A good plan should begin with a good forecast, which in turn, may lead to a good budget. A strategy is a long-term plan of what the company is going to do to achieve its policy. The budget is the short-term plan of how strategies may be achieved. It is a quantification of the activities the company must develop to achieve its short-term plans.
At the end of this conference the participants will be able to:
Develop strategic thinking, and use the strategic management process to develop missions and objectives and carry out strategic analysis and decision-making.
Understand the relationship between financial planning, forecasting, and budgeting, and integration of the strategic management process with the budgeting cycle.
Understand cost behavior, the use of alternative costing systems, and cost/volume/profit (CVP) analysis, and develop and prepare an operating budget and how it may be funded using the alternative sources of finance.
Use various Excel models to forecast sales pricing, optimal product mix, long- and short-term sales levels, and build financial growth planning models and traditional and activity-based budget models, and improve budget accuracy.
Use the techniques of budgetary control: development of product standards, flexed budgets, and variance analysis, and use of the results of variance analysis to improve operational performance.
Determine a company’s cost of capital and use the technique of discounted cash flow (DCF) for capital budgeting and evaluation of capital project investment, and risk analysis using the techniques of sensitivity, simulation, and scenario analysis.
Financial Professionals, Finance Controllers, Treasurers, and Inventory Professionals
Senior Professionals with direct responsibility for financial management and control
Accountants, Sales and Purchasing Professionals, and those responsible for the relationship with banks
Any Professional, at junior or senior level, who is a part of the financial decision- building a team
New Interns and Trainees with finance-related responsibilities
Head of Departments, Process Owners, Administrative Personnel associated with budget management
What are planning strategies?
Work with the planning cycle
Mission
Strategic analysis
Strategic choice
Strategic implementation
Corporate objectives
Corporate value and shareholder value
The agency problem and corporate governance
Planning requirements and working capital
Plan outline
Financial planning for growth
Financial modeling
Development of the key performance indicators (KPIs)
The balanced scorecard
Determine the purpose and objective of the forecast
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