Budgeting and Forecasting Modelling
Course Background
This 2-day course is designed to develop and reinforce participants’ understanding and practical aspects of preparing budgets and forecasts in an organisation.
Core principles for budgeting;
Techniques for budgeting;
Drivers of costs and revenues
Behaviours within organisations which influence budget-setting, and management responses to budgets
Developing budgets into ongoing forecast updates
The principal aim of the course is to improve participants’ knowledge and ability to prepare budgets, and use these skills to support the budgeting process in their organisations.
Session 1 – Introduction & Course Objectives
Brief review of course objectives
Introduction of learning methods
Session 2 – Basics of Budgeting
Why do organisations prepare budgets?
Relationship between strategy and budgeting
Different types of budgets – P&L, capex, headcount, project, cashflow
Session 3 – Philosophies and Approaches to Budgeting
Top-down approach
Bottom-up approach
Reconciling the two results
Stretch targets – revenue & cost budgets
Projecting current performance
Zero-base budgeting
Use of contingency
Role of rewards and bonuses in target-setting
Revising unacceptable plan results
Exercise – prepare a simple budget from a number of different perspective, and discuss differences between the resulting plans.
Session 4 – Budget Drivers
Activity-based cost drivers
Volume changes: fixed vs. variable costs
Absorption of overheads into unit costs
Cost allocation techniques for indirect and corporate overheads
Revenue drivers: customer and market segmentation
Controllable and non-controllable factors
Exercise – for a given case study, identify drivers for a number of costs and create a budget for them.
Session 5 – Moving from Budget to Forecast
Dealing with the time lag between budget preparation and start of plan period
Splitting an annual budget down into months or quarters
Revising assumptions and drivers
Rolling forecasts in response to actual results
Exercise – for a given budget prepared 3 months previously, update in light of new assumptions and drivers
Session 6 – Actual Performance vs. Budget
Introduction to variance analysis
Impact of variances on remainder of plan period
Re-forecasting: changes to forecast and re-calendarising
Flexible budgets and target adjustments
Responding to poor results in forecasts
Exercise – for a given budget and actual results, prepare asimple variance analysis and suggest how each variance might
impact the remainder of the budget period
Session 7 – Budgeting Behaviours
Target-setting
Incentives, rewards and bonuses
Dysfunctional behavior
Exercise – for a given budget and bonus scheme, analysepotential dysfunctional behavior and how this might be mitigated.
Session 8 – Wrap-Up and Questions
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Kami memberikan alternatif Fasilitas atas Investasi anda dalam Program ini, diantaranya :
- Sertifikat, Peralatan Training, USB, Souvenir, Lunch, Coffe Break, City Tour
- Running minimal 2 Orang (Semarang, Jogja, Solo), Running minimal 3 Orang (Bandung, Jakarta), Running 4 Orang diperuntukan untuk daerah (Bali, Lombok, Manado, Balikpapan)
- Kami menyediakan transportasi antar Jemput dari Stasiun/Bandara ke Tempat Pelatihan(Hotel) bagi perusahaan yang Running minim 2 Orang
- Harga dilampirkan di Brosur Penawaran
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Tambahan Informasi :
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