Advanced Budgeting & Forecasting Techniques Using Excel®

Name: Advanced Budgeting & Forecasting Techniques Using Excel®
Price: 17000 AED
Availability: InStock

by Golden Masters for Training & Consultancy

This leading-edge program is builds on your basic finance and budgeting skills to empower you to tackle those key issues facing today's business executive. This program is for managers who understand the basic concepts of budgeting and finan

AED 17000

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Duration

5 days

Course Details

Course Description

If you are challenged with the responsibility decisions relating to profit enhancement, design and implementation of cost controls, and the evaluation of professional and technical personnel, this course is a must. Through the approaches and techniques presented in this powerful program,

Course Objective:

The objectives of the seminar are such that on completion, the delegates should be able to:

- Understand the relationship between planning, forecasting, & budgeting

- Use Excel© to develop various forecasting models

- Use Excel© to build various budget models

- Test forecasting & budgeting models using Excel©

- Use the forecasting/budgeting cycle to improve the budget accuracy

Course Certificate:

Masters Consultant certificate will be issued to all attendees completing minimum of 75% of the total tuition hours of the course.

Who Should attend:

This program is for management and technical professionals with direct financial responsibilities and need to understand leading-edge techniques to plan, analyze, and evaluate the effectiveness of the plan and those entrusted with its implementation.

Course Outline:

Budgets in Today's International Business Environment

- The Organizational Planning Framework

- The Product / Information / Decision Support Cycle

- The recognition of risk in models

- Using budget models for simulation purposes

- The drive toward Shareholder Value (EVA)

The Strategic Plan

- The purpose of planning and budgeting in business

- Defining the strategic approach to business planning

- Building the strategic planning model

- Defining strategic assumptions using the Eight Strategic Assumptions

- Various strategic and tactical approaches to business planning

- Defining the Decision-Support Model: The Mission Critical Success Factor Matrix

The Business Plan

- The Nature of the Business Plan

-Development of Tactical Assumptions: Identification of Drivers, Dominos, and Wildcards

-Defining the Tactical Approach to objective achievement

-Defining the resources required: Application of the Mission Critical Success Factor Matrix

Approaches to Budget Development

- Zero-Based Budgeting

- Rolling Budgets

- Cash Budgeting

- Activity-Based Budgeting

Analyzing the Applicability of Historical Data Using Excel

- Recognizing the basic patterns inherent in financial data

- Using the Exploratory Data Analysis tools available in Excel

- Development of Time Series Models

- Using Regression Analysis as a predictor and estimator

- Mastering Exponential Smoothing as an EDA tool

- Validation of Time Series Models

Using Activity-Based Budgeting

- Developing the ABB application model

- Budgeting for processes rather than departments

- Defining Cost Drivers

- Defining Key Activities

- Development of ABB Cost Standards

- Development of the ABB Model

The Budget Model

- Types of Business Models: Time Series v. Causal

- Qualitative v. Quantitative Models

- Designing Models that Support Business Strategy Horizons.

Steps in Building Financial Models

- The Nine-Step Model Development Framework

- The rules of strategic thinking

- Identification of Forecast Validation Criterion

- Determination of Model and Forecast Horizons

- Validation of Models and Forecasts

Optimization Techniques in Models Using Excel

- Basic Structure of All Optimization Models

- Different Forms and Applications of Optimization Models

- Developing a Financial Optimization Model

- Performing Sensitivity Analysis of an Optimization Model

- Interpreting the Solution of an Optimization Model to a Non-technical Manager.

Determination of Business Trends, Cycles and Seasonality

- Understanding the inter-relationship among trends, cycles and seasonality

- Use Excel?? to calculate ,business trends, business cycles and the seasonality factor

- Using the seasonality factor in forecasting

- Using the seasonality factor in interpreting the forecast variances

Sensitivity Analysis in Financial Models Using Excel

- Appreciate the Meaning and Importance of Sensitivity Analysis

- Developing "What-if" Scenarios in Your Financial or Operational Models

- Using the Excel tools "Scenario and Goal Seek"

Probabilistic Models and Monte Carlo Theory Using Excel Add-ons

- Addressing Risk Assessment in Financial Models

- Benefits of Using Probabilistic Modeling

- Demonstration of Probabilistic Modeling using Crystal Ball

Masters Training Company was established in response to the growing need for quality training to support the business community within your Company, Department or Organization by providing a high standard of Training Programs, Courses, Seminars, Workshops and Consultancy Services to employees in a very competitive business environment.

Following the latest trends and ideas in Technology and Management techniques, and with its in-depth knowledge of the business environment, Masters Training Company is able to meet the special requirements of both local and international business throughout the Middle East. Masters Training & Consulting is an independent multinational firm with more than 25 years of experience in helping regional organizations develop their human capital in all fields of management.

Since 1990, we have been entrusted by our clients to provide the most reliable training and consulting products and services in the region. Our innovative and diversified range of training programs and consulting services are designed and delivered by an ever-growing team of full time multilingual consultants experienced in providing solutions relevant to this part of the world and applicable to today’s business challenges.

We pride ourselves on our track record in this regard and on our long-standing relationships with our clients, many of whom have been with us since we started business.

Our public training programs have attracted more than 300,000 participants from almost 3,000 organizations many of whom also entrust us with their needs for bespoke in-company programs. Our client base is steadily growing and so is our commitment to remain the regional leaders in the fields of training and consulting.

Masters is also an approved vendor from KHDA & ILM

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Sheikh Zayed Road Branch

Kherbash Tower, Office # 1803 & 1804, Sheikh Zayed Road, Dubai

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