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This course examines traditional budgetary, forecasting and planning processes, their shortcomings, how they may be improved and then considers alternative techniques and processes and the implications of using them. It also examines the needs of operational management and considers how budgeting, planning and forecasting can be made more relevant to gain greater “buy in” and transparency.

Key features

  • Budgetary problems – uncertainty, lacking transparency, forecast accuracy, objectivity, “game playing”
  • Binding the budget to strategy, business planning and forecasting processes
  •  Simple statistical and non-statistical techniques to improve forecast accuracy
  •  Rolling forecasts, Driver based, Zero Based and activity-based budgeting
  •  Improving Capex budgeting
  • Making budgets “management friendly”

Course Outline:

The Strategic Plan

  • The purpose of planning and budgeting in business
  • Defining the strategic approach to business planning
  • Defining strategic assumptions
  • Building the strategic planning model using financial data
  • Various strategic and tactical approaches to business planning
  • Defining the Decision-Support model: Assumptions/Goals and Key Success Factors

Analysing the Historical Data Using Excel

  • Recognizing the Basic Patterns Inherent in Historical Data
  • Using the Exploratory Data Analysis Tools Available in Excel®
  • 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
  • Single Regression vs. Multiple Regression
  • Validation of Time Series Analysis

Approaches to Budget Development

  • Types of Budgets
  • Zero Base Budgeting
  • Activity-based Budgeting
  • Rolling Budgets
  • Operational Unit Budgeting
  • Programme budgeting
  • Developing the Cash Budget
  • Using Activity-based Budgeting
  • Developing the ABB application model
  • Budgeting for Processes rather than Departments
  • Defining Key Cost Drivers
  • Defining Key Activities
  • Development of ABB Cost Standards
  • Developing the Activity-Based Budget

Strategic and Operational Cost Analysis Techniques

  • Types of costs
  • Identifying fixed, variable and semi-variable costs
  • Application of Regression in the development of budgets
  • Building the financial simulation model using articulated financial statements
  • Building the financial simulation model using simulation
  • Developing Manufacturing Standards
  • Material Standard Development
  • Labour Standard Development
  • Factory and Corporate Overhead Standard Development
  • Variance Analysis

Defining and Testing optimization Techniques in Models using Excel

  • Basic Structure of All Optimisation Models
  • Different Forms and Applications of Optimization Models
  • Developing a Financial Optimisation Model
  • Performing Sensitivity Analysis of an Optimisation Model
  • Interpreting the Solution of an Optimisation Model to a Non-technical Manager


Who Should Attend?

  • CFO’s, Chief Operating Officers, Directors, Chief Accountants, Business Units & Departmental Managers, Managers, Analysts, Controllers, Advisors and Heads of:
    • Finance
    • Budgeting and Control
    • Planning and Control
    • Forecasting and Cost
    • Management Accountants
    • Business Planning
    • Strategic Business Unit
    • Performance Management
    • Sales and Marketing
    • Purchasing
    • Business Development

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Course Curriculum

No curriculum found !
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