Advanced Budgeting, Forecasting & Business Planning
Advanced Budgeting, Forecasting & Business Planning
OBJECTIVES
- Successfully build an integrated planning, budgeting and reporting process
- Understand costs behavior more accurately
- Deliver more timely and useful information to decision makers
- Improve you the budgeting/financial skills required for better decision-making, whether for your continuing business or project or a new business venture Explain typical costing and budgeting terminology used in business
WHO SHOULD ATTEND?
- Chief Financial Officers who want to use the most advanced budgeting tools
- Treasurers who need to go beyond the traditional budgeting tools
- Controllers who want to go beyond budgeting limitations
- Any senior manager who wants to improve the accuracy of their financial plans and budget
COURSE OUTLINE
Day 1
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
Day 2
The Business Plan and Budget Development
- Developing the business plan
- Identification of key value drivers
- Achieving objectives
- Zero base budgeting
- Activity based budgeting
- Rolling budgets
- Developing the Cash Budget
Day 3
Analyzing the Applicability of Historical Data Using Excel®
- Problems of forecasting
- Using historical data to help predict the future
- Forecasting
- Sales volume
- Development of Time Series Models using histograms, moving averages, exponential smoothing, and regression analysis
- Using Regression Analysis as a predictor and estimator
- Mastering the use of Exponential Smoothing as a Data Analysis tool
Day 4
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
Day 5
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
- Determining the initial and subsequent capital project cash flows
- Development of the “Hurdle Rate” for capital projects
- Evaluate capital projects by applying NPV, IRR, ARR Payback models