Advanced Planning, Forecasting And Budgeting

This course examines traditional budgetary and planning processes, considers alternative techniques and their implications and means to improve forecast accuracy. It will examine the needs and imperatives of operational management and look at how managers and accountants can speak a common language through the planning and budgetary processes.
Key areas covered

• What do we want from a budget?
• overcoming forecast and budgetary problems - uncertainty, lacking transparency, forecast accuracy, objectivity;
• alternatives to traditional approaches - rolling forecasting, zero-based, activity-based and output budgets;
• binding budgets to strategy and planning processes;
• Making budgets ‘management friendly’.

Course Objectives

• Understanding the implications of the changing business environment for the planning processes;
• understanding the limitations of traditional budgetary and forecasting processes;
• awareness of the importance of non-financial elements in budgets and forecasts;
• the ability to bring strategy, budgeting and planning into alignment;
• Increased management buy-in through linkage to operational needs.

Who Should Attend?

Finance directors, financial controllers, management accountants and senior operational management.

Course Outline

• 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 Methodology

A variety of methodologies will be used during the course that includes:

• (30%) Based on Case Studies
• (30%) Techniques
• (30%) Role Play
• (10%) Concepts
• Pre-test and Post-test
• Variety of Learning Methods
• Lectures
• Case Studies and Self Questionaires
• Group Work
• Discussion
• Presentation

Course Fees

This rate includes participant’s manual, Hand-Outs, buffet lunch, coffee/tea on arrival, morning & afternoon of each day.

Course Timings

Daily Course Timings
08:00 - 08:20       Morning Coffee / Tea
08:20 - 10:00       First Session
10:00 - 10:20       Coffee / Tea / Snacks
10:20 - 12:20       Second Session
12:20 - 13:30       Lunch Break & Prayer Break
13:30 - 15:00       Last Session