Training course on Financial Forecasting and Budgeting

Module 1: Introduction to Forecasting and Budgeting

Importance of financial planning in organizations

Forecasting vs. budgeting: key distinctions and linkages

Common challenges and pitfalls

Module 2: Forecasting Techniques

Qualitative methods: Delphi, expert judgment, market research

Quantitative methods: time series analysis, regression, econometric models

Selecting appropriate forecasting methods

Module 3: Building Financial Forecasts

Revenue forecasting models

Expense and cash flow forecasting

Forecasting working capital and capital expenditure

Module 4: Budgeting Fundamentals

Types of budgets: operational, capital, flexible, zero-based

Linking budgets to strategic objectives

Budget preparation process and best practices

Module 5: Advanced Budgeting Approaches

Rolling forecasts and continuous budgeting

Activity-based budgeting (ABB) and zero-based budgeting (ZBB)

Beyond budgeting: agile approaches in dynamic environments

Module 6: Variance Analysis and Performance Management

Tools for variance analysis

Identifying root causes of deviations

Using KPIs and dashboards for monitoring performance

Module 7: Scenario Planning and Risk Analysis

Sensitivity analysis and “what-if” modeling

Incorporating uncertainty and risk into forecasts

Case study: forecasting under economic volatility

Module 8: Technology and Tools for Forecasting and Budgeting

Excel best practices for forecasting and budgeting

Introduction to financial planning software (e.g., SAP BPC, Oracle Hyperion, Anaplan)

Data visualization for communicating forecasts and budgets

Module 9: Practical Applications and Case Studies

Case study: corporate budgeting in a multinational organization

Workshop: building a 3-year financial forecast in Excel

Simulation: preparing and defending a departmental budget