Forecasts and budgets are essential tools for successful business management. Understanding and using these management tools will facilitate effective decision making and strategic planning and ultimately support growth and development.
Participants will be required to complete a pre-course assignment prior to attending the course. This assignment is designed to directly relate the course to participants’ personal experience and provide practical application of the course outcomes.
Who should attend?
Entrepreneurs, line managers, project leaders, persons involved in budgeting and forecasting or persons who use budgets and forecasts
Duration
One day
Outcomes
Participants will:
Learn the objectives and techniques of forecasting
Understand the difference between cash flow and profit
Prepare forecasts using different sources of information
Understand the factors to consider when performing forecasts
Learn the Dos and Don’ts of forecasting
Understand and prepare a cash flow forecast
Understand the basics of capital expenditure forecasting
Update forecasts for actual results and evaluate actual results against forecasts
Learn how to monitor, report and make decisions based on forecasts
Use forecasting as a performance measurement tool
Prepare a forecast (comprehensive case study)
Content
Forecasting objectives
Forecasting techniques
Cash flow, profit, assets and liabilities
The accounting process
Preparing forecasts
Cash flow forecasting
Capital expenditure forecasting
Monitoring, reporting and decision making
Forecasting as a performance measure
Comprehensive case study
The course also includes several case studies and discussion sessions that are designed to add practical value to the theory behind forecasting and budgeting.
