(Click Category to List Courses)

4 - AAU - Accounting and Financial Auditing

AAU 150 - Advanced Budgeting and Forecasting

Code Start Date Duration Venue
AAU 150 27 February 2023 5 Days Istanbul Registration Form Link
AAU 150 24 April 2023 5 Days Istanbul Registration Form Link
AAU 150 19 June 2023 5 Days Istanbul Registration Form Link
AAU 150 14 August 2023 5 Days Istanbul Registration Form Link
AAU 150 09 October 2023 5 Days Istanbul Registration Form Link
AAU 150 04 December 2023 5 Days Istanbul Registration Form Link
Please contact us for fees


Course Description

This programme provides an overview of the tools and the skills to build world class standards into planning, budgeting, performance measurement and reporting systems. It 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 the 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 that will be used to help delegates understand how to apply different planning, forecasting and analysis techniques. 

Course Objectives

  • Implementing advanced planning and control techniques into the 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 reporting

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
  • Economic Value Added (EVA)
  • The strategic plan
  • 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 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