Budegting & Forecasting for managers
Duration : 5 days
In tough economic times, effective financial management is crucial. Many managers lack training in developing effective budgets, leading to poor decision-making. This training emphasizes the importance of strong financial management for organizational success.
Participants will learn practical techniques for budget creation and management, including evaluating costs, identifying inputs and outputs, preparing for challenges, and achieving financial goals. This program aims to make budgeting a compelling and useful tool for decision-making, cash flow planning, and operational judgments.
Learning Objectives
Recognize concepts, strategies, and practices applied in various business contexts.
Apply budgeting techniques, principles, and practices effectively.
Evaluate the use and significance of budget forms for organizational decision-making.
Training Program
Introduction to Budgeting
Assessing Organizational Spending Budgets
Assess organization existing spending budget, manager’s funds, spending budget forms, and pre-budgeting activity
Recognize natural issues in the process of budgeting
Understanding Budget Plans
Evaluation of Budget Plans
Evaluate how budget plans enable the presence of inherent issues
Recognize the “must” components of preparing a budget
Evaluate your financial plans
Organizational Outputs and Inputs
Identifying Organizational Outputs and Inputs
Identify and determine an organization’s outputs
Determine what controls those outputs
Verify types of organizational inputs
Integrate the inputs specific to your organization
Cost Identification and Uncertainty Preparation
Managing Costs and Uncertainty
Identification of costs and cost drivers
Preparation for uncertainty
Realizing assumptions as vital tools to overcome uncertainty
Determine uncontrollable internal factors and external environmental factors
Provide individuals with resources to properly communicate problems and opportunities to employers, subordinates, and peers
Revenue Forecasting and Budget Approval
Budget Numbers and Revenue Forecasting
Recognize the sources of budget numbers
Specify the crucial questions that should be answered prior to revenue forecasting
Recall the concepts of proper cost budgeting
Verify the various kinds of capital expenditures
Formulate procedures for getting budget approval
Transfer Your training path continues in your participant space. Log in to access resources, self-assess your skills acquired during your training, and facilitate the implementation of your commitments in your professional context.
Key Points
Numerous practical examples illustrating the different studied concepts
Practical cases carried out in Excel by the participants at each key stage of the training
Who Should Attend This Training
All managers and management employees and their assistants who are involved in the budgeting process.
All who needs to set and manage budgets but don't have the expertise or specific training in this area of finance.
Prerequisities
Have knowledge of accounting basics
Teaching Methods
Training structured around skill transfer
Acquisition of operational skills through practice and experimentation
Collaborative learning during synchronous sessions
Multi-stage learning path to allow engagement, learning, and transfer
Training promoting participant engagement for better anchoring of lessons
Satisfaction and Evaluation
Skill evaluation will be conducted throughout the training by the participant (self-evaluation) and/or the trainer according to the training methods.
Online training evaluation on your participant space:
Immediate evaluation at the end of the training to measure your satisfaction and perception of skill improvement against training objectives. With your agreement, your overall rating and comments will be published on our site via Verified Reviews.
Post-training evaluation 40 days later to validate the transfer of your acquired skills in the workplace.
Attendance tracking and issuance of an individual training certificate or a certificate of completion.
LONDON
128 City Road, EC1V 2NX London
PARIS
38 Rue Boulard, 75014, Paris