Effective Financial Planning,
Forecasting & Budgeting

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Course Overview

Key Takeaways

Course Outline

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Course Overview

Budgeting and Forecasting Using Advanced Excel Program in Dubai

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.

Course Details

Training Dates

25 & 26 September 2024

This is a customized program and can be run as one to one or as in-house training.

Training Fee

Run this program in-house and save cost!

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In-House

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program at your premise of choice, with lower costs, and schedule that suits you best.

FULLY CUSTOMIZED
ACCORDING TO YOUR NEEDS!

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Key Takeaways

Contribute

Contribute effectively to the budgeting and forecasting of future plans of your department as well the organization

Learn

Learn the budget planning processes, preparation, review control and modern day tools for budgeting and variance analysis..

Discover

Discover and leverage on the different types of budgeting techniques that can be used in organizations.

Insights

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.

Understand

Understand how to build budgets for the “real world”, allowing for flexibility and future change

Course Outline

  • How the budgets are used as a strategic tool to align the company’s objectives
  • Understand and evaluate the financial and non-finance drivers of the budgeting process
    • Budgets and the Budgeting Cycle
    • Why Budget?
    • Strategic Plans and Operating Plans
    • Coordination and Communication
    • Framework for Judging Performance and Facilitating
    • Responsibility and Controllability
    • Human Aspects of Budgeting
      1. Top-Down Versus Participatory Budgeting
      2. Budgetary Slack
    • Budgeting in Multinational Companies
  •  
    • Short-Term Versus Long-Term Budgets
    • Fixed Versus Rolling Budgets
    • Incremental Versus Zero-Based Budgeting
    • Master Budget
    • Tips for Setting Assumptions
      • Static Budgets and Variances
      • The Use of Variances
      • Static Budgets and Static-Budget Variances
      • Flexible-Budget Variances and Sales-Volume Variances
      • Sales-Volume Variances
      • Flexible-Budget Variances
      • Price Variances and Efficiency Variances for Direct-Cost Inputs
      • Obtaining Budgeted Input Prices and Budgeted Input Quantities
    • Cost-Behavior Patterns: Variable Costs and Fixed Costs
    • Cost Drivers
  • Collection and Payments
    • Capacity Levels
    • Additional finds requirement
    • Exception Growth
    • Understanding Asset Turnover
  •  

Course Outline

    • Capacity Levels
    • Additional finds requirement
    • Exception Growth
    • Understanding Asset Turnover
  •  
    • Payback Method
    • Uniform Cash Flows
    • Non-Uniform Cash Flows
    • Categories of Cash Flows
    • Customer Value and Capital Budgeting
  • Create a smart budget template to be used in the end-to-end budgeting process
  • Linking plan of different budgets’ component to the master budget
  • Relative and absolute cell referencing to error-proof the whole budget
  •  
  • Logical functions to compare the budget vs actual outputs
  • Finance functions (NPV, PMT, IRR etc.) for capital budgeting
  • Variance Analysis and waterfall-chart for variance impact analysis using Advanced Excel
  • Scenario analysis in Budgeting using the specific Excel functions including Goal Seek and Solver
  • Redraft the budgeted income statement using Solver tool in excel and create multiple scenarios dynamically
  • Analyzing the budgeted outputs using Pivot Tables
  • Simple Regression Analysis to analyse the impact of cost elements on revenue (e.g. selling expenses vs sales, promotion vs advertising on sales etc.)
  • Multiple Regression Analysis to analyse the impact of multiple independent variables on a dependent variable
  •  
  • How to create a dashboard for budgeted vs actual indicators
  • Dynamic chart updates and advanced filters and slices
  •  
  • Budgeting beyond excel
  • Coherence of all different budgeting elements
  • Sharing the budgets across the organization in a secure formatted file structure
  •  

Trainer's Profile

Mr. Mirza Farrukh Baig,
FCA
Harvard Trained | CEO Lynchpin Group | Lead VAT Trainer & Consultant

Mirza Farrukh Baig-Harvard Trained, is one of our Decorated & Talented Trainer and Instructional Designer for Finance, Accounting, Risk Management training courses at Lynchpin Training. With him on the training venue, we guarantee the best style of delivery, team engagement, the energy level of the class and the WOW experience by your team is assured.

Mirza Farrukh Baig is a qualified Chartered Accountant and a career banker. He has over fifteen years of experience teaching CMA, ACCA, CFA and CA students. 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 an instrumental role in developing and implementing the SME credit risk policy of the bank.

Currently, he is the CEO of Lynchpin Training & Consulting and Chief Consultant for VAT Advisory, Consulting & Implementation. Farrukh carries extensive experience in dealing indirect taxes both for the UK and South Asia. Provided VAT (Value Added Tax) consultancy services with due care, experience, resources, and exposure to tax regimes.

Farrukh is an associate member of the Institute of Chartered Accountant of Pakistan (ICAP). He has been awarded a gold medal for outstanding performance in his CA final examination, by ICAP. He also went to Harvard Business School to Executive Entrepreneurship training program.

What our Clients have to say

I am implementing my real work in the training as it applies fully to what I do and it came to me at the right time, strategising now for my work based on the learnings from training
Manager Learning & DevelopmentThe Executive Council of Dubai
Excellent experience with Lynchpin and this session I will never forget. Their Trainer is very knowledgeable and has lots of examples from his experience. Keep up the good work lynchpin team !
Finance ManagerCivil Aviation Authority Abu Dhabi
Training was with live examples and case studies, Trainer has delivered the training with passion and sincerity. Both Venue and Training were Good.
Sr. Manager ReportingDubai World
Lynchpin workshop was great learning with my current tasks at work, which was taking me long time before the training.
Faiza NasirPortfolio Manager, NBAD
Fun learning and I am implementing my real work in the training as it applies fully to what I do and it came to me at the right time, strategising now for my work based on the learnings from training
Head of FinanceYAS Water World
Lynchpin’s session was informative and required for business heads. Trainer went to the required level of audience to make them understand the concept. (Head of Corporate Planning, Eurostar) Everything was well organized,Lynchpin is very respectable Training Company –
Accounts ManagerAl Wazan Oil & Gas
Trainer is very knowledgeable and patient and passionate with training. He make sure the trainees have fun ensuring they have learning as well. I have been with Lynchpin for CMA and now this and for both i felt well taken care of.”
DidithAccountant - Arthur D Little
Very Persuasive approach by Lynchpin , very accurate and worth for whole day listening to the trainer. The group work in inhouse program is worth attending.Excel is never delivered like this before.
Director SalesFerrari World
Lynchpin trainer is brilliant and have excellent delivery skills – a new way to learn Finance for Non-Finance.
VP Human ResourceThuraya UAE
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