Budgeting, Financial Control, and Projection Techniques

Overview


Over the course of three days, this workshop offers a comprehensive exploration of budgeting and forecasting. On Day 1, participants delve into budgeting concepts, including budgeting within a strategic framework, types of budgets, setting KPIs, and the role of budgets in corporate governance.Day 2 focuses on budget methodologies and forecasting techniques, covering topics such as zero-based budgeting, rolling budgets, cash budgeting, and forecasting revenues and expenses through Excel case studies then delve into centers on control and monitoring, emphasizing strategies for controlling expenditures, variance analysis, performance evaluation, and utilizing analysis tools like regression analysis and trend analysis to ensure effective budget management.

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Outcome

Evaluate the budgeting process in their organizations and recommend improvements

Create budget templates and models for their departments or organizations

Utilize Microsoft Excel functions and tools in the budgeting process including breakeven analysis and optimization

Understand Budgeting Framework

Present results with charts and graphs.

Details

Developed by: Beacon FinTrain
Standard Total Hours: 18 Hrs
Language: English - Bilingual "English & Arabic"
Modalities: 
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Outline

  • Budgeting Within a Strategic Framework
  • Building a Robust Budgeting Process
  • Budgeting in a business
  • Types of budget
  • The role of the budget in corporate governance
  • Sources of information
  • Setting the KPI’s
  • Bottom-up budget models
  • Key accounting concepts
  • Difference between Budgeting Vs. Forecasting
  • Short-term & long-term Forecast
  • Budget Mehtodolgy - Upstream vs downstream technique
  • budgetary slack and its impact on goal congruence
  • Budget role in controlling operations
  • Qualitative and quantitative methods

  • Forecasting revenues by channel
  • Zero-based budgeting & cost drivers
  • Rolling (dynamic) budgets
  • Building flexibility into time series analysis
  • Cash budgeting
  • Forecasting Techniques
  • Forecasting Sales (Excel case study)
  • Forecasting Marketing expenditure (Excel case study)
  • Determination of model and forecast scope and time horizons
  • Optimize planning of resources to achieve budgeted targets
  • Measure and evaluate performance against forecasts
  • the budgeting and planning process (balanced scorecard, value chain analysis)
  • Budgeting Tools & Functions (Excel case study)
  • Breakeven analysis

  • Controlling expenditures to meet strategic objectives
  • Control Policy & Procedures
  • Pre control vs post control
  • Using cost information for management control
  • Monitoring
  • Tracking Budget Performance with Variance Analysis
  • Analysis Tools & Functions (Excel case study)
  • Projection
  • Performance evaluation
  • Time series and trend analysis
  • Simple and multiple regression analysis.

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Who Should Attend

  • This course is designed for those who are responsible for financial management
  • budgeting
  • and forecasting within their organizations
  • such as (corporate development - functional heads of departments - financial analysts - as well as for those from non-finance backgrounds who are responsible for managing budgets and delivering against the forecasted figures ).

Why Beacon

Quality

Beacon FinTrain prioritizes excellence in every service, ensuring top-notch, reliable, and consistent outcomes that meet and exceed client expectations.

Specialization

We focus on finance, offering expert knowledge and bespoke solutions that cater to the unique needs of finance professionals in the Middle East and Africa.

Punctuality

Time is money. We respect deadlines, delivering precise and timely results to help our clients stay ahead in the fast-paced financial world.

Guidance

Beacon FinTrain is a guiding light in finance, providing insightful advice and support to navigate the complexities of financial markets and regulations.

Integrity

We uphold the highest ethical standards, fostering trust and transparency in all our dealings to build lasting relationships with clients.

Flexibility

Adapting to the dynamic finance sector, we offer versatile services and solutions that align with the evolving needs of our clients.