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Budgeting and Forecasting: Understanding your numbers

Effective management of business’ finances is critical to the long term success of any business. Many professionals are responsible for budgets & forecasts, but never took any courses to learn the fundamental principles of budgeting and forecasting. This hands-on intensive 2-day course targets professionals from non-financial background, who need to understand the fundamental budgeting principles and forecasting methods, budget process, and want to improve their financial literacy.

Date: December 4-5, 2014
Time: 9:00 am – 5:00 pm
Location: 688 Sherbrooke Street West
Fee: $895.00 CAD plus applicable taxes

Course Pre-requisite: Basic knowledge of Excel functions is recommended


Description

This course covers core budgeting concepts: costing methods, budget process, capital budgeting, revenue forecasting, cost accounting, budget analysis and the balanced scorecard.

The course shows also how Microsoft Excel™ is applied in budgeting and forecasting techniques, such as pivot tables and management of financial databases. Recent research reveals that nearly 75% of North American companies use Excel as their primary budgeting and forecasting tool.

Use of case methodology and exercises to create, execute and analyze different types of budgets, perform Cost-Volume-Profit and Break-even analysis.

Optimization of financial decision making through Strategic Planning and the Budgeting Process, Capital Investment Appraisal, Financing and Cost of Capital, Costing Techniques, Corporate Budget Process, Forecasting Methods, and Budget Controls.

Focus on budget development issues (such as transparency) and execution.

The course does not teach financial accounting.


Who Should Attend

Professionals responsible for budgeting and forecasting, or using budgeting and forecasting results to make decisions or manage operations.


Objectives

At the end of this course the participant is able to:

  • Understand Strategic Planning
  • Tie the Strategic Plan to the Budget
  • Use different types of budgets: fixed, flexible, zero based and Activity Based Budgeting (ABB)
  • Select optimal financing sources
  • Monitor Capital Structure (Debt vs. Equity)
  • Perform Cost-Volume-Profit and Break-even Analysis
  • Apply Standard and Activity Based Costing (ABC)
  • Prepare a budget forecast
  • Execute budgetary control

Topics Covered

  • Understand Strategic Planning
    1. Definition
    2. Employee commitment
    3. Strategies: planning and forecasting
    4. Corporate strategy and operational plans: Correlation
    5. Planning process
    1. Tie the Strategic Plan to the Budget
    2. Rolling budget approach
    3. Synergy: budget, cash flow, strategic plan
  • Use different types of budgets:
    1. Fixed and flexible budgets
    2. Zero based budget
    3. Activity Based Budgeting (ABB)
  • Select optimal financing sources
    1. Cost of debt
    2. Cost of equity
    3. Cost of mix source
  • Monitor Capital Structure (Debt vs. Equity)
    1. Ratios
    2. Capital market
    3. Cash flows statement
  • Perform Cost-Volume-Profit and Break-even Analysis
    1. Assumptions
    2. Cost-Volume-Profit (CVP)
    3. Break-even
  • Apply Standard and Activity Based Costing (ABC)
    1. Pricing
    2. Cost
  • Prepare a budget forecast
    1. Horizon and market condition : scenarios
    2. Historical data and extrapolation
    3. Excel functions
    4. Reporting
  • Execute budgetary control
    1. Objectives
    2. Controls
    3. Assessments and adjustments

Facilitator

Messaoud AbdaMessaoud Abda, CFE, CGA, CICA, CSI, MBA, FICB is an experienced senior corporate manager and instructor with over 20 years of experience in various sectors of the financial market. Mr. Abda has extensive experience in finance and accounting with large Canadian corporations, including Caisse de depôt et placement du Québec and Hydro-Québec. Messaoud is currently a lecturer at McGill University School of Continuing Studies, as well as professor and program manager at Université de Sherbrooke.

 


Cancellation Policy

All cancellation & substitution requests must be made in writing. The following Cancellation Policy applies:

Up to 14 days prior to the start date: Full refund
7 days prior to the start date: Refund minus $100 Cancellation fee
Within 7 days of the start date: No Refund, however suitable participation substitution will be permitted

If no notice is given prior to the start of the event(s) and you fail to attend, you will be liable for the full course fee.

McGill SCS reserves the right to cancel an event up to 5 days prior to its start.


Contact Information

Telephone: 514-398-5454
E-mail: pd [dot] conted [at] mcgill [dot] ca