Certificate in Finance and Accounting Courses


Budgeting, Forecasting, and Planning Process

Introduction:

A good plan should start with a good forecast, which can lead to a good budget. The strategy is a long-term plan of what the company will do to achieve its policy. A budget is a short-term plan for how the strategies will be achieved. It is an estimate of the activities that the company has to develop to achieve its short-term plans.

This budgeting, forecasting, and planning process course delves into financial planning, budgeting, and forecasting to highlight their interdependencies and equip participants with the necessary skills to execute each part effectively.

Understanding Financial Planning, Budgeting, and Forecasting:

Financial planning, budgeting, and forecasting are pivotal components in the steering of any organization toward its financial goals. This course aims to clarify the planning, budgeting, and forecasting process, articulate the nuances between each term, and ensure that participants can leverage various planning, budgeting, and forecasting tools to achieve organizational success.

Targeted Groups:

  • Financial accounting team members.
  • Cost accounting and management personnel.
  • Finance professionals.
  • Planning managers.
  • Members of the Capital Investments and Projects team.

Course Objectives:

By the end of this budgeting, forecasting, and planning process course, participants will be able to:

  • Understand the planning and budgeting process and apply it effectively.
  • Predict cash flows accurately and use statistical tools for forecasting, planning, and budgeting techniques.
  • Calculate the cost of capital and apply financial models to evaluate investments.
  • Use scenario analysis to plan for various circumstances.
  • Effectively analyze financial data and apply advanced Excel.
  • Create and monitor an effective budget using Budget Control.
  • Grasp what is comprehensively planning, budgeting, and forecasting.
  • Understand cost systems and their application to various activities.
  • Optimize cost systems using activity-based costing.
  • Design an ABC system and understand its advantages and disadvantages.
  • Implement performance evaluation using the Balanced Scorecard.

Targeted Competencies:

Upon the end of this budgeting, forecasting, and planning process training, participants competencies will:

  • Planning for success.
  • Prediction process.
  • Budget process.
  • Balancing control.
  • Anticipating expenses.
  • Activity-Based Business Costing (ABC).
  • Activity-Based Budgeting (ABB).

Course Content:

Unit 1: Planning for Success:

  • What are planning strategies?
  • Work with cycle planning.
  • Strategic analysis and strategic choice.
  • Strategy implementation.
  • Corporate goals alongside corporate and shareholder value.
  • Addressing agency problems and corporate governance.
  • Planning and working capital requirements.
  • Financial planning for growth and making a financial model.
  • Developing Key Performance Indicators (KPIs).
  • Introduction to the Balanced Scorecard (BSC).

Unit 2: The Forecasting Process:

  • Determining the forecast purpose and objective.
  • Data analysis using appropriate statistical analysis tools.
  • Quantitative analysis and forecasting practices.
  • Forecasting techniques involving univariate analysis models: time series moving averages housing smoothing trend development.
  • Causal Analysis Models - Regression Analysis.

Unit 3: The Budget Process:

  • Understanding the need for a budget and its objectives.
  • Planning and Control interplay.
  • Creating a budget for sales and costs.
  • The budget process stages.
  • Comprehensive budgeting and the preparation process.
  • Monitoring workforce numbers and labor costs in the budget.
  • Considering depreciation in the budget.
  • Finalizing the budgeting cycle.

Unit 4: Balancing Control:

  • Standard cost.
  • Standard cost and targets.
  • Utilization of flexible budgets.
  • Variance analysis and reasons for differences.
  • Planning and managing variances effectively.

Unit 5: Expense Forecasting - Activity-Based Costing (ABC) and Activity-Based Budgeting (ABB):

  • The cause-and-effect relationship between activities and costs.
  • Operations and activities.
  • Explore under- and over-costing until cost transference among products is achieved.
  • The intricacies of Activity-Based Costing (ABC).
  • Optimizing cost systems with ABC.
  • ABC and its role in cost management.
  • Designing ABC systems.
  • Cost hierarchy and pricing factors.
  • Weighing the advantages and disadvantages of ABC systems.
  • The shift from traditional budgeting to Activity-Based Budgeting (ABB).
  • The ABB process.
  • Consider incentives and behavior in budgeting.

Barcelona (Spain)
11 - 15 Nov 2024
5300 Euro
Cairo (Egypt)
08 - 12 Dec 2024
3500 Euro
Sharm El-Sheikh (Egypt)
08 - 12 Dec 2024
4500 Euro
Istanbul (Turkey)
22 - 26 Dec 2024
4900 Euro
Paris (France)
23 - 27 Dec 2024
5300 Euro
Amman (Jordan)
05 - 09 Jan 2025
3200 Euro
Lisbon (Portugal)
06 - 10 Jan 2025
5300 Euro
Kuala Lumpur (Malaysia)
12 - 16 Jan 2025
4400 Euro
Online
02 - 06 Feb 2025
1900 Euro
Manama (Bahrain)
23 - 27 Feb 2025
4500 Euro
London (UK)
24 - 28 Feb 2025
5500 Euro
Madrid (Spain)
24 - 28 Feb 2025
5300 Euro
Dubai (UAE)
02 - 06 Mar 2025
4400 Euro
Amsterdam (Netherlands)
10 - 14 Mar 2025
5300 Euro
Online
16 - 20 Mar 2025
1900 Euro
Vienna (Austria)
17 - 21 Mar 2025
5500 Euro
Kuala Lumpur (Malaysia)
06 - 10 Apr 2025
4400 Euro
Rome (Italy)
14 - 18 Apr 2025
5900 Euro
Istanbul (Turkey)
20 - 24 Apr 2025
4900 Euro
Dubai (UAE)
04 - 08 May 2025
4400 Euro
Barcelona (Spain)
19 - 23 May 2025
5300 Euro
Amsterdam (Netherlands)
09 - 13 Jun 2025
5300 Euro
Vienna (Austria)
09 - 13 Jun 2025
5500 Euro
London (UK)
16 - 20 Jun 2025
5500 Euro
Cairo (Egypt)
13 - 17 Jul 2025
3500 Euro
Madrid (Spain)
14 - 18 Jul 2025
5300 Euro
Manama (Bahrain)
20 - 24 Jul 2025
4500 Euro
Sharm El-Sheikh (Egypt)
27 - 31 Jul 2025
4500 Euro
London (UK)
28 Jul - 01 Aug 2025
5500 Euro
Rome (Italy)
28 Jul - 01 Aug 2025
5900 Euro
Paris (France)
04 - 08 Aug 2025
5300 Euro
Cairo (Egypt)
10 - 14 Aug 2025
3500 Euro
Online
10 - 14 Aug 2025
1900 Euro
Milan (Italy)
11 - 15 Aug 2025
5900 Euro
Amman (Jordan)
24 - 28 Aug 2025
3200 Euro
Munich (Germany)
25 - 29 Aug 2025
5300 Euro
Dubai (UAE)
31 Aug - 04 Sep 2025
4400 Euro
Barcelona (Spain)
01 - 05 Sep 2025
5300 Euro
Kuala Lumpur (Malaysia)
28 Sep - 02 Oct 2025
4400 Euro
Geneva (Switzerland)
13 - 17 Oct 2025
6500 Euro

Certificate in Finance and Accounting Courses
Budgeting, Forecasting, and Planning Process (FA)

 

Mercury dynamic schedule is constantly reviewed and updated to ensure that every category is being addressed at least once a month, if not once every week. Please check the training courses listed below and if you do not find the subject you are interested in, email us or give us a call and we will do our best to assist.