The companies intend to succeeded within today’s turbulent markets their Business Plans must be look at carefully and constantly integrated with Budgeting, Forecasting and Cost Analysis Forecasting and the Planning Process training seminar provides the theoretical basis and necessary skills to develop world class strategic planning, forecasting and budgeting processes. A strategy is a long-term plan of what an organisation is going to do to achieve its overall policy. This course will provide not only the theoretical background but also the necessary skills to build world class standards into your planning, budgeting, performance measurement and reporting system. The course will concentrate on imparting to delegates how to learn the concepts, processes, and techniques of budgeting and business planning in order to be better able to carry out their budgeting and business planning tasks and responsibilities.
Organizational Planning and Control Framework
The Product / Information / Decision Support Cycle
Strategic, Tactical, and Operational Forecasts
The recognition of risk in Models
The Drive Toward Shareholder Value
The purpose of planning and budgeting in business
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)
Stages in the Budget Preparation Process.
To Budget or Not – Purposes and Reasons for Budgets.
Activity Based Budgeting (ABB).
Developing the Cash Budget.
Identification of key value drivers.
To Budget or Not – Purposes and Reasons for Budgets
Stages in the Budget Preparation Process
Preparation of the Master Budget
Activity Based Budgeting (ABB)
Responsibility Accounting and Variance Analysis
Standard costing; flexed budgets; budgetary control to measure organizational and management performance
Advantages, Disadvantages and Behavioral Aspects of Budgeting
The Conflict between Performance Improvement and the Costing System
Lean thinking and integrating continuous performance improvement into the Budget Process.
Identify the many kinds of Capital programs.
Using WACC and ROIC as benchmarks.
Development of the “Hurdle Rate” for capital projects.
The key to effective decision making is evaluating and selecting the most valuable among the options.
The effect period has on the value of money.
Define the strategic approach to business planning
Build the strategic planning model using financial data
Use Budget Models for Simulation Purposes
Apply Various strategic and tactical approaches to business planning
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