Budgeting & Forecasting in Excel

Date: Thursday, 5 August, 2010 - 09:00 - Friday, 6 August, 2010 - 17:00

Location: Hong Kong

Duration: 2 days

Day One: Budgeting and Forecasting Theory

Budgets and Strategic Planning

• Linking Budgets to business objectives
• Budgeting to achieve organisational objectives
• How to turn measurement into management

Using Budgets as Performance Management

• The impact of budgets on organisational performance
• Successfully integrating forecasting and budgeting as essential tools for measuring performance
• Translating the organisation's values into measures and targets

Reporting

• Using reporting to promote accountability
• Variance analysis
• Budgeting and forecasting as a planning and management tool
• Assessment and selection of appropriate systems

Budgeting Techniques

• Historical-based versus Zero-based budgeting
• Top down vs bottom up
• Activity Based Budgeting
• Differences between a static, flexible and rolling budget
• Budgeting for capital expenditure vs. operational expenditure

Limitations of budgets

• Estimations and rigidity
• Staff perceptions and changing environments
• Dysfunctional budgeting behaviour

Budgeting "Soft" Skills

• Achieving buy-in from stakeholders
• Involving non-financial management of the organisation
• Techniques in getting your budget approved
• Managing conflicting priorities and demands
• Setting timelines

Day Two: Budget and Forecast Modelling

Building a Budget

• Revenue calculation
• Headcount and other staffing costs
• Operational expenses
• Capital expenditure

Building a Forecast

• Incorporating budgets, actuals and forecast
• Creating a "rolling" forecast with live data

Reporting

• Creating an actual vs budget vs forecast report
• Building a variance analysis with "alert flags"

Scenarios

• Stress-testing, break-even and sensitivity analysis
• Creating and displaying budget scenarios

Contact info@plumsolutions.com.au for bookings and logistics information