Budgeting is a must-have skills for all professionals regardless of their function or managerial level. Creating, monitoring, and managing a budget helps you allocate resources where needed, making your business profitable and more successful.
This course will enable participants to understand and apply budgetary planning and cost control. These will support the effective management of organizations via preparing realistic budgets aligned to organizational goals and managing performance against budget.
Who Should Attend:
Non-financial managers and professionals who wish to improve their planning, budgeting, and forecasting skills
Business owners, managers, senior managers, and middle-level executives in non-financial positions need to improve their budgeting & forecasting skills to make critical business decisions involving cost savings, budgets, new projects, growth strategies, etc.
Finance managers and professionals who wish to increase or refresh their knowledge in budgeting & forecasting areas.
Professionals who are new to budgeting, forecasting, planning
Quick Overview:
Online Interactive Live Sessions Using Zoom
Duration: 15 Hours
Number of Sessions: 3 Weeks, 5 Sessions (3 Hours per Each)
Two Days per week from 7 PM till 10 PM (Cairo Time).
Practical Case Studies
Start Date: Sunday 9 May 2023
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Learning Objectives
Upon completion of this workshop, participants will be able to:
Understand the basic principles of budget preparation and control and their importance in planning and monitoring
Link the organization, departmental, or team budget with the organization's strategic plan.
Be able to prepare various types of budgets and implement budgetary controls by reviewing, reacting, and revising the budget
Understand the importance of coordination in the budget process
Appreciate why budgets fail, and learn the best practices in budgeting
Understand and use several forecasting techniques
Use budgets to monitor and control the costs
Be able to communicate with management and the finance function more effectively and confidently
Outline
Module 1: Fundamentals
Intro to Financial, Cost & Managerial Accounting
Importance of Budget and its link to Strategic Management Process
Effective Target Setting
Budgeting: The Basis for Planning and Control
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Advantages & Disadvantages of Budgeting
Module 2: Budgeting
Budgeting Process
Types of Budgeting
The Master Budgeting (Operating & Financial)
Budget Period
Budget Implementation
Activity-Based Budgeting (ABB)
Standard Costing
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Zero-Base Budgeting
Module 3: Budgetary Control
Financial Control Techniques
Budgetary Control Process
Non financial Measures in Budgeting
Static vs. Flexible Budgeting
Variance Analysis
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Flexible Budgeting and Activity-Based Costing
Module 4: The Basics of Capital Budgeting
What is Capital Budgeting?
Classification of Investment Projects
Steps in Capital Budgeting
Methods (NPV, IRR, MIRR, Profitability Index, Payback, discounted payback)
Types and Interaction with Risk
Measuring Risk
Sensitivity analysis
Scenario Analysis
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Break-even analysis
Moudle 5: Forecasting
Elements of a Good Forecast
Forecasting Process
Time-Series Forecasting Techniques
Linear and Seasonality
Forecast Accuracy and Control
Forecast Error Calculation
Meet Your Instructor
Dr. Ehab Abdel Hady
CFO, Financial Consultant & Trainer
A highly experienced and knowledgeable financial consultant, professional instructor, and business mentor. With a Bachelor's degree in Accounting (English Section), he is also a Certified Business Analysis Professional (CBAP) and a Certified Healthcare Financial Management Professional (CHFP). In addition, he holds an MBA degree (awarded in 2015) and a DBA (awarded in 2021). Over the past 20 years, Dr. Ehab has worked with numerous reputable organizations and entities, covering a diverse range of financial areas. Currently, he holds the position of CFO at Alkhorayef Group, an esteemed global enterprise operating in over 40 countries and representing exceptional quality products and manufacturers.
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