Budgeting And Forecasting For Business Professionals

Fully revised and updated for 2013

Budgeting And Forecasting For Business Professionals Drive improved business performance and maximise your opportunities to achieve business critical strategic objectives 22 – 25 December 2013 • Jumeirah Emirates Towers Hotel, Dubai, UAE

5 Key Learning Objectives 1.

Understand how budgeting and forecasting influence business strategy

2.

Acquire the knowledge necessary to actively participate in business planning, budgeting and forecasting based on an understanding of the key objectives and techniques

3.

Formulate business decisions based on your ability to effectively extrapolate data within a changing market environment

4.

Improve business performance by utilising appropriate budgeting and forecasting techniques

5.

Adopt effective methods to continuously measure business performance

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Organised by:

Delegates are to bring their own laptops loaded with MS-EXCEL

Strategic Career Partner:

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Budgeting And Forecasting For Business Professionals 22 – 25 December 2013 • Jumeirah Emirates Towers Hotel, Dubai, UAE Course Introduction

Meet Your Expert Course Director Peter Hofmann is an Executive Director of MFX Options and Solutions (Pty) Ltd, specialising in business management and corporate strategic and operational management consulting.

The platform for his current business focus was established through his exposure to the holistic corporate business environment where he built a successful career over two decades, having established and built up successful departments focused on operational and executive management and board liaison.

His integral involvement with projects undertaken by MFX have been for a range of international clients including: • Strategic business plans, functional plans and processes, supply chain management, strategic planning and ERP process analysis for implementation of ERP systems • The development and implementation of performance strategies for business units, comprising of individual projects – SAP HR, finance, supervisory development, internal communications systems and procedures • Development of five-year strategies on an annual basis, customer surveys and measurement, business unit strategies and electronic customer-focused marketing campaigns • Undertaking detailed internal process reviews to assist in the development of budgeting and forecasting systems

The impacts of the global influences that have plagued world economies following global market turmoil in the later part of 2008 still continue to be felt by many organisations. Fundamental changes in consumer spending patterns and continued concern in major markets related to economic stability impacts on how organisations plan, budget and forecast to ensure their ability to remain sustainable and retain their competitive positioning. This presents various issues and challenges for the managers within each business, both from the customer and organisational perspective. Organisations with management teams that have a good understanding of the key drivers for successfully achieving strategic objectives succeed in driving higher levels of business performance, which in turn equates to improved returns for all stakeholders. Budgeting and forecasting are key tools used by organisations to support business strategies – and a key understanding amongst organisational managers of financial aspects relevant to budgeting and forecasting is becoming a prerequisite to ensure that decisions related to the various facets of business operations are focused on business survival, expansion and value creation.

The Budgeting And Forecasting For Business Professionals course will help demystify the world of budgeting and forecasting, and provide you with the techniques and confidence to manage and control your areas of responsibility effectively. Financial terms and budgeting tools will be explained in a way that is understandable to non-financial people and enable them to relate these to their areas of responsibility. You will gain a practical knowledge of basic accounts which will support your confidence levels in preparing budgets that benefit your organisations. The course will provide you with the basis to apply this information within your business environment to achieve the results you need.

The course will also guide you in designing effective models to formulate, monitor and report on budgets and forecasts for your organisation and teach you how to improve organisational performance through an understanding of key topics including:

• The development of financial and budgeting models to improve business efficiencies and effectiveness

• The role and principles of budgeting

Who Should Attend?

• The use of budgeting techniques

The course will be useful for:

• Strategic analysis and how this impacts on the budgeting and forecasting processes

• Non finance executives at various functional divisions responsible for developing and presenting budgets • Finance executives and support staff responsible for collating and consolidating them into a budget

• How performance management systems can be linked to the budgeting and forecasting processes • Relevant financial terminology and the basics of financial reporting • Enhancing budgeting and forecasting using financial ratio analysis

Would you like to run this course in-house?

• The ability to analyse and challenge financial information • The dynamics of organisational costs • Determining the breakeven points for key outputs • Capital expenditure budgeting and decision making

The in-house training division of IIR Middle East Tel: +971 4 407 2624 • Email: CTS@iirme.com www.iirme.com/cts

+971 4 335 2437

+971 4 335 2438

• The preparation of detailed forecasts using different sources of information • Evaluation of actual performance • Using forecasting as a performance measurement tool

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Course Timings Registration will be at 07:30 on Day One. The course will commence promptly at 08:00 every day and finish at 14:30.There will be breaks for refreshments at approximately 10:30 and 12:30 and lunch will be served at the end of each day’s session

Day One

Day Three

Budgeting And Forecasting And The Link To The Organisational Strategy

Establish An Understanding Of The Budgeting And Forecasting Process And Key Approaches Used

Organisational Strategy • Vision and mission • Strategic objectives • Organisational values • Developing strategy

The Budgeting Process Principles Of Budgeting

Linking Budgets To The Organisational Strategy • The Balanced Scorecard • Financial perspective – creating value for stakeholders • Customer perspective – creating value for customers • Internal process perspective – how are internal processes influenced by stakeholder expectations • Learning and growth perspective – how do we improve the way we do things by aligning our people, systems and business culture

Group Exercise Linking budgets to organisational strategic objectives

Group Exercise Analysing financial reports to support budgeting decision making processes

Day Two Understand The Dynamics Of Organisational Costs And How They Influence The Budgeting And Forecasting Process Financial Perspective – Understanding The Basics Of Financial Ratio Analysis And How It Is Used To Enhance Budgets And Forecasts • Profitability ratios • Liquidity ratios • Activity/efficiency ratios • Gearing ratios • How ratios can be used to enhance the budgeting and forecasting process

Group Exercise Applying ratio analysis to determine how budgets are influenced Analysing The Various Types Of Costs • Fixed costs • Variable costs • Production costs • Overhead costs

Financial Budgets • Income and expenditure budgets • Capital budgets Capital Budgets • Criteria for capital budgeting decisions • The concept of Weighted Average Cost of Capital (WACC) • The time value of money • Cost-benefit analysis • Opportunity costing

Group Exercise Applying cost-benefit analysis to support capital budgeting decision making Group Exercise Decision making in capital budgeting

Day Four Establish An Understanding Of Key Budgeting And Forecasting Techniques And Building Models To Support The Process Budgeting Techniques • Income and expenditure budgets • Incremental budgets • Zero-based budgeting • Beyond budgeting

Group Exercise Establishing a zero-based budget

Understanding How Various Types Of Costs Influence Cost Analysis • Cost volume profit relationships • The breakeven analysis model • Variance analysis

Group Exercise Applying breakeven analysis to determine how budgets are influenced Working Capital • What is working capital?

• The working capital cycle • How working capital influences the budgeting and forecasting process

+971 4 335 2438

Group Exercise Analysing various aspects of the business to support integrated budgeting The Relationship Between Operating Budgets And Financial Budgets

Financial Perspective – Understanding The Basic Financial Reports • Statement of financial position (Balance sheet) • Income statement • Statement of changes in equity • Statement of cash flows • Understanding the difference between profit and cash flow

+971 4 335 2437

Types Of Budgets • Sales budgets • Production budgets • Marketing budgets • Project budgets • Expenditure budgets • Revenue budgets • Cash flow budgets

Forecasting • Sources of information to support forecasting • Evaluating actual results against forecasts to support strategic decision making • Using forecasting as a performance measurement tool • Monitoring and reporting

Group Exercise Prepare a forecast based on a comprehensive case study Budget Modelling • Effective model design • Reducing errors

Group Exercise Building a detailed budget model based on a comprehensive case study

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Budgeting And Forecasting For Business Professionals

22 – 25 December 2013 Jumeirah Emirates Towers Hotel, Dubai, UAE

FIVE WAYS TO REGISTER IIR Holdings Ltd. P.O Box 21743 Dubai, UAE

+971 4 335 2437 +971 4 335 2438 register@iirme.com

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DISCOUNTS AVAILABLE FOR 2 OR MORE PEOPLE CALL – +971 4 335 2483 E-MAIL – a.watts@iirme.com WEB BC4903 Event

Course Fee Before 24 March 2013

Course Fee Before 14 April 2013

Final Fee

US$ 3,895

US$ 4,395

US$ 4,695

Budgeting And Forecasting For Business Professionals

WOULD YOU LIKE TO RUN THIS COURSE INͳHOUSE?

22 – 25 December 2013 Course fees include documentation, luncheon and refreshments. Delegates who attend all sessions will receive a Certificate of Attendance.

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A confirmation letter and invoice will be sent upon receipt of your registration. Please note that full payment must be received prior to the event. Only those delegates whose fees have been paid in full will be admitted to the event. You can pay by company cheques or bankers draft in Dirhams or US$. Please note that all US$ cheques and drafts should be drawn on a New York bank and an extra amount of US$ 6 per payment should be added to cover bank clearing charges. In any event payment must be received not later than 48 hours before the Event. Entry to the Event may be refused if payment in full is not received.

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Cancellation If you are unable to attend, a substitute delegate will be welcome in your place. Registrations cancelled more than 7 days before the Event are subject to a $200 administration charge.

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Due to unforeseen circumstances, the programme may change and IIR reserves the right to alter the venue and/or speakers.

Event Venue: Jumeirah Emirates Towers Hotel, Dubai, UAE Tel: +971 4 330 0000 Accommodation Details We highly recommend you secure your room reservation at the earliest to avoid last minute inconvenience. You can contact the IIR Hospitality Desk for assistance on: Tel: +971 4 407 2693 Fax: +971 4 4072517 Email: hospitality@iirme.com © Copyright I.I.R. HOLDINGS B.V.

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