- TypeTraining or Development Class
- Location Devimpact Institute, Nairobi, Kenya
- Date 26-06-2023 - 30-06-2023
Education/Teaching/Training/Development
Finance
Accounting/Financial/Banking/Insurance
About the Course
Planning, budgeting and forecasting is a three-step strategic planning process that identifies and details an organization's long- and short-term financial objectives. The finance department of an organization typically oversees the procedure. Planning outlines the company's financial direction and creates a model of expectations. Budgeting documents how the overall plan will be executed month to month and typically includes estimates of revenue and expenses and expected cash flow and debt reduction while forecasting uses accumulated historical data and market conditions to predict financial outcomes for future months or years. This training program equips participants with the knowledge and abilities needed to create top-notch strategic planning, forecasting, and budgeting procedures.
Target Participants
This course is ideal for a wide variety of professionals, particularly those with direct or indirect budgetary responsibility within a team, department, or division. The training program is also ideal for managers and individuals who handle budgetary, operational and strategic plans.
Course Duration
Online
7 Days
Classroom-based
5 Days
What You Will Learn
By the end of this course the participants will be able to:
Enhance their strategic thinking skills and participation in the integration of the organization's strategic management and budgeting procedures.
Utilize forecasting methods that are most suitable for the organization's strategic planning and budgeting
Recognize how costs behave and pinpoint the costing techniques that can be utilized for financial planning, budgeting, and budgetary control.
Utilize best practices when creating operating, capital, and cash flow budgets and forecasts in accordance with the strategic goals of the organization.
Course Outline
Strategic Management and Financial Planning
Organizational planning framework
Strategic, tactical and operational forecasts
The strategic approach to business planning
Various strategic and tactical approaches to business planning
The Links between strategy, forecasting, planning, budgeting, performance measurement
Capital structure optimization models
Budget Framework and Budget Development Process
Common budgeting approaches/models
Process flow of an organization
Budgeting in small/large companies
Top down vs. bottom-up involvement
Sources of information
Revenue and cost drivers
Relationship between activities, resources, costs, and cost drivers
Building the budget
Financial Forecasting
Introduction to financial forecasting
Importance of financial forecasting
Types of financial forecasting
Steps in financial forecasting
Financial forecasting techniques
Risk Analysis
Types of financial risks
Financial risk assessment
Financial risk management strategies
Cost Analysis Techniques
Cost behavior and activities
Fixed and variable costs, direct and indirect costs
Product costs and period costs
Cost allocation and absorption of overheads
Absorption or full costing
Marginal costing
Cost-volume-profit (CVP) and ‘what-if’ analysis using Excel
Activity based costing (ABC) and Activity based management (ABM)
Financial Appraisal and Capital Budgeting
The time value of money
Future values
Present values
Discounted cash flow
Capital investment and project appraisal Techniques
Capital rationing
Capital budgeting and the profitability index
Performance Management
Monitoring against key performance indicators
Performance reporting
Perform variance analysis
Action planning
Training Approach
This course is delivered by our seasoned trainers who have vast experience as expert professionals in their respective fields of practice. The course is taught through a mix of practical activities, presentations, group works and case studies.
Training manuals and additional reference materials are provided to the participants.
Certification
Upon successful completion of this course, participants will be issued a certificate.
Tailor-Made Course
We can also do this as a tailor-made course to meet organization-wide training needs. A training needs assessment will be done on the training participants to collect data on the existing skills,knowledge gaps, training expectations and tailor-made needs.