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B6: Advanced Budgeting and Forecasting
Course Length: 2 days
Learn how to build sophisticated budgets and forecasts that are robust, flexible and user-friendly
Dates, Locations & Fees | Facilitator |
Download Brochure | Run this course In-House | Back
What you get From this Course
- Learn new ways to improve efficiencies in the budgeting and forecasting processes by gaining valuable skills in advanced Excel functions.
- Discover how to allow for uncertainty and model different business scenarios.
- See how to apply a sound methodology that will allow complex Budget and Forecast models that are flexible, robust and user-friendly.
- Learn advanced ways of analyzing data to determine trends and using these to forecast future performance.
- See how to utilize external data to enhance the accuracy of forecasts.
- Learn about alternate budget methodologies and how to determine which methodology applies best in different situations.
- Learn new ways to use the advanced features of Excel to optimize models and achieve maximum efficiency within constraints.
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Discover a range of techniques to improve the usability and reliability of your budget and forecast models.
- Learn how to integrate budgeting and forecasting and align these processes with your business strategy.
- Create forecasts that properly incorporate imprecise data and allow for uncertainties.
- Gain the confidence that comes from knowing that your budgets and forecasts are robust, accurate, and reliable.
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Agenda Highlights
Download Brochure
Recent events have caused many companies
to re-examine the budgeting and forecasting models they
use in their decision making processes to ensure they
are up-to-date and incorporate the latest in budgeting
and forecasting best practices.
Furthermore, many organisations see
the current economic situation as an opportunity to expand
their businesses by taking advantage of weaker competitors.
To support all these decisions, sound budgeting and forecasting
is essential.
This course provides delegates with
an understanding of both the principles of budgeting and
forecasting and the practical application of these to
real-world situations through the use of Excel.
The course then builds upon the principles
and practices learned to apply these to build sophisticated
budgets and forecasts that are robust, flexible and user-friendly.
Day One
Budgeting & Forecasting Re-cap
Overview of the budgeting process and model considerations:
- Types of budget models
- Short-term & long-term models
- Model design & planning
- Best practice design guidelines
- Budgeting vs forecasting
Activity 1: Identify Improvements
Attendees will work as a group to apply the knowledge
learned to identify improvements to an existing model.
Planning the Model
Compare and contrast the different budgeting methods.
Determine which model is best suited to various applications.
- Top down vs bottom up budget models
- Model development framework
- Zero-Based Budgeting & cost drivers
- Rolling (dynamic) Budgets
- Building flexibility into time series analysis
- Cash Budgeting
- Determination of Model and Forecast scope and time horizons
Activity 2: Excel Refresher
A recap of the most useful Excel functions used in building
budgets and forecasts
Case Study: Identifying Cost
& Revenue Drivers
Attendees will examine a company's accounts to identify
the cost and revenue drivers that will be used in building
the budget.
Activity 3: Building the Model
As attendees progress through the course, they will build
a complete budget model. In this activity, attendees build
time series and cost driver functionality.
Analyzing Historical Data
Learn advanced ways of analyzing historical data and using
this to identify trends and forecast future performance.
- Extracting historical data from financial systems &
using this to forecast results
- Recognizing patterns in financial data
- Using Exploratory Data Analysis tools in Excel
- Using Excel's tools to estimate future performance:
regression analysis, trend analysis, future period prediction
- Techniques to allow for seasonality
Activity 4: Building the Model
Attendees extend their budget models to analyze historical
data and develop predictions of future performance.
Day Two
Ensuring Integrity
Learn how to ensure the model's integrity is maintained
such that any imbalances are detected quickly.
- Designing the model to incorporate integrity checks
and balances
- Effective and efficient methods to ensure model integrity
is maintained
Activity 5: Building the Model
Attendees extend their budget models to incorporate checks
and balances, then present a summarized budget.
Sensitivity & Scenario Analysis
Learn how to sensitize inputs to allow for uncertainty,
and learn how to incorporate multiple scenarios into budget
models to provide flexibility.
- Performing Sensitivity Analysis
- Overview of Sensitivity Analysis
- Techniques to incorporate multiple "What-if" scenarios
in models
Activity 6: Building the Model
Attendees extend their budget models to allow for multiple
scenarios and sensitivity analysis on key inputs.
Optimizing Budget Models
Learn how to use the advanced features of Excel to optimize
results and achieve maximum efficiency within constraints.
- Different functions and techniques available to optimize
models
Activity 7: Model Optimization
Attendees work through a practical example of using Excel's
tools and functions to optimize models within various
constraints.
Using Economic Data
Learn how to enhance budgets and forecasts by incorporating
external data.
- Sources of external data
- Using external economic/industry data in models for
top-down forecasting, and/or to validate the forecasts
produced
Activity 8: Using Economic Data
Attendees use economic data to build a top-down budget
model.
Model Automation
Discover a range of techniques to improve the usability
of budget models:
- Building automation into models to provide a user-friendly
interface and simplify model operation
Activity 9: Incorporating Automation
Attendees will build user-friendly controls into their
budget models to improve usability.
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Who Should Attend?
- Budget Analysts
- Finance Managers
- Business Planning Managers
- Management Accountants
- Business Analysts
- CFO's
- Financial Modellers
- Investment & Corporate Bankers
- Finance Professionals
- Accountants
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Facilitator: Jeff Robson
 Masters (Applied Finance) - Current, BCom (Accounting & Information Systems), CISA, AFAIM, A Fin, MAICD, MS Excel Expert
Jeff is the Principal Business Analyst and Founding Director of Access Analytic, a company which specialises in financial modelling, management reporting and spreadsheet auditing.
He has extensive experience in financial modelling, forecasting, valuation, model auditing, and management reporting for clients throughout the world.
He is skilled in the development and maintenance of analytical tools and financial models for middle-market to large corporate transactions and clients, at all levels of complexity, in both domestic and international settings.
He has worked with companies such as Chevron, BankWest, Petronas, Rio Tinto, Glencore, KPMG, Grant Thornton and Toyota.
He provides training and financial modelling for companies throughout the Asia Pacific region.
Before working with Access Analytic, Jeff spent 6 years working in the Corporate and IT Consulting divisions of a large, multi-national Chartered Accounting firm.
Jeff is the author of a number of white papers on financial modelling on subjects such as Financial Modelling Best Practices and Financial Model Auditing.
Earlier in his career, he spent five years in banking and finance.
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Feedback from Previous Participants
| Feedback |
Initials & Position |
| "Excellent course for learning budgeting and forecasting. I will apply this to my work on Monday!" | B.L., Budget Analyst,
Phillip Morris |
| "I feel very confident with budgeting now. Thanks!" | Z.M., Analyst,
Islamic Bank |
| "Very useful. I learned many new things that will make me more efficient in budgeting." | A.R., Management Accountant,
Manufacturing |
| "There were so many things I can use and apply! Many many thanks!" | A.Z., Senior Analyst,
Corporate Finance |
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Benefits & Inclusions
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Practical:
Jeff Robson is a highly experienced facilitator who
actively and regularly consults to clients also. |
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Applicable:
apply what you learn to your job to further your career. |
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Hands-on:
the course is designed to provide maximum hands-on
experience. |
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Passionate:
Jeff Robson loves this subject! |
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Clear: we
specialise in translating complex subjects into concepts
that are easy to understand. |
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On-going help:
you can always e-mail the facilitator. |
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CD: includes
worked examples, suggested solutions, reference materials,
and a large variety of templates that can be immediately
applied to kick-start your projects. |
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Comprehensive course
notes. |
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Networking:
meet industry peers and hear how they approach this
subject. |
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Small groups:
seats are strictly limited to ensure maximum interaction
with the facilitator. |
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Certificate
of completion. |
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... and much more! |
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Dates & Locations
Book for Open Sessions of
"Advanced Budgeting and Forecasting"
Book one or more staff to attend an open session of this course:
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Date(s)
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Location
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Last Earlybird
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Start Time
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Price
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Book/
Info
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| 7-8 Oct 10 |
Kuala Lumpur, Malaysia |
7 Oct 10 |
9:00 AM |
USD POA |
Click
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Alternatively, register your interest below and we will notify you when future sessions are scheduled in your area. No courses near you?
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Register/Enquiries
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Online: click
any link above to use our secure online registration |
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Phone: call
+61 8 6210 8500 & speak to our facilitators (GMT+8) |
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E-mail: |
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Clients who have 3-4 or more people interested in this course normally prefer to run this course on an in-house basis in their offices.
We can bring all the equipment for up to 8 people so all you need is a room!
Benefits
- Flexibility: we can combine
content from multiple courses to create a custom course
just for you, add-on a workshop or some mentoring sessions
then run everything at the times that suit you.
- Timing options: if you're
in Perth, we can split courses into half or single days
and schedule these at times to suit you
- No hidden extras: our fixed
fee includes all materials and equipment costs for up
to 10 participants
- Cost effective: no extra
fees for extra participants (maximum of 8 per session)
Optional Workshop Add-on
A Workshop is a half or full-day group session where participants bring along their Excel models to gain help, ideas and suggestions on how their models could be improved.
Clients often book a Workshop in addition to the standard training course since the Workshop provides a fantastic way for participants to:
- apply and reinforce the knowledge and principles from the course
- gain immediate productivity benefits in their Excel models
- better understand the models that are used in their office
For all these reasons, clients booking workshops gain a far greater return on their training investment.
Cost: AUD3,000 (full day), or AUD1,600(half-day)
To gain all these great benefits, just book your workshop when arranging your course.
In-house Course Fees
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Recommended Add-ons |
| Location |
Fee per Day |
1 Mentor Session |
6 Mentor Sessions |
| Perth metropolitan area |
AUD3,000 |
AUD400/person |
AUD2,160/person |
| Other Australia |
AUD3,500 |
AUD400/person |
AUD2,160/person |
| Overseas |
AUD4,000 |
AUD400/person |
AUD2,160/person |
|
Notes:
- Prices exclude GST
- Fees are per day, NOT per participant
- A 10% discount applies when booking 5+ full days
of training
- Fees include all disbursements
- Many courses can also be split into half-days (please enquire)
- Fees for locations outside of Perth do not include equipment
Call Jeff Robson on +61 8 6210 8500 to discuss your requirements.
Bundled Course & Mentoring
Mentoring sessions are 2-hour, individual, one-on-one sessions with the facilitator
where participants use their own files and work on any issue they choose.
Training in this manner allows participants to reinforce the principles they learned
on the course by applying them to real-life situations and get personalised assistance in private with anything they'd like to discuss.
This ensures a deeper understanding and therefore a much longer-lasting benefit by bridging the gap between what was learned on the course and what happens in real-life.
As a further benefit, it also provides an immediate payoff by improving and enhancing participants' productivity.
Mentoring Details
Booking
To take advantage of the bundled mentoring options, just discuss this when booking your
course and we'll arrange everything.
Call Jeff Robson on +61 8 6210 8500 to discuss
your requirements.
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