Budgeting, Forecasting, Business Planning and Economic Modelling Course
Accounting, Finance and Budgeting Training
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Budgeting, Forecasting, Business Planning and Economic Modelling Course
Course Overview:
The Budgeting, Forecasting, Business Planning and Economic Modelling course to the participants imparts essential skills which are necessary for making strategic financial plans and decisions.
At the end of the course, the learners will have the capability of preparing budget estimates, representation of management accounts, and performance of financial prediction techniques including time value for money and regression.
Activity based budgeting, capital budgeting, project appraisal, and business plans for attracting investments are the major topics to be addressed. Also this course goes into the significance of KPIs, relevance of financial modelling and cash flow management in enhancing profitability. Participants will acquire skills on how to evaluate the attractiveness of investments and how to incorporate business planning towards enhancing organizational performance and resource mobilization.
Course Objectives:
At the end of this Budgeting, Forecasting, Business Planning and Economic Modelling, you will be able to :
- Develop the basics of strategic financial planning
- Apply the latest financial analysis techniques
- Use the tools of finance, such as the time value of money
- Calculate accurate budget forecasts for the business and individual business units.
- Produce management accounts.
- Manage succession in the business and significant exits.
- Plan for future acquisitions and disposals.
- Develop the financial, management and forecast information that will enable you to develop a robust business plan.
- Develop key performance indicators – both financial and non-financial – to help you to improve business, department and individual employee performance.
- Analyze cashflows to improve product/service profitability.
- Develop your pitch to the bank and/or other investors in order to secure additional finance.
- Describe the structure of a business plan and how it caters to market and organizational needs
Who Should Attend?
Budgeting, Forecasting, Business Planning and Economic Modelling training course, is ideal for:
- Financial Accounting Team Members
- Cost and Management Accounting Staff
- Finance Managers
- Planning Managers
- Commercial Managers
- Capital Investment and Project Team Members
Course Outlines:
Budgets and Strategy in Today’s International Environment
- Organizational planning framework
- The product / information / decision support cycle
- Strategic, tactical and operational forecasts
- The strategic approach to business planning
- Various strategic and tactical approaches to business planning
- The international business environment
The Business Plan and Budget Development
- Developing the business plan
- Identification of key value drivers
- Achieving objectives
- Zero base budgeting
- Activity based budgeting
- Developing the Cash Budget
Analyzing the Applicability of Historical Data Using Excel
- Problems of forecasting
- Using historical data to help predict the future
- Forecasting
- Development of Time Series Models
- Using Regression Analysis as a predictor and estimator
- Mastering the use of Exponential Smoothing as a Data Analysis tool
Using Activity-Based Budgeting and Cost Analysis Techniques
- Cost behavior and breakeven analysis
- Activity-based costing
- Budgeting for Processes rather than Departments
- Defining Key Cost Drivers
- Defining Key Activities
- Developing the Activity-Based Budget
Capital Budgeting and Project Appraisal
- Identify the various types of capital projects
- Discuss the capital project evaluation process
- The impact time has on the value of money
- Using WACC and ROIC as benchmarks
- Development of the "Hurdle Rate" for capital projects
- Evaluate capital projects by applying NPV, IRR, ARR Payback model
Financial and economic modelling economic Modeling
- How does financial and economic modelling work in real business?
- What results can a company achieve using financial and economic modelling?
- What is the role of a Financial Analyst in building an optimal business model?
Investments
- What are Investments carried out by a business?
- What are the indicators that assess the degree of investment attractiveness?
- How to make the right decision regarding the real attractiveness investments?
- What is the role of a financial analyst in making investment decisions?
Financial and economic modelling and Investments as one whole
- Why it is so important to build a business that is attractive to investors?
- How to increase business capitalization?
- What is the role of a financial analyst in the growth of capitalization?
Assessment of the investment attractiveness of public companies
- How to read financial statements correctly in the example of Apple inc.?
- Financial analysis of Apple inc. Investment potential of Apple inc...
Business Plan Components
- Commence with objectives, scope, statement of the problem or remit
- Executive Summary
- Report Body
- Conclusions
- Recommendations
- Supporting papers
- What order is best for the above
Business Plan Contents
- Does it focus properly on the recipient
- What is the style, experience, purpose and expectation
- What is the report’s objective – is it clear
- What are the readers’ expected knowledge, intentions, seniority
- What is the report meant to achieve
- Are there any sensitivities
- What is expected of you as the reader
Implementing the Plan
- What Balanced scorecard will be used
- Is it tried and tested and fit for purpose
- Change management capabilities
- Key drivers
- Key responsibilities
- KRI’s & KPI’s
- How will success be measured
- What will the early warning signs be
- Who will have strategic control and oversight responsibility
- What MI or data will be made available to enable stakeholders to review progress
