Budgeting, Forecasting and Planning
Classroom based course with study materials, lecturer support and CPD Hours included
London Training For Excellence
Summary
Price
£4,320 inc VAT
Study method
Online
Duration
5 days · Self-paced
Qualification
No formal qualification
Additional info
- Tutor is available to students
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Overview
Managers have financial responsibilities and many have budgets to write and control and face many decisions that require forecasting and planning i.e. preparing their budgets. Using Oil and gas industry examples and exercises, this course aims to break down some of the financial barriers in an entertaining and informative style, with numerous examples. Bring your calculator. It gives an insight into the world of budgeting for financial and non-financial managers and professionals.
Description
Introduction:
- The Planning Process
- Need and system of Plans
- Steps in Developing the Near-Term Sales Plan
- Sales Forecasting
- How to measure cost behavior using the account analysis, high-low, visual-fit, and least-squares regression Methods?
Budget and Budgeting:
- Definition of Budget
- Strategic Focus of Budgeting
- What are the Advantages of Budgets?
- Management Support
- Time Coverage of Budgets
- Types of Budgets
Budgeting and Planning:
- Strategic Planning and Budgeting Process
- Why You Must Link Budgeting and Forecasting to Planning and Performance?
- Budget Participants and Budget Preparation Procedure.
- Participative Budgeting and Importance of Communication in Effective Planning Process.
- Building the Budgeting Model
- Prepare the budget structure
- Writing the budges
- Monitoring
- Comprehensive (Master) Budgeting
- How to manage the cash Resource
- Objectives of Cash flow and Working Capital Management
- Cash flow Reporting
Capital Budgeting:
- What is Capital Expenditure?
- Nature of Capital Investment Decisions
- What is Capital Budget?
- Stages of Capital Budgeting Process
- Relevant Cash Flows
- Methods of Evaluating Capital Investments
Budgeting and control
- Flexible Budget and Overhead Analysis
- The advantages of the flexible budget approach over the static budget approach.
- Prepare a performance report for both variable and fixed overhead costs using the flexible budget approach.
- Use the flexible budget to prepare a variable overhead performance report containing only a spending variance
- Use the flexible budget to prepare a variable overhead performance report containing both a spending and an efficiency variance.
- Explain the significance of the denominator activity figure in determining the standard cost of a unity of product.
- Apply overhead cost to units of product in a standard cost system.
- Compute and interpret the fixed overhead budget and volume variances.
- Variances Investigation
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This course is advertised on reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.
FAQs
Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.
CPD stands for Continuing Professional Development. If you work in certain professions or for certain companies, your employer may require you to complete a number of CPD hours or points, per year. You can find a range of CPD courses on Reed Courses, many of which can be completed online.
A regulated qualification is delivered by a learning institution which is regulated by a government body. In England, the government body which regulates courses is Ofqual. Ofqual regulated qualifications sit on the Regulated Qualifications Framework (RQF), which can help students understand how different qualifications in different fields compare to each other. The framework also helps students to understand what qualifications they need to progress towards a higher learning goal, such as a university degree or equivalent higher education award.
An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.
