Budgeting and Forecasting Using Advanced Excel2019-12-09T07:47:32+00:00

Budgeting and Forecasting Using Advanced Excel Program in Dubai

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

Budgeting in-line with Strategic Framework

  • How the budgets are used as a strategic tool to align the company’s objectives
  • Understand and evaluate the financial and non-finance drivers of the budgeting process

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
    • 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

  • 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

Overview of the Advanced Excel Features Used in Budgeting Process

Setting up the Budget Canvas

  • Create a smart budget template to be used in the end-to-end budgeting process
  • Linking plan of different budgets’ component to the master budget
  • Relative and absolute cell referencing to error-proof the whole budget

Essential Financial Functions in Excel to be Used in Budgets

  • Logical functions to compare the budget vs actual outputs
  • Finance functions (NPV, PMT, IRR etc.) for capital budgeting
  • Variance Analysis and waterfall-chart for variance impact analysis using Advanced Excel
  • Scenario analysis in Budgeting using the specific Excel functions including Goal Seek and Solver
  • Redraft the budgeted income statement using Solver tool in excel and create multiple scenarios dynamically
  • Analyzing the budgeted outputs using Pivot Tables

Forecasting Techniques in Excel

  • Simple Regression Analysis to analyse the impact of cost elements on revenue (e.g. selling expenses vs sales, promotion vs advertising on sales etc.)
  • Multiple Regression Analysis to analyse the impact of multiple independent variables on a dependent variable

Budgeted KPI Dashboard

  • How to create a dashboard for budgeted vs actual indicators
  • Dynamic chart updates and advanced filters and slices


  • Budgeting beyond excel
  • Coherence of all different budgeting elements
  • Sharing the budgets across the organization in a secure formatted file structure

Mr. Mirza Farrukh Baig,
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.

Farrukh is a power-user of Ms. Excel for last 20 years. He has developed numerous financial models and budgeting templates for many organization in the region.

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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