Advanced Financial Budgeting and Forecasting Certification Training Course

Why select this training course?

Three phases usually involve establishing and outlining a company’s financial plans for the near, intermediate, and far futures: planning, budgeting, and forecasting. A company’s ability to accurately predict its financial future and increase its revenue is directly tied to the quality of its planning, budgeting, and forecasting process. In today’s economic climate, when innovative new entrants are challenging long-established markets, this is more crucial than ever.

What is the need for forecasting and budgeting in business?

Budgeting and forecasting are procedures that are used by almost every firm. Whether you are an owner, CFO, or operations manager, you should constantly look for ways to improve them. Strategies, plans, and future objectives may all be better aligned throughout a business with the aid of budgeting and forecasting. Both steps are essential to any company’s development but are more critical while facing transition. Financial planning and budgeting may result in significant time savings, fewer mistakes, more teamwork, and a more focused management culture—all of which amount to considerable competitive advantage. Companies may swiftly adjust their projections and strategies in reaction to emerging possibilities and dangers and pinpoint potential trouble spots in time to address them before they spiral out of control with its aid.

Why do I need to learn advanced financial budgeting and forecasting?

The ability to make adequate budgets and long-term plans is a skill that is essential for anybody working in the business. These abilities will make it simple to craft a strategic objective and a long-term strategy that can be implemented. Having a prosperous firm without a well-thought-out plan based on predicting data is very unlikely. For this reason, all company heads, managers, and directors should attend this training to learn how to interpret financial data and incorporate it into strategic decisions.

The Advanced Financial Budgeting and Forecasting Certification Training Course by Rcademy will empower professionals who wish to make strategic decisions in their businesses, organizations, and companies to understand budget statements, make sound decisions, and measure performances based on accurate metrics. This training course will cover beyond the fundamental theories of budgeting and forecasting and focus on more profound and specific steps to make a value-added process in budgeting and forecasting for the ultimate profit of any organization. You will learn how to utilize contemporary budgeting software, which you can use in your own company or organization.

Who should attend?

The Advanced Financial Budgeting and Forecasting Certification Training Course by Rcademy are ideal for:

• Finance directors
• Accountants
• Managers
• Budget analysts
• Budget controllers
• Budget owners
• Chairperson of companies
• Senior executives
• External and internal auditors
• CEOs, COOs, and CFOs
• Professionals associated with finance functions
• Business owners and entrepreneurs

What are the course objectives?

The main objectives of The Advanced Financial Budgeting and Forecasting Certification Training Course by Rcademy are to enable participants to:

• Evaluate capital budgeting decisions using several techniques and in a recommended way
• Evaluate the budgeting process in their company, business, and organization while providing recommendations for improvement
• Apply several forecasting techniques and methods to manage uncertainties in budgeting better
• Create budget templates and models for their businesses
• Utilise existing software functions and other tools used in the budgeting process, including optimization and breakeven analysis
• Implement advanced control and planning techniques in their budgeting process
• Successfully develop a better reporting process that will work, including planning and budgeting
• Identify tools, methods, and plans to improve decision making
• Forecast organizational finances
• Develop a decision-making procedure or plan to support better performance
• Strategically use the tools and skills learned to contribute to the development of their business and organizations

How will this course be presented?

This Rcademy training course will utilize methods that have been well researched and determined to work when training professionals to solve real and practical problems in the field.

Methods of delivering this training course include:

• Presentations and Management Games
• Group Discussions
• Assignments and interactive exercises
• Case studies, etc.

What are the topics covered in this course?

Module 1: Budgeting and Planning

• Budgets and the critical financial statements
• The three horizons of growth models
• Organization planning and control framework
• The recognition of risk models
• The drive toward shareholder value
• The product decision support cycle
• Using a budget model for simulation purposes
• Various strategic and tactical approaches to solving multiple organizational problems
• Understanding what strategies are used in planning
• Building a better reporting of financial data
• The purpose and importance of planning and budgeting

Module 2: Using Excel ™ in Defining and Testing Optimisation

• Creating different models for financial data analysis
• The basic structure of all optimization models
• Interpreting results from various models and understanding the reports
• Optimization model structure and details
• Different forms and applications of optimization models

Module 3: Advanced Budgeting Evaluation Techniques

• Multiple internal rates of successful returns
• Net present value
• The required techniques for budget evaluation
• Modified internal rate of return (MIRR)
• Business risk and cost of capital
• Analyzing investment and operating cash flow
• Profitability index
• Sensitivity and risk analysis
• Internal rate of return (IRR)
• Different vital concepts of money
• Cash flow estimations
• Classifying investment projects
• Capital rationing
• Comparing and evaluating techniques
• Net present value (NPV)

Module 4: Forecasting Techniques

• Simple and multiple regression analysis
• Qualitative and quantitative methods
• Time series and trend analysis
• Forecasting models
• Exponential smoothing and moving averages
• Steps in developing forecasting models
• Data conditioning techniques

Module 5: Approaches to Budget Development

• Program budgeting
• Rolling budgets
• Zero-based budgeting
• Developing the cash budgets
• Activity-based budgeting
• Operational unit budgeting
• Understanding activity-based budgeting
  – Defining key activities
  – Developing the activity-based budget
  – Developing ABB application model
  – Defining key cost drivers

Module 6: Modelling Projected Financial Statements

• Modeling the balance sheet forecast
• Micro and macro factors
• Forecasting cost of sales
• Forecasting the critical assets and liabilities accounts
• Forecasting sales
  – Developing sales forecast
  – Estimating organizational demand level
  – Estimating market demand levels
• Modeling the income statement forecast
• Forecasting operating expenses

Module 7: Understanding Budge Statements

• Statement cash flows
• Balance sheet and reporting
• Budget assumptions
• Profit and loss statement
• Details of budget statements

Module 8: The Role of the Budgeting Cycle and Process

• Characteristics of successful budgeting
• Top ten problems with budgeting
• The master budget and its components
• Best practices in budgeting
• Making the budget a value-adding activity
• Creating a user-friendly budget template
• The budget cycle
• Operating and capital budgets