KPME Budgeting, Forecasting and Reporting
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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.
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