- Duration: 5 Days
Course details
Objectives:- How to implement advanced planning and control techniques into your budgeting process
- Know how to integrate the budgeting process with the development of the company's long-term strategic vision
- Know how to provide a decision support structure that provides timely and useful information to decision makers
- Successfully build an integrated planning, budgeting and reporting process
- Know how to forecast costs and revenues with greater confidence
- Apply management tools to the budgeting process that contribute to strategic goals
- Effectively manage the budgeting process
- Identify key performance indicators for effective and focused decision making
- Develop ways to increase profitability and performance through stream lined planning and reporting
Budgets in Today's International environment
Planning In the Organization
- Organizational Planning and Control Framework
- The Product / Information / Decision Support Cycle
- Strategic, Tactical, and Operational Forecasts
- The recognition of risk in Models
- Using Budget Models for Simulation Purposes
- The Drive toward Shareholder Value
- The purpose of planning and budgeting in business
- Defining the strategic approach to business planning
- Defining strategic assumptions
- Building the strategic planning model using financial data
- Various strategic and tactical approaches to business planning
- Defining the Decision-Support model: Assumptions / Goals and Key Success Factors
- Recognizing the Basic Patterns Inherent in Historical Data
- Using the Exploratory Data Analysis Tools Available in Excel®
- Development of Time Series Models using histograms, moving averages, exponential smoothing and regression analysis
- Using Regression Analysis as a predictor and estimator
- Mastering the use of Exponential Smoothing as a Data Analysis tool
- Single Regression vs. Multiple Regression
- Validation of Time Series Analysis
Types of Budgets
- Zero Base Budgeting
- Activity Based Budgeting
- Rolling Budgets
- Operational Unit Budgeting
- Programme Budgeting
- Developing the Cash Budget
- Developing the ABB application model
- Budgeting for Processes rather than Departments
- Defining Key Cost Drivers
- Defining Key Activities
- Development of ABB Cost Standards
- Developing the Activity-Based Budget
Types of Costs
- Identifying fixed, variable and semi-variable costs
- Application of Regression in the development of budgets
- Building the financial simulation model using articulated financial statements
- Building the financial simulation model using simulation
- Material Standard Development
- Labour Standard Development
- Factory and Corporate Overhead Standard Development
- Variance Analysis
- Basic Structure of All Optimisation Models
- Different Forms and Applications of Optimization Models
- Developing a Financial Optimisation Model
- Performing Sensitivity Analysis of an Optimisation Model
- Interpreting the Solution of an Optimisation Model to a Non-technical Manager
Job roles this course is suitable for:
Budgeting and Forecasting , Budget Manager , Forecasting Analyst , Budget AnalystAbout Global Development for Training
Introduction:
Training has become of great importance to managers of various organizations and institutions where training is an effective way to increase employee's efficiency at all stages of his work. It develops his abilities, skills and provides him with new information which is an influential factor in the process of upgrading the employee and increases his authorities and responsibilities.
The last two decades have witnessed a major transformation in the training knowledge. It has become Knowledge-based science; it is the only way to progress and development.
The need of Knowledge-based science is now a scale of new wealth. It requires a distinct type of education and lifelong training in acquiring knowledge and updating on an ongoing basis. This was an important reason that led to establishment of Global Development for Training (G.D.T).
Establishment:
Global Development for Training was established in 2012 in UAE - Permit No. 91,288 in Dubai to provide training and consulting services and staff development with the latest training methods in the world and in line with the global market to meet all the strategic requirements of the global markets in an environment based on modern knowledge, through the best human development trainers in the Arab world and the rest of the world, to reach the highest level of quality, creativity and developing clients and participants.
Vision:
To be one of the best training centers in the world which train and qualify the leaders and staff of the Arab World with the latest training methods in the world.
Mission:
We seek to provide strong training base to provide training and consulting services that meet all the strategic requirements for global markets in an environment built on knowledge, and through professionals Instructors in the world. Therefore, we put our goals in order to reach the highest levels of quality and creativity.
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