Certificate in Advanced Budgeting and Forecasting Page 1 of 9
Why Attend This course is the second level course in budgeting after Meirc's 'Effective Budgeting and Cost ' course. It goes beyond the theory of budgeting as a concept to cover specific steps to make the budget a value-added process in the organization. By building user-friendly models and applying scenario analysis, management will spend less time gathering data and more time analyzing this data for decision making. Several Microsoft Excel tools are used throughout this course to make it practical and to provide participants with the skills needed to apply these tools in their organization immediately. Such tools include 'what-if' analysis and the 'solver', among many others. The course also highlights some of the main forecasting models and the detailed evaluation of capital budgeting techniques, all of which are applied in Microsoft Excel and put into practice. Course Methodology The course is a hands-on application on how to use MS Excel in budgeting and forecasting. Participants will be involved in exercises, individual and group presentations, and will work on several case studies. Course Objectives By the end of the course, participants will be able to: Evaluate the budgeting process in their organizations and recommend improvements Create budget templates and models for their departments or organizations Apply several forecasting techniques to better manage uncertainties in budgeting Evaluate capital budgeting decisions using several methods and recommend proper action Utilize Microsoft Excel functions and tools in the budgeting process including breakeven analysis and optimization Target Audience Finance directors, managers, controllers, accountants, budget analysts, budget owners and professionals who wish to expand their budgeting knowledge. Target Competencies Budgeting Building models in Microsoft Excel Forecasting Evaluating proposals Applying Microsoft Excel functions and tools Assessing budgeting process Note This is a hands-on training course using laptops which will be provided by Meirc for the duration of the course. Course Outline Budgeting and planning Strategy development framework The three horizons of growth model Strategic budgeting and resource allocation Growth-share matrix Nine-box matrix Budgets and the key financial statements Budget cycle, process and approaches The budget cycle Characteristics of successful budgeting Making the budget a value-adding activity Top ten problems with budgeting Choosing the proper budgeting approach: Page 2 of 9
Incremental budgeting Zero-based budgeting Flexible budgeting Kaizen budgeting Activity based budgeting Rolling (continuous) budgets and forecasts The master budget and its components Operating and capital budgets Best practices in budgeting Creating a user friendly budget template Forecasting techniques Forecasting models Qualitative and quantitative methods Steps in developing forecasting models Time series and trend analysis Data conditioning techniques Exponential smoothing and moving averages Simple and multiple regression analysis Modeling projected financial statements Micro and macro factors Forecasting sales Estimating market demand Estimating company demand Developing sales forecast Forecasting cost of sales Forecasting operating expenses Forecasting key assets and liabilities accounts Modeling the income statement forecast Modeling the balance sheet forecast Advanced capital budgeting evaluation techniques Business risk and cost of capital Classifying investment projects Cash flow estimation Analyzing investment and operating cash flows The time value of money concept The required rate of return Net Present Value (NPV) Internal Rate of Return (IRR) Multiple internal rates of return Modified Internal Rate of Return (MIRR) Profitability Index (PI) Payback period and discounted payback period Capital rationing Comparing and evaluating techniques Sensitivity and risk analysis Breakeven analysis and optimization techniques Cost Volume Profit (CVP) analysis Using CVP to reach a target income Page 3 of 9
Single product and multiple products breakeven analysis Working with budget constraints Building optimization models Page 4 of 9
Associations National Association of State Boards of Accountancy (NASBA) : Meirc Training & Consulting is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.learningmarket.org Meirc Professional Certificate (MPC) MPC certified courses by Meirc Training & Consulting are designed for those willing to challenge themselves and go the extra distance. Participants who fully attend an MPC course and successfully complete the test on the last day, will receive a Meirc Professional Certificate (MPC), in addition to the one they receive for full attendance. MPC certificates are regionally recognized and can be quite valuable when applying for more senior roles within the organization or outside. Location & Date 21-25 Apr, 2019 To be assigned 14-18 Jul, 2019 To be assigned 10-14 Nov, 2019 To be assigned Fees: US$ (including coffee breaks and a buffet lunch daily) Per participant - 2018 Per participant - 2019 Fees + VAT as applicable UAE Tax Registration Number 100239834300003 Page 5 of 9
Courses in Planning and Strategy Management Dates Course Name 18-20 Nov, 2018 Business Continuity Management US$ 3500 18-22 Nov, 2018 US$ 4900 18-22 Nov, 2018 Developing and Implementing the Business Plan 25-29 Nov, 2018 The Balanced Scorecard: Achieving Performance Excellence 2-6 Dec, 2018 2-6 Dec, 2018 Certified Organization Development Professional US$ 4900 9-13 Dec, 2018 16-20 Dec, 2018 23-27 Dec, 2018 30 Dec - 3 Jan, 2019 13-17 Jan, 2019 3-7 Feb, 2019 3-7 Feb, 2019 Developing and Implementing the Business Plan 10-14 Feb, 2019 17-21 Feb, 2019 24-28 Feb, 2019 Certificate in Key Performance Indicators (KPIs) 3-5 Mar, 2019 Business Continuity Management US$ 3600 3-7 Mar, 2019 17-21 Mar, 2019 Certified Organization Development Professional 17-21 Mar, 2019 Developing Effective Public-Private Partnerships (PPPs) 24-28 Mar, 2019 31 Mar - 4 Apr, 2019 Shaping the Future: Tools for Developing Strategic Foresight 7-11 Apr, 2019 Language Location Fees Page 6 of 9
Courses in Planning and Strategy Management Dates Course Name 14-18 Apr, 2019 14-17 Apr, 2019 Certified Crisis Management Professional US$ 4700 28 Apr - 2 May, 2019 16-20 Jun, 2019 23-27 Jun, 2019 Certificate in Key Performance Indicators (KPIs) 30 Jun - 4 Jul, 2019 The Certified Business Analyst Professional 7-11 Jul, 2019 7-11 Jul, 2019 Strategic Decision Making in Competitive Environments 14-18 Jul, 2019 Building and Presenting a Powerful Business Case 21-25 Jul, 2019 The Balanced Scorecard: Achieving Performance Excellence Munich 4-8 Aug, 2019 25-29 Aug, 2019 Barcelona 8-12 Sep, 2019 Istanbul 15-19 Sep, 2019 The Certified Business Analyst Professional Istanbul 22-26 Sep, 2019 Developing and Implementing the Business Plan 29 Sep - 3 Oct, 2019 Abu Dhabi 6-10 Oct, 2019 Competitive Strategies and Value Innovation 6-10 Oct, 2019 Cairo 13-17 Oct, 2019 The Balanced Scorecard: Achieving Performance Excellence 13-15 Oct, 2019 Business Continuity Management US$ 3600 20-24 Oct, 2019 Certified Organization Development Professional 20-24 Oct, 2019 The Effective Analyst: From Research to 20-24 Oct, 2019 Language Location Fees Page 7 of 9
Courses in Planning and Strategy Management Dates Course Name 27-31 Oct, 2019 Strategy Management in the Public Sector 3-7 Nov, 2019 3-7 Nov, 2019 10-14 Nov, 2019 17-21 Nov, 2019 Certificate in Key Performance Indicators (KPIs) 17-21 Nov, 2019 Developing Effective Public-Private Partnerships (PPPs) 24-28 Nov, 2019 Developing and Implementing the Business Plan 1-5 Dec, 2019 The Certified Business Analyst Professional 2-4 Dec, 2019 Business Intelligence and Data Analysis Workshop Beirut US$ 3600 8-12 Dec, 2019 Certified Organization Development Professional 8-12 Dec, 2019 Shaping the Future: Tools for Developing Strategic Foresight 15-18 Dec, 2019 Certified Crisis Management Professional US$ 4700 15-19 Dec, 2019 22-26 Dec, 2019 22-26 Dec, 2019 22-26 Dec, 2019 29-31 Dec, 2019 Conducting Successful Business Reviews US$ 3600 Language Location Fees Page 8 of 9
Courses in Planning and Strategy Management Dates Course Name Language Location Fees Page 9 of 9