Effective Budgeting, Planning & Control
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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
Effective Budgeting, Planning & Control
Introduction :
Budgets are an essential financial tool, which aid, planning, decision making, resource allocation, coordination, and control.Without the necessary skills Budgets can be badly prepared and/or implemented leading to poor decisions, mid-use of vital resources, poor coordination, and a lack of control or even too much control resulting in missed opportunities.
Course Objectives :
At the end of this course, the participants will be able to :
- Develop the skills to Plan Budgets within a sound Strategic Plan
- Develop the skills to Prepare Budgets using:
- Appropriate Forecasting Techniques including Time Series Models,
- Exponential Smoothing, Regression and Correlation Analysis and
- Costing Methods such as Activity Based Costing
- Develop the skills to effectively implement Budgets
- Personnel Controller with salaries and budget calculations
- Become aware of the problems/limitations of budgets and the conditions required for their success
- Integrate the budgeting process with the development of the company’s long-term strategic vision
- Identify key performance indicators for effective and focused decision making
- Perform “What If” and Sensitivity Analysis to evaluate the implications of changes in major factors of production and consumption
- Recommend various courses of action to manage the implications of “What If” and Sensitivity Analysis.
- Implement advanced planning and control techniques
- Develop the skills to effectively Manage & Control the budgeting process
Targeted Audience :
- Financial Managers
- Financial Planning and Control Staff
- Executives with Financial Responsibilities
- Executives who are responsible for the cost and strategic analysis
- Project Managers
- Employees who want to gain new knowledge to improve their career
Course Outlines :
Unit 1 : The Essentials of Budgeting :
- Strategic Planning, Forecasting, Budgeting, and Costing – Defined
- The inter-relationship of Strategic Planning, Forecasting, Budgets, and Costing
- The Benefits & Limitations of Budgets and the Essential Features & Conditions Required
- An Evaluation of Various Types of Budgets:
- Fixed
- Variable
- Zero Based
- Activity-Based
- Capital Budget
- The Essential Features of Activity-Based Budgeting
- Developing the ABB application model
- Budgeting for Processes rather than Departments
- Defining Key Cost Drivers
- Defining Key Activities
- Development of ABB Cost Standards
- Developing the Activity-Based Budget
- Preparing The Master Budget using Excel
- Sales Budgets
- Production Budgets
- Cash Budgets
- Capital Budgets
- The Master Budget
Unit 2 : Forecasting Future Sales, Costs, Exchange Rates, Interest Rates :
- Determine the Purpose or Objective of Forecasting
- Methods of Forecasting using Qualitative and Quantitative/Statistical Analysis
- including the Exploratory Data Analysis Tools Available in Excel
- Their Use & Limitations
- Recognizing the Basic Patterns Inherent in Historical Data
- Time Series Analysis
- Exponential Smoothing
- Correlation and Regression Analysis
- Presenting initial forecasts to decision-makers
- Forecasting future Market/Sector developments using Qualitative Analysis – SWOT Analysis and LEPESTE & Co Analysis
- Implementing Forecasts into the Budget
- Considering Hedging Strategies where variables such as Exchange Rates and Interest Rates cannot be forecast accurately
- Forwards, FRA’s, Futures, Options and Swaps
Unit 3 : Preparing and Implementing Budgets Based on Forecasts :
- Preparing the Sales Budget
- Determining the price, credit policy, discount policy, and currency
- Preparing the Production Budget
- Preparing the Cash Budget
- Make finance and investment decisions
- Preparing Capital Budgets
- Use Excel to evaluate various Capital Projects using Present
- Value, Future Value, Net Present Value, Internal Rate of Return, Modified Internal Rate of Return and Discounted Payback models
- An Introduction to “What If” and Sensitivity Analysis to evaluate the implications of changes in major factors of production and make strategic decisions
- Implementing Budgets Successfully
- The Conditions Required
- The Management Skills Required
Unit 4 : Break Even Analysis, Sensitivity Analysis, and What-If Analysis :
- Break-Even Analysis, Cost Behaviour and Sensitivity Analysis
- Identifying Fixed, Variable and Semi-variable costs
- Identification of the level of sales/profit to break even
- Identification of critical costs
- Determining resources requirements
- What if Analysis using Excel and leading software
- Performing “What If” and Sensitivity Analysis to evaluate the implications of changes in major factors of production and consumption on the Cash Budget and Profit & Loss Account
- Identification of key performance indicators for effective and focused decision making
- Recommend various courses of action to manage the implications of “What If” and Sensitivity Analysis.
- Developing Budget Re-Projection and Best Case / Worst Case Scenario Models
- Planning for contingencies
- Developing various scenarios
- Using the Scenario tool in Excel® to explore the variable sets of assumptions while tracking the impact on the base model.
- Building the financial simulation model using probabilistic (Monte Carlo) simulation
- Building the financial simulation model using deterministic simulation
Unit 5 : Variance Analysis, Reporting, Control, and Decision Making :
- Accounting Systems, Accountability and Responsibility Systems
- Essential Elements of a Costing System
- Establishing and Implementing a Costing System
- Undertaking Variance Analysis and Presenting a Variance Report to decision-makers
- Evaluation of the results
- Making Strategic Decisions based on the Variance Report/Business Planning
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.
