Training Course on Financial Planning, Budgeting and Forecasting
The strategic planning process involves three key stages: planning, budgeting, and forecasting, aiming to identify and articulate an organization’s long- and short-term financial goals. Typically overseen by the finance department, planning establishes the financial trajectory of the company and constructs a model of anticipated outcomes. Budgeting then outlines the month-to-month execution of the overall plan, encompassing revenue and expense estimates, along with projections for cash flow and debt reduction. Forecasting utilizes historical data and market conditions to predict future financial outcomes for months or years ahead. This training on Financial Planning, Budgeting &Forecasting provides participants with the knowledge and skills necessary to develop effective strategic planning, forecasting, and budgeting procedures.
Target Participants
This training is designed for professionals with direct or indirect budgetary responsibility within a team, department, or division. The training is also ideal for managers and individuals who handle budgetary, operational and strategic plans.
What you will learn
By the end of the course the learner should be able to:
- Strengthen their strategic thinking skills and contribute effectively to the integration of the organization’s strategic management with financial planning, budgeting &forecasting.
- Apply appropriate forecasting methods tailored to the organization’s strategic planning and budgeting needs.
- Understand the behavior of costs and identify costing techniques applicable to financial planning, budgeting, and budgetary control.
- Implement best practices in developing operating, capital, and cash flow budgets and forecasts aligned with the organization’s strategic objectives.
Course duration
5 days
Course Outline
Strategic Management and Financial Planning
- Organizational planning framework
- Strategic, tactical, and operational forecasts
- The strategic approach to business planning
- Various strategic and tactical approaches to business planning
- Links between strategy, forecasting, planning, budgeting, and performance measurement
- Capital structure optimization models
Budget Framework and Budget Development Process
- Common budgeting approaches/models
- Process flow within an organization
- Budgeting in small and large companies
- Top-down vs. bottom-up involvement
- Sources of information
- Revenue and cost drivers
- Relationship between activities, resources, costs, and cost drivers
- Building the budget
Financial Forecasting
- Introduction to financial forecasting
- Importance of financial forecasting
- Types of financial forecasting
- Steps in financial forecasting
- Financial forecasting techniques
Risk Analysis
- Types of financial risks
- Financial risk assessment
- Financial risk management strategies
Cost Analysis Techniques
- Cost behavior and activities
- Fixed and variable costs, direct and indirect costs
- Product costs and period costs
- Cost allocation and absorption of overheads
- Absorption or full costing
- Marginal costing
- Cost-volume-profit (CVP) and ‘what-if’ analysis using Excel
- Activity-based costing (ABC) and Activity-based management (ABM)
Financial Appraisal and Capital Budgeting
- The time value of money
- Future values
- Present values
- Discounted cash flow
- Capital investment and project appraisal techniques
- Capital rationing
- Capital budgeting and the profitability index
Performance Management
- Monitoring against key performance indicators
- Performance reporting
- Variance analysis
- Action planning
Training Schedule – Africa
Training Schedules per Continent
Training Approach for Financial Planning, Budgeting &Forecasting
This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group works and case studies.
Training manuals and additional reference materials are provided to the participants.
Certification
Upon successful completion of this course, participants will be issued with an internationally recognized certificate. Altum Training and Research Institute is NITA certified. Read more.
Tailor-Made Course on Financial Planning, Budgeting &Forecasting
We can also do this as a tailor-made course to meet organization-wide needs. Contact us to find out more info@altumtrainings.com
Payment
The training fee covers tuition fees, learning materials, and training venue. Accommodation and airport transfer are arranged for our participants upon request.
Payment should be sent to our bank account before start of training and proof of payment sent to info@altumtrainings.com
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