Effective planning, budgeting and forecasting skills are essential if the organisation is to have any opportunity anticipate and manage the kind of rapid and disruptive change that represents one of the biggest challenges to the survival and strength of 21st century enterprises. This training course will focus on building the practical spreadsheet skills directly relevant to understand and make a practical contribution to these vital planning, budgeting and forecasting processes.
What are the goals?
By the end of this Coventry Academy training course, delegates will be able to:
Participate In and Support the Planning, Budgeting and Forecasting Process
Apply Advanced Excel Modelling Skills in These Key Processes
Apply Latest Techniques in Cost Forecasting and Management
Build Effective Spreadsheet Models to Assist in Investment Decision-Making
Develop Models for Applying Sensitivity Analysis to Risk Management
Who is this training course for?
This Coventry Academy training course will not only be of benefit to planning team members, but it will also provide a useful insights and tools for other professionals in related fields, in particular the course will greatly benefit:
Financial Accounting Team Members
Cost and Management Accounting Staff
Finance Managers
Budget Managers
Commercial Managers
Capital Investment and Project Team Members
Investment Analysts and Acquisition Team Members
Risk Managers
Course Outline
Day One: Fundamentals of Business Planning
The aims and principles of strategic planning
A framework for effective strategic execution
The structure and format of financial statements
Measuring and managing financial performance
Principles of financial modelling
Spreadsheet skills: Excel best practice and modelling tips
Day Two: Principles and Techniques of Business Forecasting
Spreadsheet skills: using Excel’s statistical analysis tools
Using moving averages to analyse time series data
Using linear regression for sales trend analysis
Applying exponential smoothing to forecasting
Spreadsheet skills: using Excel Solver to minimise forecasting error
Avoiding common forecasting problems
Data visualisation – presenting data to non-financial managers
Day Three: Budgeting for Revenue and Operating Costs
The role of budgeting in the planning cycle
Traditional and advanced approaches to cost analysis
Spreadsheet skills: using regression and correlation for cost forecasts
Criticisms and limitations of conventional budgeting methods
Beyond Budgeting
Spreadsheet skills: building rolling forecast models
Day Four: Cash Flow Forecasting and Cash Budgeting
Understanding the drivers of business cash flow
Spreadsheet skills: building a cash flow forecast model
Principles of capital budgeting
Capital investment appraisal tools
Understanding discounted cash flow (DCF) analysis
Spreadsheet skills: building a capital investment appraisal model
Day Five: Incorporating Risk Management in to Planning and Forecasting
Identifying and analysing business risk
Probability based approach to decision-making
Spreadsheet skills: building decision trees in Excel
Sensitivity analysis and “What-If” forecasting
Identifying the key drivers of financial performance
Spreadsheet skills: building a “What-If” forecast for sensitivity analysis
The certificate
Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course