Budgeting, planning, and forecasting (BP&F) is an essential three-step process. Why ? – Simply because, this process helps in determining and detailing an organization’s long- and short-term financial goals. Under the Chief Financial Officer’s (CFO’s) guidance, the process is usually managed by an organization’s finance department.
Many organisations apply the tools of budgeting and forecasting as a means of providing and updating tactical operating plans and controlling costs. World-class organisations use these, within a specifically designed framework to develop and execute business strategy and drive operations
Who Should Attend?
- Financial professionals, finance controllers, key finance team members
- New trainees with finance-related responsibilities
- Managers with a direct responsibility for divisional profit performance
- Managers responsible for relationships with banks and external institutions
- Head office team involved in strategic planning and decision making
- Department heads, process owners, administrative managers involved with budget management, financial and technical professionals, sales and marketing professionals, project professionals, and anyone who needs to understand how to develop their department budgets
The objectives of the seminar are to enable delegates to:
- Grow as strategic thinkers, understand and participate in the strategic management process; aid in developing their company’s vision and carry out strategic analysis and strategic decision making
- Create and employ strategy maps to convert strategy into objectives as the basis for preparing and implementing operating budgets
- Create and utilise vital tools for executing and managing strategy such as :- the balanced scorecard, budgets, variance analysis and rolling forecasts
- Develop and use ‘what-if’ and other forecasts using readily available software
- Use advanced costing methods to understand cost behaviour, product and customer profit analysis in order to enhance strategic decision making
- Understand the key principles of financial strategy; determine cost of capital, optimum funding, and capital structure; use discounted cash flow (DCF) tools for investment decisions; understand, manage and forecast the key drivers of organisational cash flow
- The key steps in designing and executing effective business strategies
- How to translate strategy into budget objectives to manage execution
- The most useful forecasting techniques for planning and budgeting
- Best practice in preparing and implementing budgets
- How to use budget variances to monitor and learn about strategy execution
- How the power of Excel can be used in forecasting and budgeting
- Modern approaches to profit and strategic decision making
- All our courses can be facilitated as Customized In-House Training course.
- Course duration is flexible and the contents can be modified to fit any number of days.
- As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
- The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
- FREE Consultation and Coaching provided during and after the course.