Manage Budgeting and Forecasting Processes for the Business Unit (BM-FIN-403E-1)

Course details

This unit will equip you with appropriate knowledge, skills and attributes for recommending parameters, preparing and analyzing financial forecasts, implementing and managing budget plans and monitoring budget outcomes.

Course Outline

At the end of the course, participants will be able to:

1. Recommend parameters and assumptions in accordance with organisational needs and market conditions.

• factors in internal/external environments that impact budget
• methods of analyzing budget history and trends for business unit

2. Prepare and analyze financial forecasts to facilitate financial and business planning.

• methods to forecast revenue, expenses and balance sheet for business unit

3. Implement budget plans to manage resource allocation to business activities

• types of budget controls and their purposes

4. Manage budget to enable the actual financial operation of organization to be measured against forecast

5. Monitor budget outcomes to ensure that resources are used for their intended purposes and properly accounted for in consultation with relevant stakeholders

6. Present financial forecasts, budgets and budget outcomes to immediate supervisors for review and approval.

Who Should Attend

Executives, managers who need to know or are involved in financial forecasts and budget plans.