Advanced Budgeting & Forecasting Techniques Using Excel
Advanced Budgeting & Forecasting Techniques Using Excel
Course Description
This leading-edge program is builds on your basic finance and budgeting skills to empower you to tackle those key issues facing today's business executive. This program is for managers who understand the basic concepts of budgeting and finance, and want to take their skills to the next step.
If you are challenged with the responsibility decisions relating to profit enhancement, design and implementation of cost controls, and the evaluation of professional and technical personnel, this course is a must. Through the approaches and techniques presented in this powerful program,
Objective
- Understand the relationship between planning, forecasting, & budgeting
- Use Excel© to develop various forecasting models
- Use Excel© to build various budget models
- Test forecasting & budgeting models using Excel©
- Use the forecasting/budgeting cycle to improve the budget accuracy
Who Should Attend
This course is for management and technical professionals with direct financial responsibilities and need to understand leading-edge techniques to plan, analyze, and evaluate the effectiveness of the plan and those entrusted with its implementation.
Outline
Day One
Budgets in Today’s International environment
- Organizational Planning and Control Framework
- The Product / Information / Decision Support Cycle
- Strategic, Tactical, and Operational Forecasts
- The recognition of risk in Models
- Using Budget Models for Simulation Purposes
- The Drive toward Shareholder Value (EVA®)
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
Day Two
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
Day Three
Approaches to Budget Development
- 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
Day Four
Strategic and Operational Cost Analysis Techniques
- 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 deterministic simulation
- Building the financial simulation model using probabilistic (Monte Carlo) simulation
Developing Manufacturing Standards
- Material Standard Development
- Labour Standard Development
- Factory and Corporate Overhead Standard Development
- Variance Analysis
Day Five
Defining and Testing Optimisation 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
- Lessons Learned and Lessons to be Learned
Certificates
A Certificate of Completion will be issued to those who attend & successfully complete the programme.
Schedule
08:30 – 10:15 First Session
10:15 – 10:30 Coffee Break
10:30 – 12:15 Second Session
12:15 – 12:30 Coffee Break
12:30 – 14:00 Third Session
14:00 – 15:00 Lunch
Training Methodology:
This interactive training course includes the following training methodologies as a percentage of the total tuition hours:
- 30% Lectures, Concepts, Role Play
- 30% Workshops & Work Presentations, Techniques
- 20% Based on Case Studies & Practical Exercises
- 20% Videos, Software & General Discussions
- Pre and Post Test
Fees
The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack is:
- Last updated on .