Budgeting, Forecasting and the Planning Process

Do you know the costs associated with every area you oversee? Do you fully understand the financial impact of your decisions? Are you familiar with the ins and outs of forecasting and budgeting?

In this course, you will discover how to quantify the results of your work. Determine whether the profit earned is higher than the costs of site space, machines, inventory, customer credit, etc. and measure the value you create.

CONTENT

Analyzing costs

· Identifying the various costs associated with your work

· Determining how to calculate costs

· Knowing how to manage costs by departments

Evaluating your performance

· Setting monthly targets

· Knowing your company’s strategy

· Identifying the sources of value creation

Translating managerial decisions into Naira

· Associating your forecasts with the company strategy

· Gaining proficiency in budgeting

· Knowing how to revise your budget

Forecasting

· Basic statistical techniques

· Forecasting techniques and methods

· Forecasting performance measurements

· Simple and multivariate linear regression

· New directions in financial forecasting

FOR WHOM: Accountants, Auditors, Financial Controllers, Admin Managers, Planning Managers, Finance Managers and Financial Analysts, CFOs and others who perform related functions in both public and private sectors.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.