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30 - AAU - Accounting and Financial Auditing

AAU 150 - Advanced Budgeting and Forecasting

Code Start Date Duration Venue Fees
AAU 150 28 June 2020 5 Days Istanbul $ 3950 Registration Form Link
AAU 150 19 July 2020 5 Days Istanbul $ 3950 Registration Form Link
AAU 150 23 August 2020 5 Days Istanbul $ 3950 Registration Form Link
AAU 150 20 September 2020 5 Days Istanbul $ 3950 Registration Form Link
AAU 150 18 October 2020 5 Days Istanbul $ 3950 Registration Form Link
AAU 150 15 November 2020 5 Days Istanbul $ 3950 Registration Form Link
AAU 150 13 December 2020 5 Days Istanbul $ 3950 Registration Form Link


Course Description

This programme provides an overview of the tools and the skills to build world class standards into your planning, budgeting, performance measurement and reporting system and will discuss new and best practice techniques, explain how they complement the traditional financial planning tools, and introduce new concepts for measuring and reporting performance and shareholder wealth creation. Important elements of this programme include making your budgeting process more cost effectively and motivating managers to “buy in” to the budget process. It also covers many case studies and illustrations of real companies will be used to help delegates understand how to apply different planning, forecasting and analysis techniques. Participants will also be given a detailed set of handouts that will enable them to review the topics covered at a later date.

Course Objectives

  • Implementing advanced planning and control techniques into your budgeting process
  • Integrating the budgeting process with the development of the company’s long-term strategic vision
  • Providing a decision support structure that provides timely and useful information to decision makers
  • Successfully building an integrated planning, budgeting and reporting process
  • Forecasting costs and revenues with greater confidence
  • Applying management tools to the budgeting process that contribute to strategic goals
  • Effectively managing the budgeting process
  • Identifying key performance indicators for effective and focused decision making
  • Increasing profitability and performance through stream lined planning and reportin

Who Should Attend?

  • Financial professionals
  • Sales/marketing professionals
  • General accounting professionals
  • Anyone who wants to understand the basics of budgeting and costing

Course Details/Schedule

Day 1

  • Budgets in Today’s International environment
  • Organizational Planning and Control Framework
  • The Product / Information / Decision Support cycle
  • Strategic, Tactical, and Operational Forecasts
  • The recognition of risk in Models
  • Using Budget Models for Simulation Purposes
  • The Drive toward Shareholder Value (EVA®)
  • The Strategic Plan
  • The purpose of planning and budgeting in business
  • Defining the strategic approach to business planning
  • Defining strategic assumptions
  • Building the strategic planning model using financial data
  • Various strategic and tactical approaches to business planning
  • Defining the Decision-Support model: Assumptions/Goals and Key Success Factors

Day 2

  • Analysing the Historical Data Using Excel®
  • Recognizing the Basic Patterns Inherent in Historical Data
  • Using the Exploratory Data Analysis Tools Available in Excel®
  • Development of Time Series Models using histograms, moving averages, exponential smoothing and regression analysis
  • Using Regression Analysis as a predictor and estimator
  • Mastering the use of Exponential Smoothing as a Data Analysis tool
  • Single Regression vs. Multiple Regression
  • Validation of Time Series Analysis

Day 3

  • Approaches to Budget Development
  • Zero Base Budgeting
  • Activity based Budgeting
  • Rolling Budgets
  • Operational Unit Budgeting
  • Programme budgeting
  • Developing the Cash Budget
  • Using Activity based Budgeting
  • Developing the ABB application model
  • Budgeting for Processes rather than Departments
  • Defining Key Cost Drivers
  • Defining Key Activities
  • Development of ABB Cost Standards
  • Developing the Activity-Based Budget

Day 4

  • Strategic and Operational Cost Analysis Techniques
  • Identifying fixed, variable and semi-variable costs
  • Application of Regression in the development of budgets
  • Building the financial simulation model using articulated financial statements
  • Building the financial simulation model using deterministic simulation
  • Building the financial simulation model using probabilistic (Monte Carlo) simulation
  • Developing Manufacturing Standards
  • Material Standard Development
  • Labour Standard Development
  • Factory and Corporate Overhead Standard Development
  • Variance Analysis

Day 5

  • Defining and Testing Optimisation Techniques in Models Using Excel®
  • Basic Structure of All Optimisation Models
  • Different Forms and Applications of Optimization Models
  • Developing a Financial Optimisation Model
  • Performing Sensitivity Analysis of an Optimisation Model
  • Interpreting the Solution of an Optimisation Model to a Non-technical Manager
  • Lessons Learned and Lessons to be Learned