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Plum Solutions

Budgeting and Forecasting in Excel

Melbourne $880.00 AUD per person

Quick Overview

Training Course Overview

Training Course ID: (PS)-00006

If you are new to the budgeting and forecasting process, this practical course will cover issues such as using budgets to measure staff performance, linking budgets to the strategic planning process and a comparison of budgeting techniques. We will explore the difference between budgets and forecasts, and you will learn how to create your own budget, rolling forecast, variance report and budget scenarios in Excel.

1 Day, 9:00am - 5:00pm
Plum Solutions
Level 8, 500 Collins Street Melbourne
Public / Open

Detailed Course Information

Part One: Budgeting and Forecasting Theory

Budgets and Strategic Planning

  • Linking Budgets to business objectives
  • Budgeting to achieve organisational objectives
  • How to turn measurement into management

Using Budgets as Performance Management

  • The impact of budgets on organisational performance
  • Successfully integrating forecasting and budgeting as essential tools for measuring performance
  • Translating the organisation's values into measures and targets


  • Using reporting to promote accountability
  • Variance analysis
  • Budgeting and forecasting as a planning and management tool
  • Assessment and selection of appropriate systems

Budgeting Techniques

  • Historical-based versus Zero-based budgeting
  • Top down vs bottom up
  • Activity Based Budgeting
  • Differences between a static, flexible and rolling budget
  • Budgeting for capital expenditure vs. operational expenditure

Limitations of budgets

  • Estimations and rigidity
  • Staff perceptions and changing environments
  • Dysfunctional budgeting behaviour

Budgeting ""Soft"" Skills

  • Achieving buy-in from stakeholders
  • Involving non-financial management of the organisation
  • Techniques in getting your budget approved
  • Managing conflicting priorities and demands
  • Setting timelines

Part Two: Budget and Forecast Modelling

Building a Budget

  • Revenue calculation
  • Headcount and other staffing costs
  • Operational expenses
  • Capital expenditure

Building a Forecast

  • Incorporating budgets, actuals and forecast
  • Creating a "rolling" forecast with live data


  • Creating an actual vs budget vs forecast report
  • Building a variance analysis with "alert flags"


  • Stress-testing, break-even and sensitivity analysis
  • Creating and displaying budget scenarios
This course is delivered in two parts; the first part of the day covers the theory of budgeting and forecasting within organisations. Issues such as budgeting to organisational objectives, level of granularity and selecting the correct budgeting tool will be discussed. Students are encouraged to share their own experiences with the class. In the second part of the day, students will build their own budget and forecasting model to bring a practical application to the skills they have learned. The model will include a budget, rolling forecast, variance report as well as scenarios and sensitivity testing.


This course is designed for users who use Excel fairly regularly, and are comfortable with using simple functions. It is assumed that the user will know how to create simple formulas, and link between workbooks. If you are unsure about your level of Excel, you might also consider joining the online Excel School prior to coming on the course.

Related Training Courses

Provider Terms & Condition

Plum Solutions

Plum Solutions delivers training in the following course categories

  • Financial Modeling
  • Financial Services

Plum Solutions Training Courses and Open Programs in Sydney, Melbourne and Brisbane, Australia. With Training Courses available in these categories:

Short Courses and In-House Training Programs:

Accounting & Taxation | Business Courses | Communication Skills | Financial Services

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Friday, 15 Aug 2014
Tuesday, 11 Nov 2014

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