Class Details
Budgets and Forecasts Course for Organisations
Course summary
Learn how to budget and forecast for your organisation. This training course is designed to provide financial skills to non-financial managers and staff; you will learn budgeting, project budgeting and financial evaluations.
The aim of this finance course is to provide a practical understanding of the workings of organisational budgets with the use of a budget framework. Participants will build a project budget and understand the drivers of project financial evaluation methods.
This budgeting and forecasting course will include:
- how organisations use budgets and the framework of an organisation-wide budget as a strategic planning tool
- structure of a master budget; breaking it down to sales, operations, overheads budgets and the alignment to profit and loss and cash flow
- highlighting the data sources and functionality of Excel as a budgeting tool.
Aims
This course aims to:
- build your knowledge of budgeting and forecasting terminology and concepts
- equip you with forecasting skills, using Excel, as a precursor to setting a budget
- demonstrate alternative ways of setting an organisational budget once forecasts have been generated
- explain how to set and manage a project budget
- show you how to calculate and interpret variances once a budget is set, with a view to initiating corrective action where needed.
Learning outcomes
By the end of this course, you should be able to:
- generate forecasts using a range of techniques, and incorporating these into building a budget
- prepare both a project-based and organisation-wide budget
- monitor and manage a budget by correcting for variances
- communicate effectively financial support staff through use of appropriate forecasting and budgeting terminology and concepts.
Content
- Budgeting and forecast theory, terminology and process
- Profit and Loss (P&L), balance sheet and cash flow budget
- Data sources and forecasting concepts, including history, market conditions and Delphi method
- Factors impacting on a budget – market conditions, internal forces, cyclical and seasonal trends
- Framework for an organisation-wide budget
- Setting an organisation-wide budget
- Measuring budget effectiveness – variance analysis
Who this course is for
Suitable for anyone needing to set and manage a budget for an operational unit and designed for operational managers tasked with forecasting and budgeting. This could be for a profit centre, cost centre, or in setting an expense budget.
Prerequisites
Designed for people with basic finance knowledge. This is not an Excel course; it will assist you if you are familiar with simple formulas in Excel. Course work is designed to include practical work examples using case studies, and you will work to complete basic mathematic budget calculations. Representation of key concepts will be demonstrated in Excel and students will receive a copy of all Excel modelling demonstrated.
Delivery modes
- Face-to-face, presenter-taught training in a computer lab
- Online training via the platform Zoom
Face-to-face classes
Classes run in a computer lab. You do not need to bring your own device.
Online classes
You need your own device. For the best experience, we recommend using a computer with a large monitor or dual screens/devices. Small laptop screens can make it difficult to follow the facilitator’s display while working in the software.
Materials
Course materials are shared electronically.
What you need to do before the course
To participate in this course, you will need Microsoft Excel installed on your device.
Sessions
Location
Online via Zoom
Other information
Our online via Zoom courses are interactive and delivered in real-time. You will have the chance to ask questions and join in activities, just as you would in any in-person class.
Our facilitators are well versed in Zoom delivery and will skillfully guide you in your online learning journey.
Instructions regarding how to connect to online classes will be sent to participants about 4 days before the class commences.
Meet the facilitators
Jeremy Khoh
Jeremy Khoh is a keynote speaker and facilitator who equips teams with practical, future-ready skills for a rapidly changing business world.
In an era where human-centred skills are as critical as technical expertise, Jeremy works at exactly this intersection. He is a Chartered Accountant (B.Bus Acct/Fin, GradDip CA), a Certified DISC Practitioner, a Certified Fearless Organization Practitioner (Psychological Safety Index), and a Certified Leadership Circle Practitioner.
Recognised as a LinkedIn Top Voice, he has also lectured at UNSW in Future of Work Project and Organisational Resources.
Jeremy combines the latest research with commercial experience gained at KPMG, Arnott’s and as Regional Head of Finance at Kelsen Group in Hong Kong. He has delivered engaging sessions internationally across finance, FMCG, professional services, education, government, and not-for-profit.
