Advanced Budgeting and Forecasting Training in Kuala Lumpur , Malaysia
Course Code : FBA120 - Course Address : Westin Kuala Lumpur Hotel - Course Fees : 4450 GBP
|City||Start Date||End Date||View|
|Kuala Lumpur , Malaysia||24 - 12 - 2023||28 - 12 - 2023||
|Kuala Lumpur , Malaysia||21 - 1 - 2024||25 - 1 - 2024||
|Kuala Lumpur , Malaysia||18 - 2 - 2024||22 - 2 - 2024||
|Kuala Lumpur , Malaysia||10 - 3 - 2024||14 - 3 - 2024||
|Kuala Lumpur , Malaysia||7 - 4 - 2024||11 - 4 - 2024||
This programme provides an overview of the tools and the skills to build world class standards into your planning, budgeting, performance measurement and reporting system and will discuss new and best practice techniques, explain how they complement the traditional financial planning tools, and introduce new concepts for measuring and reporting performance and shareholder wealth creation. Important elements of this programme include:
- Making your budgeting process more cost effectively
- Motivate managers to “buy in” to the budget process
- Many case studies and illustrations of real companies will be used to help delegates understand how to apply different planning, forecasting and analysis techniques
- Participants will also be given a detailed set of handouts that will enable them to review the topics covered at a later date
- Implement advanced planning and control techniques into your budgeting process
- Integrate the budgeting process with the development of the company’s long-term strategic vision
- Provide a decision support structure that provides timely and useful information to decision makers
- Successfully build an integrated planning, budgeting and reporting process
- Forecast costs and revenues with greater confidence
- Apply management tools to the budgeting process that contribute to strategic goals
- Effective manage the budgeting process
- Identify key performance indicators for effective and focused decision making
- Increase profitability and performance through stream lined planning and reporting
Budgets in Today’s International environment
- Organizational Planning and Control Framework
- The Product / Information / Decision Support Cycle
- Strategic, Tactical, and Operational Forecasts
- The recognition of risk in Models
- Using Budget Models for Simulation Purposes
- The Drive toward Shareholder Value (EVA®)
The Strategic Plan
- The purpose of planning and budgeting in business
- Defining the strategic approach to business planning
- Defining strategic assumptions
- Building the strategic planning model using financial data
- Various strategic and tactical approaches to business planning
- Defining the Decision-Support model: Assumptions/Goals and Key Success Factors
Analysing the Historical Data Using Excel®
- Recognizing the Basic Patterns Inherent in Historical Data
- Using the Exploratory Data Analysis Tools Available in Excel®
- Development of Time Series Models using histograms, moving averages, exponential smoothing and regression analysis
- Using Regression Analysis as a predictor and estimator
- Mastering the use of Exponential Smoothing as a Data Analysis tool
- Single Regression vs. Multiple Regression
- Validation of Time Series Analysis
Approaches to Budget Development
- Zero Base Budgeting
- Activity based Budgeting
- Rolling Budgets
- Operational Unit Budgeting
- Programme budgeting
- Developing the Cash Budget
Using Activity based Budgeting
- Developing the ABB application model
- Budgeting for Processes rather than Departments
- Defining Key Cost Drivers
- Defining Key Activities
- Development of ABB Cost Standards
- Developing the Activity-Based Budget
Strategic and Operational Cost Analysis Techniques
- Identifying fixed, variable and semi-variable costs
- Application of Regression in the development of budgets
- Building the financial simulation model using articulated financial statements
- Building the financial simulation model using deterministic simulation
- Building the financial simulation model using probabilistic (Monte Carlo) simulation
Developing Manufacturing Standards
- Material Standard Development
- Labour Standard Development
- Factory and Corporate Overhead Standard Development
- Variance Analysis
Defining and Testing Optimisation Techniques in Models Using Excel®
- Basic Structure of All Optimisation Models
- Different Forms and Applications of Optimization Models
- Developing a Financial Optimisation Model
- Performing Sensitivity Analysis of an Optimisation Model
- Interpreting the Solution of an Optimisation Model to a Non-technical Manager
- Lessons Learned and Lessons to be Learned
Where will the course be held?
The course will be held in Jalan Conlay. The exact address and directions will be provided to all enrolled participants prior to the start of the course.
What topics will be covered in the course?
The course will cover a range of topics related to the subject matter, including but not limited to the topics of outlines. By the end of the course, you'll have a solid understanding of the key concepts and techniques in the field, and be able to apply them to real-world situations. Detailed course outlines and learning objectives will be provided to all enrolled students prior to the start of the course.
What is the schedule for the course?
The course is expected to run for 3 hours daily. The exact schedule and timing will be confirmed and communicated to all enrolled students via email at least 2 days prior to the course start date.
What do I need to bring to the course?
All you need to bring is yourself, a notepad or laptop for taking notes, and a willingness to learn! We'll provide pens, paper, and any required textbooks or handouts.
What is the instructor's background and experience?
Our instructors are seasoned industry professionals with over 10 years of experience in the field. They hold a master's degree in the subject matter and have a proven track record of success working with trainees of all levels. You'll have plenty of opportunities to ask questions and get feedback throughout the course.
What are the T&C for this course?
Please visit our Terms and Conditions page
What kind of certificate will I receive upon completion of the course?
Upon completion of the course, you will receive an attendance certificate indicating that you have completed the course. This certificate is not accredited or recognised by any particular institution or organisation, but it can be used to demonstrate your commitment to continuing education and professional development.