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How to Forecast & Budget More Effectively (ICAS)

BPP Professional Education

Summary

Price
£384 inc VAT
Study method
Classroom
Duration
Full-time
Qualification
No formal qualification
CPD
6 CPD hours / points
CPD What's this?

Location & dates

Location

Address
Venue may change up to 14-days before the course start date
22 Haymarket Yards
EDINBURGH
Midlothian
EH125BH
United Kingdom
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Overview

This one day course teaches budgeting and forecasting methods designed to help organisations to grow. It explores the limitations with traditional approaches to budgeting and forecasting, why forecasts and budgets must be kept apart, and how rolling forecasts can help to drive growth.

It includes a re-evaluation of the role of the budget and looks at techniques to be used for those faced with changing the way that budgets and forecasts operate.

CPD

6 CPD hours / points
Accredited by The CPD Certification Service

Description

What you will learn

    • What is a budget, what is a forecast, why do we have them, and why do they play such a central role in the management of the organisation?
    • The role of forecasting as a driver of growth and how it can reshape what is needed from the budget. You may learn why forecasting needs to be separated from budgeting and why they should have very different aims, the role of the rolling forecast, the importance of information in forecasting, the link between forecasting and performance measurement, how a rolling forecast can reshape what's needed from the budget and why the budget needs to remain but focused on a few specific requirements.
    • If an organisation is starting out, what to get right and what to avoid; why revenue budgets matter more than expenditure budgets, and how to approach both and what sort of controls are needed.
  • The role of Finance in driving change in budgeting and forecasting practice. This course covers why finance managers need to change what they do if they are to be able to deliver change in budgeting and forecasting. Also, how to show colleagues where the problems and opportunities lie

Content

When the conventional annual budget is replaced by the combination of a more credible budgeting process and a rolling forecast, a responsive and highly-effective management tool can emerge. On this course discover how to:

  • Create a dynamic rolling forecast for both revenue and expenditure.
  • Produce a budgeting process that can quickly reflect the output from the rolling forecast.
  • Make your budgeting process responsive to plans inspired by changes in strategy and the market; plus the need for improvements in efficiency and effectiveness of operations.
  • Play a pivotal role as a catalyst for change.

Who is this course for?

This course will benefit board members, senior managers and accountants with responsibility for budgeting.

Questions and answers

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Legal information

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.
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Similar subjects: Finance, Accounting and finance