effective financial planning, forecasting & budgeting · · 2018-02-144 obtaining budgeted...
TRANSCRIPT
1. Contribute effectively to the budgeting and forecasting of future plans of your department as well theorganization
2. Learn the budget planning processes, preparation, review control and modern day tools for budgetingand variance analysis.
3. Discover and leverage on the different types of budgeting techniques that can be used in organizations.4. Insights into defining the “uncertainties” that affect companies’ ability to produce accurate budgets, and
quantify this with stress-testing, what-if and scenario analysis techniques.5. Understand how to build budgets for the “real world”, allowing for flexibility and future change
Key Takeaways6
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A KEY TO SUCCESS
EFFECTIVE FINANCIAL PLANNING, FORECASTING & BUDGETING
2 Day Program| Dubai - UAE
Effective Financial Planning, Budgeting & Forecasting
TO REGISTER CONTACT 4 T: +971 4 4370704 | E: [email protected] | W: www.lynchpintraining.com
COURSE DIRECTOR
Mirza Farrukh Baig is a qualified Chartered Accountant and a career banker. He has over fifteen years of Corporate Training with a focus on Finance, Accounting, Financial Strategy and Risk Management. He is also the lead corporate trainer at Lynchpin delivering specialized training on Finance and Accounting.
He has served for eight years in a leading commercial bank in UAE where he was instrumental in strengthening the SME credit risk unit. Apart from approval of banking facilities for SME clients he played instrumental role in developing and implementing the SME credit risk policy of the bank.
Currently he is the CEO of Lynchpin Training & Consulting.
Farrukh is a fellow member of the Institute of Chartered Accountant of Pakistan (ICAP). He has been awarded gold medal for outstanding performance in his CA final examination, by ICAP. He also went to Harvard Business School to Executive Entrepreneurship training program.
EXPERIENCE / BACKGROUND
Mirza Farrukh BaigFCA
WORKSHOP OVERVIEW
ABOUT LYNCHPIN
Lynchpin Training is a training division of Lynchpin Group which provides complete set of training and consulting services forbusiness. Our clients come from various industries including banks, asset management, investment companies, ac-
counting and management consultancy firms, and government companies. We are the preferred and chosen corporate trainers of many organizations like
RTA, Dubai World , GCAA , IDS, TECOM Investments, Al Hilal Bank, Saudi Aramco, Americana, CBI, Gulf Drilling International Ltd. (Qatar), Sharjah Tatweer Forum, Grand Stores, etc
With industry’s most complete set of financial courses we are a leading financial training provider in UAE. Our impressive range of programs in accounting, finance and audit are designed to suit all levels of ability, helping you at every stage of your career – whether you are a graduate, head of audit or a CFO. Additionally, we provide coaching for financial certification exams such as CFA, ACCA, CMA, CPA, Dip.in IFRS and others.
Committed to create customer-focused solutions and high quality of our trainings to impact your bottom line, we are one of a few organizations which offer 100% tailoring across our product portfolio. Most of our courses are available as tailored, inhouse and public courses. For more information please visit www.lynchpintraining.com
The budgeting process begins with zero-based budgeting, that is starting at zero and determining the needs of each department and tasks which can provide a far more accurate budget than just allowing for a simple incremental increase each year.
Budgeting also plays a critical role in strategic planning. As software and hardware needs become more sophis-ticated, annual budgeting is a must. Unless you plan ahead and include the costs of changes in your budget, you may find your organization going without the benefits of future advancements or expending significant amounts of money.
As many organizations have recognized over the past year, costs are certainly not a constant factor. Although it is not possible to predict fluctuations in variable costs it is important to review trends and determine if certain costs are unnecessary.
Farrukh is a Fellow member of the Institute of the Chartered Accountants of Pakistan. He has over 2 decades of industry experience working in conglomerates, managmenet consulting and financial sector.
DAY 1Master Budget and Responsibility Accounting4Budgets and the Budgeting Cycle4Why Budget?4Strategic Plans and Operating Plans4Coordination and Communication4Framework for Judging Performance and Facilitating
Case Study: Employee Run Budget Worksheet
Organization Structure and Responsibility4Responsibility and Controllability4Human Aspects of Budgeting
=Top-Down Versus Participatory Budgeting= Budgetary Slack
4Budgeting in Multinational Companies
Tips for Negotiating Your Team’s Budget
Types of Budgeting4Short-Term Versus Long-Term Budgets4Fixed Versus Rolling Budgets4 Incremental Versus Zero-Based Budgeting4Kaizen Budgeting4Master Budget4Tips for Setting Assumptions
Group Discussion:
Flexible Budgets & Control4Static Budgets and Variances4The Use of Variances4Static Budgets and Static-Budget Variances4Flexible-Budget Variances4Price Variances and Efficiency Variances for Direct-Cost Inputs 4Obtaining Budgeted Input Prices and Budgeted Input
Quantities
Group Discussion
Variances to Brew a Turnaround
Case Study: Cost Reduction
4Cost-Behavior Patterns: Variable Costs and Fixed Costs4Cost Drivers
Effective Financial Planning, Budgeting & Forecasting
TO REGISTER CONTACT 4 T: +971 4 4370704 | E: [email protected] | W: www.lynchpintraining.com
AGENDA FOR EFFECTIVE FINANCIAL PLANNING, BUDGETING & FORECASTING
DAY 2Tips for Effective Budgeting
4Prepare expected
=Revenue=Cost of Goods Sold=Operating Income=Alternative Scenario
4Sensitivity Analysis
Cash Budgeting4Receipts & Discernments4Collection and Payments
Case Study: Cash Budgeting
Sensitivity Analysis4Capacity Levels4Additional funds requirement4Expected growth4Understanding Asset Turnover
Case Study: Business Model
Capital Budgeting & Analysis I4Stages of Capital Budgeting4Discounted Cash Flow4Net Present Value Method4 Internal Rate-of-Return Method4What to Rely NPV or IRR
Capital Budgeting & Analysis II4Payback Method4Uniform Cash Flows4Non-Uniform Cash Flows4Categories of Cash Flows4Customer Value and Capital Budgeting
TEA & NETWORKING BREAK
LUNCH BREAK
TEA & NETWORKING BREAK
TEA & NETWORKING BREAK
LUNCH BREAK
TEA & NETWORKING BREAK
Effective Financial Planning, Budgeting & Forecasting
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