Advanced Budgeting and Forecasting Global Development for Training

Price: AED 9,183

Duration: 5 Days
Call: +971 4 5490356

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

Outline:
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 Strategic Plan

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

Analysing the Historical Data Using Excel

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

Approaches to Budget Development
Types of Budgets

Zero Base Budgeting
Activity Based Budgeting
Rolling Budgets
Operational Unit Budgeting
Programme Budgeting
Developing the Cash Budget

Using Activity based Budgeting

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

Strategic and Operational Cost Analysis Techniques
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

Developing Manufacturing Standards

Material Standard Development
Labour Standard Development
Factory and Corporate Overhead Standard Development
Variance Analysis

Defining and Testing Optimisation Techniques in Models Using Excel

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

Updated on 18 April, 2019

Job roles this course is suitable for:

Budgeting and Forecasting , Budget Manager , Forecasting Analyst , Budget Analyst

Course Location

Show map Location Knowledge Village - Dubai

About 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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