Budgeting and Forecasting for Modern Organisations

Darren Sparkes

Companies operate in an increasingly competitive and volatile environment and it is critical that they have the use of financial tools that can help them survive and prosper. This course will explore and explain one of the most powerful management processes in use today: budgeting. The end result of the budgeting process is the preparation of plans and actions for future periods. These plans co-ordinate and reflect the various activities within an organisation and assist in organisational control, decision-making and performance evaluation.

WHO SHOULD ATTEND

This practical course is designed for managers, directors, executives and all those who are involved in the budgeting process.

COURSE PROFILE

The planning process. Establishment of objectives - Identification of strategies - Evaluation and selection of alternative strategic objectives

Budgeting: in the beginning. Identifying the limiting factors - Budget assumptions and limitations - Budget committee and co-ordination

Budgeting: the next stage. Determining the sales budget - Preparation of functional and operational budgets

Budgeting: final stages. Capital expenditure budgets - Simulation and sensitivity analysis

Budgeting: implementation. Budget phasing - Budget distribution - Budget reporting and monitoring

Application of quantitative techniques to budgeting. Cost estimation methods - Regression analysis - Learning curve applications - Economic order quantity - Probability theory and inventory management

Information technology and budgeting. Spreadsheets, databases and the internet

Management control systems. Feedback controls - Feed-forward controls - Responsibility centres

Alternative budgeting approaches. Flexible budgeting - Activity based budgeting - Zero based budgeting

Modern performance management and evaluation

SKILLS ATTAINED

At the end of the course delegates will be able to:

Create and assess budgets
Develop activity based budgets
Identify and establish financial plans
Develop a capital expenditure budget
Create financial forecasts
Implement zero-based budgeting techniques
Apply regression analysis techniques
Create inventory management procedures
Identify performance targets and opportunities
Understand and implement financial management skills

COURSE DATES

COURSE REF: F15
Nov 22 '10 - Dec 03 '10
Jan 17 '11 - Jan 28 '11
£5,350.00

TESTIMONIALS