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Budgeting, Forecasting and Planning

  • Overview ImageOverview
  • Outline ImageCourse Outline
  • Scheduled ImageScheduled Dates

Course Overview

Managers have financial responsibilities and many have budgets to write and control and face many decisions that require forecasting and planning i.e. preparing their budgets. Using Oil and gas industry examples and exercises, this course aims to break down some of the financial barriers in an entertaining and informative style, with numerous examples. Bring your calculator. It gives an insight into the world of budgeting for financial and non-financial managers and professionals.

Objective:

  • Define Planning and its Purpose
  • Describe the Planning and Budgeting Cycle
  • Explain the Strategic Planning Process
  • Describe the Major Elements of the Annual Business Plan
  • Understand why you must link budgeting and forecasting to planning and performance
  • Describe and Perform the Basic Steps in Preparing a Comprehensive (Master) Budget
  • Prepare a Capital Budget
  • Determine and Investigate Budget Variances
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Course Outline

Day 1: Introduction

  • The Planning Process
  • Need and system of Plans
  • Steps in Developing the Near-Term Sales Plan
  • Sales Forecasting
  • How to measure cost behaviour using the account analysis, high-low, visual-fit, and least-squares regression Methods?

Day 2: Budget and Budgeting

  • Definition of Budget 
  • Strategic Focus on Budgeting
  • What are the Advantages of Budgets?
  • Management Support
  • Time Coverage of Budgets
  • Types of Budgets

Day 3: Budgeting and Planning

  • Strategic Planning and Budgeting Process 
  • Why must you link budgeting and Forecasting to Planning and Performance?
  • Budget Participants and Budget Preparation Procedure.
  • Participative Budgeting and the Importance of Communication in an Effective Planning Process.
  • Building the Budgeting Model
  • Prepare the budget structure
  • Writing the budges
  • Monitoring
  • Comprehensive (Master) Budgeting
  • How to manage the cash Resource
  • Objectives of Cash flow and Working Capital Management
  • Cash flow Reporting

Day 4: Capital Budgeting

  • What is Capital Expenditure?
  • Nature of Capital Investment Decisions
  • What is Capital Budget?
  • Stages of Capital Budgeting Process
  • Relevant Cash Flows
  • Methods of Evaluating Capital Investments

Day 5: Budgeting and Control

  • Flexible Budget and Overhead Analysis
  • The advantages of the flexible budget approach over the static budget approach.
  • Prepare a performance report for variable and fixed overhead costs using the flexible budget approach.
  • Use the flexible budget to prepare a variable overhead performance report containing only a spending variance
  • Use the flexible budget to prepare a variable overhead performance report containing spending and efficiency variance.
  • Explain the significance of the denominator activity figure in determining the standard cost of unity of the product.
  • Apply overhead cost to units of product in a standard cost system.
  • Compute and interpret the fixed overhead budget and volume variances.
  • Variances Investigation
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Schedule & Fees

3 For 2Offer

Get the most out of group training with our special discount! Register 3 of your participants together on the same course and only pay for 2.

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  • Finance and Accounting

London

$4,900

London

Duration: 20 CPD hours (5Days)

date: 06 - 10 May 2024

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  • Finance and Accounting

Vienna

$4,900

Vienna

Duration: 20 CPD hours (5Days)

date: 08 - 12 Jul 2024

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  • Finance and Accounting

London

$4,900

London

Duration: 20 CPD hours (5Days)

date: 22 - 26 Jul 2024

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  • Finance and Accounting

Milan

$4,900

Milan

Duration: 20 CPD hours (5Days)

date: 12 - 16 Aug 2024

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  • Finance and Accounting

London

$4,900

London

Duration: 20 CPD hours (5Days)

date: 28 Oct - 01 Nov 2024

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  • Finance and Accounting
Marrakesh

Duration: 20 CPD hours (5Days)

date: 25 - 29 Nov 2024

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  • Finance and Accounting

London

$4,900

London

Duration: 20 CPD hours (5Days)

date: 16 - 20 Dec 2024

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  • Finance and Accounting

Budgeting, Forecasting and Planning

Duration:5 Days (20 CPD hours)

date:06 - 10 May 2024

London

London

$4,900


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Frequently Asked Questions

How can training courses be used as a company benefit?

Training is hugely beneficial to both yourself and your company. It enables you to employ new technologies, increases your productivity and enables you to be more autonomous. Have a look here at our infographic on the importance of training and development!

How often do you update your course content to ensure relevancy?

Our course content is constantly reviewed and updated to ensure we stay up to date with all the latest trends. After every course is completed we review the feedback and improve the material where necessary.

Do you keep your classroom environment and instructional methodologies current with today’s real-world workplace?

Yes, we focus our training on ‘real-world’ scenarios and our trainers are all highly experienced and skilled in their relevant fields.

Are your courses eligible for professional certification?

Yes, we offer certification with all our courses, every course is entitled to CPD (Continuous Professional Development) hours which you can put towards your professional portfolio.

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Budgeting, Forecasting and Planning

  • United KingdomLondon
  • calendar06 - 10 May 2024
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  • United KingdomLondon
  • 06 - 10 May 2024
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