Euro-training Center
 Advanced Budgeting Workshop  (F12393) QR Code

Advanced Budgeting Workshop


Budgets are an essential financial tool, which aid, planning, decision making, resource allocation, co-ordination and control.
Without the necessary skills Budgets can be badly prepared and/or implemented leading to poor decisions, mid-use of vital resources, poor co-ordination and a lack of control or even too much control resulting in missed opportunities.

The Benefits:

  • You will be able to further your professional skills.
  • You will be able to make more informed and hence better planning, budgeting and forecasting decisions using various models and software.
  • You will make improved budgeting decisions which will increase your importance to your organization
  • You will be better placed to liaise effectively with other departments on planning, forecasting & budgeting matters.

Target Competencies:

  • Budgeting.
  • Building models in Microsoft Excel.
  • Forecasting.
  • Evaluating proposals.
  • Applying Microsoft Excel functions and tools.
  • Assessing budgeting process.

The Programme Content:

Budgeting and planning:

  • The budget and the functions of management.
  • Budget as a planning tool.
  • Budgets and the key financial statements.
  • The top-down versus bottom-up process.

Budget cycle, process and approaches:

  • The budget cycle.
  • Characteristics of successful budgeting.
  • Making the budget a value-adding activity.
  • Top ten problems with budgeting.
  • The master budget and its components.
  • Operating and capital budgets.
  • Best practices in budgeting.
  • Creating a user friendly budget template.
  • Choosing the proper budgeting approach:
  1. Incremental budgeting.
  2. Zero-based budgeting.
  3. Flexible budgeting.
  4. Kaizen budgeting.
  5. Activity based budgeting.
  6. Rolling (continuous) budgets and forecasts.

Variance Analysis, Reporting, Control and Decision Making:

  • Accounting Systems, Accountability and Responsibility Systems.
  • Essential Elements of a Costing System.
  • Establishing and Implementing a Costing System.
  • Undertaking Variance Analysis and Presenting a Variance Report to decision makers.
  • Evaluation of the results.
  • Making Strategic Decisions based on the Variance Report/Business Planning.

Forecasting techniques:

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

Advanced capital budgeting evaluation techniques:

  • Business risk and cost of capital.
  • Classifying investment projects.
  • Cash flow estimation.
  • Analyzing investment and operating cash flows.
  • The time value of money concept.
  • The required rate of return.
  • Net Present Value (NPV).
  • Internal Rate of Return (IRR).
  • Multiple internal rates of return.
  • Modified Internal Rate of Return (MIRR).
  • Profitability Index (PI).
  • Payback period and discounted payback period.
  • Capital rationing.
  • Comparing and evaluating techniques.
  • Sensitivity and risk analysis.

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 mode.

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