BUDGETING, FORECASTING, AND FINANCIAL ANALYSIS

OVERVIEW

The course is designed for finance and non-finance professionals who needs to prepare a budget or needs to participate in the preparation of the budget but do not have the proper training to do so. This one day course will provide the necessary concepts and practical applications of understanding the budgeting process and budget preparation; learn how to do advance forecasting of revenue and its impact on the financial statement; and learn how to properly manage a budget through a series of lectures, hands-on exercises, and group discussions.

LEARNING OBJECTIVE

By successfully completing this course, participants will be able to:

  1. Identify the objectives of budgeting
  2. Understand the function and composition of the budget committee
  3. Diagram the relationship between operating and financial budgets, using the flexible budget model
  4. Describe the different models of budgeting
  5. Relate the budgeting standards-setting, planning and controlling functions of management
  6. Understand why organizations prepare a budget as well as the process being used to create budgets.
  7. Plan more effectively for the future.
  8. Use the financial techniques of planning and control
  9. Improve performance from the use of the tools of financial analysis
  10. Master the skills of budgetary and cost control

LEARNER’S BENEFIT

  1. Learners will be more confident in preparing their own function’s/department’s budget
  2. Learners will gain more understanding of the effect of their organization’s strategies to financial projections and capacity
  3. Learners will have the ability to identify potential problems and its impact to the organization
  4. Enables learners to determine the possible sources of financing when needed
  5. Helps learners to decide in advance how available money will be spent or how excess cash will be invested

TARGET AUDIENCE

  1. Finance, Accounting, Treasury Managers
  2. Sales, Marketing, Product, Operations Managers
  3. HR, Admin, IT Project Managers, Customer Service Managers
  4. Entrepreneurs, Business Owners, Start-ups
  5. Investors

LEARNING OUTLINE

A. Budgeting Made Easy

  1. Advantages of good budgeting
  2. The need for budgeting and what to expect when there’s none
  3. Understanding the organization’s budgeting strategy
  4. Effective budgeting
  5. Common mistakes in budgeting
  6. Concepts and Terminologies

B. Pre-Budgeting Process

  1. Let’s take a look at the costs: fixed, variable and mixed, direct and indirect, controllable and uncontrollable
  2. Gathering budgeting information
  3. Historical and forecasted financial ratios
  4. Self-check before budgeting begins

C. Preparing the Master Budget

  1. Forecasting revenue
  2. The production schedule and related costs
  3. Best practices in budgeting administrative expenses
  4. Capital expenditures
  5. Collection and payment: timing and strategies
  6. Cash flow and cash budget

D. From Budget to Financial Statements

  1. Income Statement
  2. Statement of Financial Position (Balance Sheet)

E. Budget Monitoring

  1. Dealing with differences between budget and actual numbers
  2. Budgeting review and adjustments

OUR PARTNER’S PROFILE

  • Certified Public Accountant (CPA), PRC
  • MBA with high distinction award, PSBA
  • Accounting Services Consultant for companies in the Agricultural, Distribution, Retail, Construction, Electrical, Business Process Outsource, Information Technology, and Software Development Industries
  • Accounting Professor, PSBA
  • Former Accounting Services Head of Easy Bio Systems (Phils.)
  • Former Accounting Professor of National University, Treston International College

UPCOMING PUBLIC TRAINING SCHEDULE

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For inquiries on registration, course content, course customization, and on-site training, please click here.