Open Courses

Budgeting and Forecasting for Modern Organisations


(3 Reviews)


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.

10 days

London | £5750


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


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
  • Performance Management
  • Financial Management
  • Forecasting
  • Budgeting
  • Capital Budgeting/Investment Appraisal
  • Strategic Planning, Formulation and Design