Budgeting And Forecasting
‘Budgeting and forecasting’ is a 1-day training module designed to familiarize the participants with the role of a well-designed budget and importance of making well informed forecasts. The program discusses the implementation of budgeting and forecasting concepts to ensure timely goal achievement and profitability.
The aim of the program is to give managers a thorough understanding of budgeting and forecasting principles for their successfully application in the enterprise.
This course is conducted using a combination of lectures, discussions, and practical exercises. Reading material is also provided for further study.
Learning Outcomes Include:
Upon completion of this course, participants shall be able to:
- Identify the benefits of budgets
- Discuss the importance of the process of budgeting and forecasting
- Explain the use of trend analysis/historical data for making informed forecasts
- Use budgets to control the business activities
- Explain how departmental budgets work together to develop the master budget
- Identify principles to effectively apply budgets in enterprises
- Discuss the need to stay aligned with forecasted numbers