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Why Attend

WHY ATTEND?

Designing Budgets and Controls for Strategy Execution Workshop’ is the second level course in budgeting after our ‘Effective Budgeting and Cost Control’ course. It goes beyond the theory of budgeting as a concept to cover specific steps to make the budget a value-added process in the organization. By building user-friendly models and applying scenario analysis, management will spend less time gathering data and more time analyzing this data for decision making. Several Microsoft Excel tools are used throughout this course to make it practical and to provide participants with the skills needed to apply these tools in their organization immediately. Such tools include ‘what-if’ analysis and the ‘solver’, among many others.

The course also highlights some of the main forecasting models and the detailed evaluation of capital budgeting techniques, all of which are applied in Microsoft Excel and put into practice.

Event Date: 21/02/2024 – 23/02/2024

Request an In-House Proposal

Download 2024 Training Calendar

More Dates

29/08/2024 – 31/08/2024	Price: $ 195.53
24/10/2024 – 26/10/2024	Price: $ 195.53

Overview
Course Outline

Course Methodology

The course is a hands-on application on how to use MS Excel in budgeting and forecasting. Participants will be involved in exercises, individual and group presentations, and will work on several case studies.

Course Objectives

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

Evaluate the budgeting process in their organizations and recommend improvements
Create budget templates and models for their departments or organizations
Apply several forecasting techniques to better manage uncertainties in budgeting
Evaluate capital budgeting decisions using several methods and recommend proper action
Utilize Microsoft Excel functions and tools in the budgeting process including breakeven analysis and optimization

Target Audience

Finance directors, managers, controllers, accountants, budget analysts, budget owners and professionals who wish to expand their budgeting knowledge.

Target Competencies

Budgeting
Building models in Microsoft Excel
Forecasting
Evaluating proposals
Applying Microsoft Excel functions and tools
Assessing budgeting process

Course Outline

Budgeting and planning
- The budget and the functions of management
- Budget as a planning tool
- Budgets and the key financial statements
- The top-down versus bottom-up process
Budget cycle, process and approaches
- The budget cycle
- Characteristics of successful budgeting
- Making the budget a value-adding activity
- Top ten problems with budgeting
- Choosing the proper budgeting approach:
  - Incremental budgeting
  - Zero-based budgeting
  - Flexible budgeting
  - Kaizen budgeting
  - Activity based budgeting
  - Rolling (continuous) budgets and forecasts
- The master budget and its components
- Operating and capital budgets
- Best practices in budgeting
- Creating a user friendly budget template
Forecasting techniques
- Forecasting models
- Qualitative and quantitative methods
- Steps in developing forecasting models
- Time series and trend analysis
- Data conditioning techniques
- Exponential smoothing and moving averages
- Simple and multiple regression analysis

Advanced capital budgeting evaluation techniques
- Business risk and cost of capital
- Classifying investment projects
- Cash flow estimation
- Analyzing investment and operating cash flows
- The time value of money concept
- The required rate of return
- Net Present Value (NPV)
- Internal Rate of Return (IRR)
- Multiple internal rates of return
- Modified Internal Rate of Return (MIRR)
- Profitability Index (PI)
- Payback period and discounted payback period
- Capital rationing
- Comparing and evaluating techniques
- Sensitivity and risk analysis
Breakeven analysis and optimization techniques
- Cost Volume Profit (CVP) analysis
- Using CVP to reach a target income
- Single product and multiple products breakeven analysis
- Working with budget constraints
- Building optimization models

Duration: 2 days

Class Session : 10:00am – 4:00pm each day including Breakfast and Lunch time

Customize Your Training

This training is currently available as residential/in-house option. If you prefer us to customize or have this training in-house at your location, kindly send your request via e-mail to:training@mctimothyassociates.com

Please Note

Mctimothy Associates Reserves the right to postpone or cancel a course due to unforeseen circumstances beyond our control. In such cases delegate(s) will be registered for the next run of the Course.