Budgeting, Forecasting and Strategic Planning

Overview

People are commonly promoted to management or given a budget for the first time with no explanation. The purpose of this course is to explain the purpose of the budget process, its limitations and how it should be linked to the organisation’s strategy. Current forecasting tools and techniques are explained including their benefits and how to create value in any organisation.

Topics covered

This short course shows how forecasting and budgeting are interlinked with strategic planning. Firstly, the rationale behind forecasting and its techniques are introduced, as well as common pitfalls. Secondly, the traditional budget process is outlined along with common problems and behaviours, and more importantly, how to work through these issues.

• Preparing budgets and analysing variances.
• An introduction to strategic tools that link strategy to financial reality through the budget process.
• The value of forecasting in optimising business performance.
• Risk management is a crucial consideration in business decision making.

Outcomes

You will:

• Link strategy to financial reality.
• Learn how to build and manage better budgets – both operational and capital.
• Apply best practice forecasting tools.

Your organisation will:

• Get more value from the budget process.
• Eliminate waste by clearly aligning the strategy with reality.
• Improve risk management.

What participants say

“The facilitator was very knowledgeable , experienced and very engaging. She placed a strong focus on group discussions and case studies. I highly recommend this course.”
Rob Creagh – Manager @ Manawanui –in Charge

"The facilitator has an amazing financial knowledge and delivered information that kept your interest the whole time. I really enjoyed the course."
Helen Aird - MVP Manager @ PPG Industries New Zealand

Who should attend

• New managers, or any person about to be appointed into a management position with budget responsibility.
• Any person responsible for preparing, analysing, or managing budgets.
• Managers who want to reengineer the budget process and ensure it is optimised for value creation.
• If you have ever questioned the value of the traditional budgeting process.

Note: Business Forecasting, Budgeting and Strategic Planning is more practical than the 'Finance for Non-Financial Managers' short course with a stronger focus on management accounting rather than financial accounting.

Your organisation may be eligible to use a Capability Development Voucher through the NZTE Regional Business Partner Network on this course. Follow this link to find out more www.exec.auckland.ac.nz/nzte 

This course may qualify as a continuing professional development (CPD) activity.  Please check with your professional body.