This one day workshop provides both insights into the business planning and Forecasting process.

Introduction

Creating an effective budget can be a daunting task. It is more than crunching a bunch of numbers and presenting them to management for approval. Without a budget, the business owner is literally shooting in the dark. Businesses need a plan in order to make effective decisions and coordinate the decisions and actions of various departments within the organization and it often requires the role of accounting and finance to interact with various departments of the organization to build the budget and forecast.

This one day workshop provides insights into business planning and forecasting necessary for effective financial planning and budgeting.

Course Details:

 

Objectives

• Appreciate the strategic planning process and how these are translated into financial plans and budgets.

• Understand the basic principles of budget preparation and control and importance in planning and monitoring.

• Able to build various budgets forecast +/- 10% accuracy.

• Understanding the importance of ownership in the budget process.

• Appreciate why budget fails and learn best practices in budgeting.

• Risks of budget and forecast - pitfalls to watch for plan and forecast.

• Be able to communicate with management and finance function more effectively and confidently.

Outline

1. Business Planning framework

  • Planning rationale and concepts
  • Strategic Planning Process - Relationship between Business plans, Financial plans, Marketing plans, Operations plans, Management plan and Budget. Set budget goals and objectives. Understand the role, importance, challenges and limitation of budget.
  • Difference between a budget and forecast
  • 6 Principles of planning and forecasting
  • Planning and Forecasting methodology depending on the maturity organization
  • Fragmental Functionally Focused Vs Integrated Cross Functional

2. Building a plan based on:

  • Analysis of internal and external environment
  • Budget Assumptions - Analyse and Challenge
  • Discussions and sharing
  • How to build sales budget
  • How to build Cost of sales budget and Margins
  • How to build Expenses budget
  • How to build a capital budget
  • How to build Plan or forecast P& L and Cash flow budget
  • Parameters of a acceptable budget or plan

    • 3. Monitor performance and perform variance analysis

    4. Case Studies (Based on real cases)

  • A) Top management expectation Vs ground inputs (Why budget and forecast fail - Top 10 questions
  • B) What is a realistic budget?

Who should attend

• Wide range of professionals especially those with direct or indirect budget responsibilities within a team a department or a division.

• Professionals from every business disciple and department whom need to run budgetary plans and are responsible for cost and strategic analysis.

• Finance and non-finance managers and professionals who wish to improve on their planning controlling and decision making abilities.

 

Methodology

• Presentation Understanding Concepts, Theory Vs practical world
• Practical sharing
• Scenario analysis
• Case studies
• Discussion
• Leverage Group learning to expand own learning

 

Benefits of Attending This Course

• How to make budgeting or forecasting a valuable tool for driving the business future and achieving management goals.

 

What questions this training programme provides answers to:

• How to sell a acceptable budget to top management

• How other companies are doing forecast and budget

• Learn the level of budget and Forecasting maturity organisation

• How to monitor budget and forecast Vs actual?

• Able to detect pitfalls in plan and budget and make it a continuous learning process

Trainer

Lynda How has over 25 years of experiences as Regional Chief Financial Officer (CFO) in Asia Pacific with top fortune companies in I.T. / Service / Consumer and Commercial Electronics.

Lynda has managed credit and collection in Philips, Nike, Samsung, Lenovo and NCR. She has vast credit experiences managing credit in emerging countries like Russia, Vietnam, Myanmar and India, including matured countries like Singapore, Hong Kong, Europe and Japan.

Lynda graduated from National University of Singapore in 1991 and has been a certified public accountant with ISCA since 1998.

Administrative Details:

Scheduled Date

• Date to be advised  (1st Run)

Cost

• S$ 450 per participant

• S$ 400 per participant for 2 participants from the same organisation

• S$ 350 per participant for 3 or more participants from the same organisation

Duration

• 9 am - 5 pm

Refreshments

• Coffee & tea with snacks during the morning and afternoon breaks

• Buffet lunch with vegetarian & halal options

 

Certification

A Certificate of Attendance will be awarded at the end of the workshop.

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