BUDGETING, FORECASTING AND PLANNING PROCESS
DURATION: 2 Days
CLASSROOM FEE: ₦105,000/Participant
ONLINE FEE: ₦95,000/Participant
VENUE: Human Capital Training Centre
SYNOPSIS: Do you know the cost related with every area you oversee? Do you fully understand the financial impact of your economic decisions? Are you conversant with 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. Analyze variances etc.
Fundamentals of Budgeting
- Definition of budget
- Concepts of budgeting
- Preparation of budget
- Human factors in budget
- Budgetary control and feedback
- Setting monthly targets
- Knowing your company’s strategy
- Identifying the sources of value creation
- Budget Variance analysis
Translating managerial decisions into Naira
- Understanding how to revise your budget
- Associating your forecast with the company strategy
- Gaining proficiency /expertise in budgeting
- Identifying various costs associated with your work
- Determining how to calculate costs
- Knowing how to manage cost by department, product, and function etc.
- Working Capital Management
- Meaning of forecasting
- Basic statistical techniques and methods
- Compare forecasting with budgeting
- Limitation of forecasting
FOR WHOM: Accountants, Auditors, Cost Accountants, Admin Managers, Planning Managers, Finance managers, Financial Analysts and others who perform related functions in both public and private.