The Complete Budgeting & Forecasting Bootcamp

Course overview

The process of collecting money and distributing it in accordance with the overall corporate strategy is known as financial planning. Therefore, the mission and vision statements of the organization serve as the foundation of the financial strategy. Without properly drafting a financial strategy, it is practically difficult for an organization to remain financially successful.

Lack of financial preparation is one of the reasons why some firms fail. The process of corporate financial planning inherently includes a budget. Therefore, it is imperative that every company, regardless of size, create an annual budget and evaluate it at least once every three months. Sales projections, related costs of sales, operational expenses, and a strategy for the year’s capital expenditures should all be included in the budget.

Financial reports provide a thorough understanding of the company’s financial situation. To grasp the present financial situation and make future plans, business owners, directors, and senior management must be able to go beyond the numbers in the financial report. Additionally, the CFO shouldn’t be the sole one responsible for creating the yearly budget.

Introduction

This duty must be shared by all departmental heads, who must also contribute their own ideas. The Directors must take ownership of the budget document since they must approve the company’s budgets as a result of the application of the code of governance.

The CEOs and other top executives of the firm will be equipped by this Trainee Bee course to comprehend the budget statements, evaluate the performance of the business, and make wise decisions going forward.   Understanding judicial use of the cash is the most important aspect of a budget.

The training will also give the required knowledge of various funding sources and how to use them in various sectors. This involves evaluating capital investments and having a solid grasp of the various working capital components.

We are The Training Bee, a global training and education firm providing services in many countries. We are specialized in capacity building and talent development solutions for individuals and organizations, with our highly customized programs and training sessions.

Learning Objectives

Upon completing The Complete Budgeting & Forecasting Boot camp, participants will be able to:

• Recognize the need of prudent budget preparation and money management
• Understand various financial resources and how they are used dependent on the cost of capital
• Make wise investment choices based on accurate evaluation.
• To assess the performance of the business, get an overview of the financial statements and management reports.
• Recognize the fundamentals of ratio, horizontal, and vertical analysis.

For high-level conversations, provide competition analyses, market trends, and associated justifications.

Our Unique Training Methodology

This interactive course comprises the following training methods:

• Role-playing – Participants will take part in several role-plays and understand practical ways of solving issues.
• Journaling – This consists of setting a timer and letting your thoughts flow, unedited and unscripted recording events, ideas, and thoughts over a while, related to the topic.
• Interactive sessions – The course will use informative lectures to introduce key concepts and theories related to the topic.
• Presentations – Participants will be presented with multimedia tools such as videos and graphics to enhance learning. These will be delivered engagingly and interactively.
• Group discussions – The course will incorporate group discussions and debates to encourage active participation and collaboration.
• Case studies – Participants will be presented with realistic scenarios and case studies that demonstrate effective strategies related to the topic. These activities will encourage participants to think critically and apply their knowledge to real-life situations.

Training Medium

This The Complete Budgeting & Forecasting Boot camp training is designed in a way that it can be delivered face-to-face and virtually.

Course Duration

This training is versatile in its delivery. The training can be delivered as a full-fledged 40-hour training program or a 15- hour’s crash course covering 5 hours of content each day over 3 days

Pre-course Assessment

Before you enroll in this course all we wanted to know is your exact mindset and your way of thinking.
For that, we have designed this questionnaire attached below.

• What experience do you have with financial budgeting?
• What knowledge do you have of financial forecasting?
• What is the purpose of budgeting and forecasting?
• How do you anticipate using the skills and knowledge gained from this course?
• What tools do you plan to use to help you with budgeting and forecasting?
• What challenges do you anticipate when budgeting and forecasting?

Course Modules

This The Complete Budgeting & Forecasting Boot camp covers the following topics for understanding the essentials of the Agile Workplace:

Module 1 – INTRODUCTION

• Comprehensive Strategic Plan
• Statement of Mission / Vision
• Minority vs. majority Liquidity vs. Profitability for Shareholders

Module 2 – THE MANAGEMENT OF BUDGETS

• Master Budget Creation: Fixed vs. Flexible Budgets
• Quarterly Evaluations
• The Future Planning
• Budget to Actual Ratio

Module 3 – FINANCIAL STATEMENTS

• Statement of Profit and Loss for the Balance Sheet
• Budget Assumptions Accompanying Notes Statement of Cash Flow

Module 4 – Resources for funding

• Ratios of Equity and Debt Financing
• The average cost of capital weighted across time
• Making decisions on dividend payments

Module 5 – CAPITALISATION OUTLAY

• Appraisal of Capital Investment
• Investment Return Payback Period Net Present Value
• Rate of Return Internal

Module 6 – CONTROL OF WORKING CAPITAL

• Accounts for inventory management Receivable Accounts Payable
• Compatibility of Sub-ledgers
• Current Liabilities and Other Current Assets

Module 7 – ACCOUNTING FOR COSTS

• Cost of Total Absorption
• Costing Marginal Contribution Break-even Analysis for Margin
• Critical Analysis

Module 8 – CONTRAST WITH REALITY

• Ratio Evaluation
• Vertical Stability Statement of Sheet and P&L
• Vertical balance sheet and profit and loss statement
• Analysis of Variances Price Variance
• Volume Variance

Post-course Assessment

Participants need to complete an assessment post-course completion so our mentors will get to know their understanding of the course. A mentor will also have interrogative conversations with participants and provide valuable feedback.

• How did you use the budgeting and forecasting tools to manage your resources?
• How did you track your budget and forecast performance?
• How did you develop strategies to control costs and improve profitability?
• What challenges did you face while developing accurate budget and forecast models?
• How did you identify and respond to potential risks in your budget and forecast?
• How did you use analytics to make decisions about budgeting and forecasting?

Lessons Learned

The most important lesson learned from the Advance Budgeting and Forecasting course is that budgeting and forecasting are both key elements of successful financial management. A successful budgeting and forecasting process requires an understanding of the organization’s goals, objectives, and strategies. Additionally, a thorough understanding of the business environment and the factors that affect the business is a must. Finally, having a clear plan of action and regularly monitoring results are essential elements of a successful budgeting and forecasting system.

“Advanced forecasting and budgeting may help you take charge of your money, and your wallet will appreciate it.”