Effective Financial Planning, Forecasting and Budgeting2019-07-23T06:48:48+00:00

Effective Financial Planning & Budgeting Training Program

As many organizations have recognized over the past year, costs are certainly not a constant factor. Although it is not possible to predict fluctuations in variable costs it is important to review trends and determine if certain costs are unnecessary.

Take Aways

  1. Contribute effectively to the budgeting and
    forecasting of future plans of your department
    as well the organization
  2. Learn the budget planning processes, preparation, review control and modern day tools for budgeting and variance analysis..
  3. Discover and leverage on the different types of budgeting techniques that can be used in organizations.
  4. Insights into defining the “uncertainties” that affect companies’ ability to produce accurate budgets, and quantify this with stress-testing, what-if and scenario analysis techniques.
  5. Understand how to build budgets for the “real world”, allowing for flexibility and future change

Master Budget & Responsibility Accounting

    • Budgets and the Budgeting Cycle
    • Why Budget?
    • Strategic Plans and Operating Plans
    • Coordination and Communication
    • Framework for Judging Performance and Facilitating

Organization Structure and Responsibility

    • Responsibility and Controllability
    • Human Aspects of Budgeting
      1. Top-Down Versus Participatory Budgeting
      2. Budgetary Slack
    • Budgeting in Multinational Companies

Types of Budgeting

    • Short-Term Versus Long-Term Budgets
    • Fixed Versus Rolling Budgets
    • Incremental Versus Zero-Based Budgeting
    • Kaizen Budgeting
    • Master Budget
    • Tips for Setting Assumptions

Flexible Budgets & Control

    • Static Budgets and Variances
    • The Use of Variances
    • Static Budgets and Static-Budget Variances
    • Flexible-Budget Variances and Sales-Volume Variances
    • Sales-Volume Variances
    • Flexible-Budget Variances
    • Price Variances and Efficiency Variances for Direct-Cost Inputs
    • Obtaining Budgeted Input Prices and Budgeted Input Quantities
  • Cost-Behavior Patterns: Variable Costs and Fixed Costs
  • Cost Drivers

Cash Budgeting

    • Receipts & Discemments
    • Collection and Payments

Sensitivity Analysis

    • Capacity Levels
    • Additional finds requirement
    • Exception Growth
    • Understanding Asset Turnover

Capital Budgeting & Analysis I

  • Stages of Capital Budgeting
  • Discounted Cash Flow
  • Net Present Value Method
  • Internal Rate-of-Return Method
  • What to Rely NPV of IRR

Capital Budgeting & Analysis II

    • Payback Method
    • Uniform Cash Flows
    • Non-Uniform Cash Flows
    • Categories of Cash Flows
    • Customer Value and Capital Budgeting

Mr. Mirza Farrukh Baig,
FCA
Harvard Trained | CEO Lynchpin Group | Lead VAT Trainer & Consultant

Mirza Farrukh Baig-Harvard Trained, is one of our Decorated & Talented Trainer and Instructional Designer for Finance, Accounting, Risk Management training courses at Lynchpin Training. With him on the training venue, we guarantee the best style of delivery, team engagement, the energy level of the class and the WOW experience by your team is assured.

Mirza Farrukh Baig is a qualified Chartered Accountant and a career banker. He has over fifteen years of experience teaching CMA, ACCA, CFA and CA students. He is also the lead corporate trainer at Lynchpin delivering specialized training on Finance and Accounting He has served for eight years in a leading commercial bank in UAE where he was instrumental in strengthening the SME credit risk unit. Apart from approval of banking facilities for SME clients. He played an instrumental role in developing and implementing the SME credit risk policy of the bank.

Currently, he is the CEO of Lynchpin Training & Consulting and Chief Consultant for VAT
Advisory, Consulting & Implementation. Farrukh carries extensive experience in dealing
indirect taxes both for the UK and South Asia. Provided VAT (Value Added Tax) consultancy
services with due care, experience, resources, and exposure to tax regimes.

Farrukh is an associate member of the Institute of Chartered Accountant of Pakistan (ICAP).
He has been awarded a gold medal for outstanding performance in his CA final examination,
by ICAP. He also went to Harvard Business School to Executive Entrepreneurship training
program.

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