Introduction
This course is considered the second level in budgeting after our “Effective Budgeting and Cost Control” program. It goes beyond the theory of budgeting as a concept to over specific steps to make the budget a value-added process in the organization. By building user-friendly models and applying scenario analysis, management will spend less time gathering data and more time analyzing it for decision making. Several Microsoft Excel tools are used throughout this course program to make it practical and to provide participants with the skills needed to apply the tools in their organization immediately. Such tools include ‘what-if’ and the solver, among many others.
Course Objectives of Advanced Budgeting Workshop
- 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.
- Evaluate the budgeting process in their organization and recommend improvements.
Who should attend: Effective Budgeting and Cost Control training course is ideal for:
- Financial Supervisors.
- New and experienced Business Executives.
- Senior and Middle Managers.
- Project managers.
- HR Managers.
- All line managers.
- All individuals who want to become better at Budgeting.
Course Outlines
Day 1 Budgeting and Planning
- The budget and the functions of management
- Budget as a planning tools
- Budget and the key financial statements
- Top-down versus bottom-up process
Day 2 Budget Cycle, Process and approaches
- The budget cycle
- Zero-based & Flexible Budgeting
- Kaizen & Activity based budgeting
- Rolling (continuous) budgets and forecasts
- Incremental & Operating and capital budgets
Day 3 Forecasting Techniques
- Forecasting models’
- Qualitative and quantitative methods
- Time series and trend analysis
- Data conditioning techniques
- Simple and multiple regression analysis
Day 4 Advanced capital budgeting evaluation techniques
- Business risks and capital
- Classifying investment projects
- Cash flow estimation
- (NPV), (IRR), (MIRR), (PI)
- Sensitivity and risk analysis
Day 5 Breakeven analysis and optimization techniques
- Cost Volume Profit (CVP) analysis
- Using CVP to reach a target income
- Single product and multiple products break even analysis
- Working with budget constraints
- Building optimization models
Advanced Budgeting Workshop (Course No.011)
Advanced-Budgeting-Workshop