Integrating Budgeting, Forecasting and Business Planning Training
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Integrating Budgeting, Forecasting and Business Planning Training Course
Introduction:
The frustrations that executives feel with planning, budgeting, and forecasting often lead to a loss of perspective. Executives forget the purpose of planning, budgeting, and forecasting. They lose sight of why they plan, what a forecast is for, and what they want to achieve in their day-to-day enterprise performance management. Most importantly they lose sight of the metrics that they should be monitoring and managing.
So, if companies intend to succeed in today’s turbulent markets, their Business Plans must be looked at carefully and constantly integrated with Budgeting, Forecasting, and Cost Analysis.
This training course will provide you with the necessary skills to build world-class standards into your planning, budgeting, performance measurement, and reporting system. By combining techniques analysis, problems, and examples with case studies,
The course will provide candidates with the skills and forecasting techniques to develop a budget as a plan and use control budgets and analysis of variances to actual to identify areas in which financial performance may be improved.
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 cost 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 is ideal for:
- 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
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, and ARR Payback model