Training Course on Advanced Budgeting and Forecasting

Course Description

Financial planning is the process of raising funds and allocating these funds based on the overall business strategy. It is almost impossible for an organization to be financially viable without preparing a proper financial plan. Budgeting is an inherent part of the corporate financial planning process. It is therefore crucial that every business, irrespective of its size, must prepare an annual budget and review it at least every quarter. The Budget should include, inter alia, sales forecast, associated cost of sales, operating overheads, and capital expenditure plan for the year.

Financial reports give a deep insight into the financial health of the company. Business owners, directors, and the top management must have the ability to go behind the figures mentioned in the financial report so as to understand the current financial health and plan for the future. All departmental heads must share responsibility in budgeting and provide their own inputs. With the implementation of the code of governance, the Directors are required to approve the companys budgets and therefore must take ownership of the budget document.

This Phoenix Center for Policy, Research and Training course will empower the Directors, both executive and non-executive, CEOs, and other senior executives of the organization to understand the budget statements, measure the companys performance, and make sound decisions for the future.   The most critical part of a budget is to understand judicial utilization of the funds. The course will also provide the necessary understanding of different sources of funds and where to deploy these funds in various departments. This includes Capital Investments appraisal and an understanding of various components of Working Capital.

Course Objectives

Upon the successful completion of this Training Course on Advanced Budgeting and Forecasting, participants will be able to:

• Appreciate the importance of effective budget preparation and financial planning
• Understand various sources of finance with their utilization, based on the cost of capital
• Take sound investment decisions based on proper appraisal
• Obtain an overview of the financial statements and management reports to evaluate the companys performance
• Prepare competitor analysis, market trends, and related explanations for top-level discussions
• Understand cost behaviour and its effect on financial planning
• Understand various types of budgets and use the one most suited to the organization
• Use financial modeling to forecast the profitability and cash flows with sensible assumptions
• Understand the different components of working capital and reduce the operating cycle
• Understand the best practice of financial planning and management

Training Methodology

The course is designed to be highly interactive, challenging and stimulating. It will be an instructor led training and will be delivered using a blended learning approach comprising of presentations, discussions, guided sessions of practical exercise, case study review, web-based tutorials, group work and exploration of relevant issues. Our facilitators are seasoned industry professionals with years of expertise in their chosen fields. Experiential knowledge is also given equal importance within the format of training. All facilitation and course materials will be offered in English.

Who Should Attend?

This Training Course on Advanced Budgeting and Forecasting would be suitable for, but not limited to Members of the Board of Directors, External and Internal Auditors, CFOs, and COOs, Members of the Audit Committees of the Board, Senior Executives, Members of Management Committees and Shareholders and business owners eager to learn the fundamentals of financial planning

Course Content

Module 1: Introduction

• Overall Strategic Plan
• Mission / Vision Statement
• Majority/ Minority Shareholders
• Profitability v/s Liquidity

Module 2: Budget Process and Management

• Preparation of Master Budget
• Fixed v/s Flexible Budgets
• Quarterly Reviews
• Forward Planning
• Budget/ Actual Comparison
• Zero Based Budgets

Module 3: Budget Statements

• Balance Sheet
• Profit & Loss Statement
• Statement of Cash Flow
• Budget Assumptions
• Accompanying Notes

Module 4: Sources of Finance

• Equity and Debt Financing
• Gearing Ratios
• Cost of Capital
• Weighted Average Cost of Capital
• Decisions regarding Dividend Payments

Module 5: Capital Expenditure

• Capital Investment Appraisal
• Return on Investment
• Payback Period
• Net Present Value
• Internal Rate of Return
• Lease or Buy Decisions
• Tax Implications thereof

Module 6: Working Capital Control

• Inventory Control
• Accounts Receivable
• Accounts Payable
• Reconciliation of Sub-ledgers
• Other Current Assets & Current Liabilities
• Tax and Deferred Taxation

Module 7: Cost Accounting

• Total Absorption Costing
• Marginal Costing
• Contribution Margin
• Break-even Analysis
• Sensitivity Analysis

Module 8: Comparison With Actuals

• Ratio Analysis
• Vertical Balance Sheet & P&L Statement
• Horizontal Balance Sheet & P&L Statement
• Variance Analysis
• Price Variance
• Quantity Variance
• Mix Variance

Requirements

• Participants should be reasonably proficient in English.
• Applicants must live up to Phoenix Center for Policy, Research and Training admission criteria.

NOTE

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free
2. What is catered for by the Course Fees: Fees cater for all requirements for the training Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.
3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.
4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.
5. Approval of Course: Our Programs are NITA Participating organizations can therefore claim reimbursement on fees paid in accordance with NITARules.

How to Book: Simply send an email to the Training Officer on training@phoenixtrainingcenter.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254737566961

Payment Options: We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1. Groups of 5 People and Above Cheque Payments to: Phoenix Center for Policy, Research and Training Limited should be paid in advance, 5 days to the training.
2. Invoice: We can send a bill directly to you or your company.
3. Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.
2. Participants may cancel attendance 14 days or more prior to the training commencement date.
3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor Made Courses

This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location.

For further inquiries, please contact us on Tel: +254720272325 / +254737566961 or Email training@phoenixtrainingcenter.com  

Accommodation: Accommodation is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@phoenixtrainingcenter.com or on Tel: +254720272325 / +254737566961