26 - 30 May 2025
Kuala Lumpur (Malaysia)
Hotel : Royale Chulan Kuala Lumpur
Cost : 5250 € Euro
Budgeting is a fundamental skill for managing finances, both in personal and professional environments. This course will equip participants with comprehensive knowledge and practical skills for effective budgeting, financial planning, and control. The program covers everything from basic budgeting concepts to advanced techniques for forecasting, variance analysis, and strategic financial planning.
Finance professionals
Business managers and decision-makers
Entrepreneurs and business owners
Anyone involved in budgeting, financial planning, and cost management
Understand the principles and processes of budgeting.
Develop and manage budgets effectively for various types of organizations.
Analyze variances between actual and budgeted performance.
Apply forecasting techniques and financial planning tools.
Make informed decisions based on financial data.
Implement effective budgeting strategies for both short-term and long-term financial goals.
Day 1: Introduction to Budgeting
Session 1: The Importance of Budgeting
Definition and Purpose
Types of Budgets (Operating, Capital, Cash, and Master Budgets)
Role of Budgeting in Financial Management
Session 2: Budgeting Process
Steps in Creating a Budget
Establishing Budget Objectives
Aligning Budgets with Organizational Strategy
Session 3: Financial Statements Review
Understanding Key Financial Statements (Income Statement, Balance Sheet, Cash Flow Statement)
Budgeting Based on Financial Data
Workshop: Creating a Basic Operating Budget
Day 2: Budget Preparation and Forecasting
Session 1: Budget Preparation Techniques
Zero-Based Budgeting
Activity-Based Budgeting
Incremental Budgeting
Session 2: Forecasting in Budgeting
Definition and Importance of Forecasting
Techniques for Accurate Forecasting (Historical Data, Trend Analysis)
Creating Sales and Revenue Forecasts
Session 3: Budgeting for Capital Expenditure
Identifying and Categorizing Capital Investments
Capital Budgeting Techniques (Payback Period, Net Present Value, Internal Rate of Return)
Case Study: Developing a Capital Expenditure Budget
Day 3: Budget Control and Monitoring
Session 1: Implementing Budgetary Control
Monitoring and Managing Budget Performance
Tools and Techniques for Budget Control (Variance Analysis, Cost-Volume-Profit Analysis)
Session 2: Variance Analysis
Understanding Variances (Favorable and Unfavorable)
Analyzing Variances in Revenues, Costs, and Profits
Corrective Measures for Budget Deviations
Session 3: Flexible Budgets
Benefits of Flexible Budgets
Creating and Managing a Flexible Budget
Exercise: Performing Variance Analysis
Day 4: Advanced Budgeting Techniques
Session 1: Rolling Budgets
Benefits of Rolling Budgets
Developing Rolling Forecasts
Adjusting for Changing Business Conditions
Session 2: Budgeting for Uncertainty
Risk Management in Budgeting
Scenario Planning and Sensitivity Analysis
Managing Financial Risks
Session 3: Long-Term Financial Planning
Linking Budgets to Strategic Plans
Forecasting Long-Term Revenues and Costs
Budgeting for Growth and Expansion
Workshop: Developing a Rolling Budget
Day 5: Strategic Budgeting and Decision Making
Session 1: Strategic Budgeting
Aligning Budgets with Corporate Strategy
Using Budgets for Competitive Advantage
Session 2: Budgeting and Decision-Making
Using Financial Data for Strategic Decisions
Case Studies in Financial Decision-Making
Session 3: Budget Reporting and Communication
Creating Effective Budget Reports
Presenting Budget Data to Stakeholders
Communicating Financial Performance