Centre for Continuing Education

Budgets and Forecasts Course for Organisations

Finance. Boost your financial know-how.

Manage finance the smart way with Finance courses at the University of Sydney.

Learn how to budget and forecast for your organisation. This budgeting and forecasting 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. Students will build a project budget and understand the drivers of project financial evaluation methods.

This budgeting and forecasting course will include:

  • How organisations use budgetsand the framework of an organization-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.
  • Project budgets, financial evaluation methods of projects.

Aims

This course aims to:

  1. Build your knowledge of budgeting and forecasting terminology and concepts.
  2. Equip you with forecasting skills, using Excel, as a precursor to setting a budget.
  3. Demonstrate alternative ways of setting an organisational budget once forecasts have been generated.
  4. Explain how to set and manage a project budget.
  5. Show you how to calculate and interpret variances once a budget is set, with a view to initiating corrective action where needed.

Outcomes

Upon successful completion of this course, participants should be able to:

  1. Generate forecasts using a range of techniques, and incorporating these into building a budget.
  2. Prepare both a project-based and organisational-wide budget.
  3. Monitor and manage a budget by correcting for variances.
  4. Financially evaluate the payback on a capital investment using Net Present Value and Internal Rate of Return.
  5. Communicate effectively financial support staff through use of appropriate forecasting and budgeting terminology and concepts.

Content

This budgets and forecasts course will include the following 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 organization-wide budget.
  • Setting an organisational-wide budget.
  • Measuring budget effectiveness – variance analysis.
  • Financial evaluation of project (Payback, basic Net Present Value and Internal Rate of Return).

Intended Audience

This course is suitable for anyone needing to set and manage a budget for an operational unit. This could be for a profit centre, cost centre or in setting an expense budget.

This budgeting and forecasting course is designed for participants with basic finance knowledge. This is NOT an Excel course, it will assist students if they are familiar with simple formulas in Excel. Course work is designed to include practical work examples using case studies, and students will work to complete basic mathematic budget calculations. Representation of key concepts will be demonstrated in Excel and student will receive a copy of all Excel modelling demonstrated. Please ensure you bring a calculator.

Delivery Style

This budgets and forecasts course for organisations is delivered as hands-on, computer-based training with demonstration of live examples and group discussion.

Features

  • Expert trainers
  • Central locations
  • Small class sizes
  • Free, expert advice
  • Student materials – yours to keep
  • Statement of completion

What others say.

  • A good course to join the dots with the technical aspects of my job.

  • Really good course – quick yet thorough. I enjoyed the practical application and the tutor was great.

  • Facility and services were both excellent. Tutor delivery was relaxed, articulate and to the point.

  • The presenter had excellent teaching skills. Their methodology was excellent, reinforcing concepts and pitching to the needs of the group. Obviously knew their subject.

Enrol Now
There are 5 places available
Budgets and Forecasts Course for Organisations
University of Sydney (Venue TBA)
$526 GST free

Course added to cart.

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Enrol Now
There are places available
Budgets and Forecasts Course for Organisations
University of Sydney (Venue TBA)
$526 GST free

Course added to cart.

Proceed to Checkout Close this message
Enrol Now
There are places available
Budgets and Forecasts Course for Organisations
University of Sydney (Venue TBA)
$526 GST free

Course added to cart.

Proceed to Checkout Close this message
Enrol Now
There are places available
Budgets and Forecasts Course for Organisations
University of Sydney (Venue TBA)
$526 GST free

Course added to cart.

Proceed to Checkout Close this message
Enrol Now
There are places available
Budgets and Forecasts Course for Organisations
University of Sydney (Venue TBA)
$526 GST free

Course added to cart.

Proceed to Checkout Close this message
Enrol Now
There are places available
If there isn't a class to suit you, please join the waiting list.