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Budgeting, Forecasting and Control

Budgeting, Forecasting and Control

Companies in the GCC today operate in an environment of global competition, fluctuating oil prices, and volatile market conditions leading to dramatic changes in exchange rates, revenues and projections. Effective planning, budgeting, forecasting and cost control skills are thus increasingly important as they help organisations maximise revenues, manage costs and projects, and reduce financial risk, while enabling the management to make better decisions and achieve strategic objectives.


Course Objectives

By the end of the course, participants will be able to:

  • Evaluate the budgeting process in their organizations and recommend improvements
  • Create budget templates and models for their departments or organizations
  • Apply several forecasting techniques to better manage uncertainties in budgeting
  • Evaluate capital budgeting decisions using several methods and recommend proper action
  • Utilize Microsoft Excel functions and tools in the budgeting process including breakeven analysis and optimization

Coure Outline

  • The Budgeting Process
  • Budgeting in a business
  • The role of the budget in corporate governance
  • Sources of information
  • Building the Budget
  • Where to start?
  • Key accounting concepts
  • Forecasting revenue
  • Types of costs
  • Overview of the budgeting process and model considerations
  • Types of budget models
  • Short-term & long-term models
  • Upstream vs downstream models
  • Model design & planning
  • Best practice design guidelines
  • Budgeting vs forecasting
  • Planning the Model
  • Bottom up budget models
  • Model development framework
  • Zero-based budgeting & cost drivers
  • Rolling (dynamic) budgets
  • Building flexibility into time series analysis
  • Capital expenditure budgeting
  • Cash budgeting
  • Determination of model and forecast scope and time horizons
  • Control
  • Using cost information for management control
  • Optimise planning of resources to achieve budgeted targets
  • Measure and evaluate performance against forecasts
  • Recent developments in the budgeting and planning process (balanced scorecard, value chain analysis and others)

Target Audience

  • Finance directors
  • Managers, controllers
  • Accountants
  • Budget analysts
  • Budget owners
  • Professionals who wish to expand their budgeting knowledge

Course Objectives

By the end of the course, participants will be able to:

  • Evaluate the budgeting process in their organizations and recommend improvements
  • Create budget templates and models for their departments or organizations
  • Apply several forecasting techniques to better manage uncertainties in budgeting
  • Evaluate capital budgeting decisions using several methods and recommend proper action
  • Utilize Microsoft Excel functions and tools in the budgeting process including breakeven analysis and optimization

Coure Outline

  • The Budgeting Process
  • Budgeting in a business
  • The role of the budget in corporate governance
  • Sources of information
  • Building the Budget
  • Where to start?
  • Key accounting concepts
  • Forecasting revenue
  • Types of costs
  • Overview of the budgeting process and model considerations
  • Types of budget models
  • Short-term & long-term models
  • Upstream vs downstream models
  • Model design & planning
  • Best practice design guidelines
  • Budgeting vs forecasting
  • Planning the Model
  • Bottom up budget models
  • Model development framework
  • Zero-based budgeting & cost drivers
  • Rolling (dynamic) budgets
  • Building flexibility into time series analysis
  • Capital expenditure budgeting
  • Cash budgeting
  • Determination of model and forecast scope and time horizons
  • Control
  • Using cost information for management control
  • Optimise planning of resources to achieve budgeted targets
  • Measure and evaluate performance against forecasts
  • Recent developments in the budgeting and planning process (balanced scorecard, value chain analysis and others)

Target Audience

  • Finance directors
  • Managers, controllers
  • Accountants
  • Budget analysts
  • Budget owners
  • Professionals who wish to expand their budgeting knowledge

Contact Us

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