Budgeting and Forecasting Skills (BFS)
مهارة إعداد الموازنات والتنبؤات المالية
This training explains financial terms and budgeting tools in a way that a non-financial professional will understand and relate to, in their own line of work. The trainer will also use “real life” examples and case studies and encourage participants to work in small groups, whilst enjoying the subject!
Trainees will be exposed to a deeper understanding of the budgeting process, its challenges, common issues, and approaches to mitigate the problems and improve the learning curve of budget planning. It is integrative by emphasizing the transition between the corporate strategy and the budget.
Budgeting is simply balancing expenses with income. If they don’t balance and spending exceeds income, then business is not making revenue. Many people don’t realize that they spend more than they earn and slowly sink deeper into debt every year.
Financial managers, CEOs, procurement officers, Fundraisers, and others who are relevant to finance.
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- Type: Classroom/Hybrid/Online/On-Client Premise
- Duration: 18 Hours
- Language: English and Arabic
Objectives:
The training aims to achieve the following objectives:
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Topics:
- Budget and business plan
- Budget and forecast
- Budget and the business strategy
- Budgeting process
- The planning cycles
- Potential problems
- Developing budgets
- From operational budgets to financial budgets
- Process/steps
- Types of budgets
- Fixed, Flexed, Rolling
- Methods of budgeting
- Incremental
- Zero based budgeting
- Approaches to budgeting
- Top down, bottom up
- Iterative
- Activity orientated
- Task orientated
- Planning programming budgeting system
- Behavioral aspects of budgeting
- Forecasting versus budgeting
- Process flow of an organization
- Gathering information
- Anticipating and budgeting for revenues
- Estimating expenditure
- Understanding costs
- Operational budgets
- Financial budgets
- Statement of financial performance
- Statement of financial position
- Statement of cash flows
Prerequisites
N/A
