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Budgeting and Forecasting in Excel

(PS)-00006

Melbourne

$880.00per person

1 Day, 9:00am - 5:00pm

Public / Open

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.
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
Reporting
  • 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
Reporting
  • Creating an actual vs budget vs forecast report
  • Building a variance analysis with "alert flags"
Scenarios
  • Stress-testing, break-even and sensitivityanalysis
  • 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.

Prerequisites:

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.

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.
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
Reporting
  • 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
Reporting
  • Creating an actual vs budget vs forecast report
  • Building a variance analysis with "alert flags"
Scenarios
  • Stress-testing, break-even and sensitivityanalysis
  • 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.

Prequisites:

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.

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.

Short Courses and In-House Training Programs:

With Training Courses available in these categories:

Financial Modelling | Budgeting & Forecasting | Business Cases & Pricing Models | Data Analysis

Call us to book on 1300 768 368

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