Course?
Each participant obtains an internationally accredited training certificate from the EuroMax Center for Training and Development … which has the ISO certificate in quality No. 900/2015 from the English international company UCAS .. and receives a training bag containing the scientific material via an electronic flash … in addition to an enjoyable and useful training that is reflected Positive and developmental for individuals and the institution
Note :
We can implement the training course in any of the cities referred to in this course..at the appropriate and required time for the trainees..through joint coordination with the training department at the center..the training is implemented in a distinctive manner according to the best quality standards so that we meet all training requirements and needs.
International Accreditations
The EuroMax Center for Training and Consulting has obtained international and official accreditations with the highest and best international levels scientifically and technically, which reflect the level of outstanding performance in our training work.. so that it achieves what each participant aspires to by obtaining the best certificates with officially approved scientific and technical standards.
