Budgeting & Forecasting for Modern Organisations (F15)

objectives

Companies operate in an increasingly competitive and volatile environment and it is critical that they have the use of management tools that can help them survive and prosper.

This course will explore and explain one of the most powerful management processes in use today, namely 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 programme is designed for managers, directors, executives and all those who are involved in the budgeting process.

programme 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 & 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

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