Budgeting, Forecasting and the Planning Procedure

After completing this course on budgeting, forecasting, and the planning process, participants will be able to: 

• Boost their capacity for strategic thought and involve them in the budgeting and strategic management procedures of the company.
• Utilise forecasting methods that are best compatible with the strategic planning and budgeting of their company. 
• Utilise the strategies related to the following fundamentals of financial management: cash flow, time value of money, risk, and shareholder wealth maximisation.
• Recognise how expenses behave and choose the costing techniques that work best for financial planning, budgeting, and budgetary management.
• Create operational budgets, capital expenditure budgets, and cash flow predictions using best practices that align with the strategic goals of the company. 

In this training course, analytical methodologies, case studies, and examples will all be presented. Worked examples that are pertinent will demonstrate the concepts, instruments, and methods in an authentic setting. Discussions in groups will encourage the sharing of ideas and experiences. 

The applicability of the subjects presented will be reinforced by the interactive team case studies and activities. Your Instructor's guidance and vast practical experience, together with his understanding of forecasting, budgeting, and strategic planning, serve to support these. The goal is to make studying mathematics entertaining, thus challenging ideas are reduced and presented in an understandable visual format wherever feasible.

The following improved knowledge and skill set that participants in this training session on budgeting, forecasting, and the planning process will bring back to their organisation: 

• Understanding the connections between budgets and strategic financial plans through strategic thinking
• Utilising Efficient Predictive Methods 
• Risk Management and Analysis
• The process of determining the best financing options and ideal capital structures
• Creation of Contemporary Methods for Planning, Budgeting, Costing, and Budgetary Control
• Cash Forecasting and Budgeting for Capital Investment Projects 

The following areas will see a significant improvement in the delegate's planning and budgeting skill set: 

• Financial planning, strategic analysis, and the use of strategy maps such as the Balanced Scorecard
• Utilising Qualitative and Quantitative Forecasting Methods and Instruments, as well as Assessing Financial and Business Risk 
• Activity Based Costing (ABC), Marginal Costing, Cost-Volume-Profit (CVP) Analysis, and Activity Based Management (ABM)
• Creating Cash Budgets and Forecasts, Operating Budgets, and Utilising Activity Based Budgeting (ABB), Flexible Budgets, and Variance Analysis to Control Spending 
• Assessment of substitute Funding, Capital Structure Optimisation, and Calculation of Equity, Debt, and Weighted Average Cost of Capital (WACC)
• Utilising Discounted Cash Flow (DCF) Methods for Capital Project Investment Appraisal and Capital Budgeting: Net Present Value (NPV), Internal Rate of Return (IRR), Modified Internal Rate of Return (MIRR), Equivalent Annual Cost (EAC), and Profitability Index (PI)

Anyone active in budgeting and planning in businesses, organisations, and governmental, educational, and health care organisations should find this Course N Carry training course appropriate. It is equally beneficial to those employed in the accounting, treasury, costing, and finance departments, as well as to all other financial and non-financial professionals that oversee budgets or participate in planning processes, such as: 

• Supervisory Personnel
• Supervisors of Projects 
• Professional advisors and consultants who want to improve their ability to think strategically, make decisions, and renew and update their knowledge of planning, forecasting, budgeting, and the connections between these concepts