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Budgeting, Forecasting and Reporting

Course Start Date: 16th July

Training Duration: 4 Days

Practical application through exercises:

  • Excel Exercises

Learning Outcomes

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Learn about the different budgeting techniques and the importance of budgeting in planning.

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Learn about a systematic approach to developing budgets.

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Understand how to use variance analysis to track budget vs actual performance.

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Learn about different methods of forecasting and how forecasting helps in planning.

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Learn effective reporting techniques via excel with focus on forecasting.

Course Outlines

  • A brief look into planning and strategy
  • Describe the role that budgeting plays in the overall planning and performance evaluation process of an organization.
  • Characteristics that define successful budgeting processes
  • The budgeting cycle 
  • Approaches of Budgeting
  • Types of Budgeting – Static , Rolling , Incremental, Cash, Activity Based, Zero Based etc. 
  • Budgetary Slack
  • The Budgetary Control Process
  • Types of Cost  used in the budgetary control process – fixed, variable etc. 
  • Standard Cost
  • Purpose for Standard setting
  • What causes a variance in budgets
  • Variance analysis
  • Bridge Analysis in understanding variance. 

 

Exercise : Delegates would be required to identify variances and analyze the cause 

  • What is Forecasting?
  • Features and Benefits of Forecasting
  • Comparison between Budgeting and Forecasting
  • What goes into building a forecast ?
  • Forecasting Techniques –  Regression, Scenario Analysis etc. 
  • Forecasting in Excel – Straight line, Moving Average, Regression, Scenario Analysis etc. 
  • Revenue and profit forecasting
  • Importance of Contingency in forecasting. 

Exercise : Delegates will be required to practise forecasting via excel . 

  • The Report writing process
  • Planning in writing a report
  • Reporting on Budgets
  • Equip the budget model with multiple scenarios on revenue, cost and cash flow drivers
  • Use of sensitivity analysis and importance of flexible budgeting in practice
  • Create a professional and attractive dashboard to showcase summary and results
  • Able to analyse impact of multiple scenarios using excel buttons
  • Exercise : Delegates will be required reporting via excel