Budgeting and Forecasting Process, Tools and Techniques

Course Objectives
Objectives of this Budgeting and Forecasting Process, Tools and Techniques course are to ensure that the participants:
• Appreciate the importance of effective budget preparation and financial planning
• Understand Various sources of finance with their utilisation, based on the cost of capital
• Take sound investment decisions based on proper appraisal
• Obtain an overview of the financial statements and management reports to evaluate the company’s performance
• Review key performance analysis applicable to business
• Prepare competitor analysis, market trends, and related explanations for top-level discussions
• Understand cost behaviour and its effect on financial planning
• Assess usage of ERP systems and other budgeting tools
• Understand various types of budgets and use the one most suited to the organization
• Use financial modeling to forecast the profitability and cash flows with sensible assumptions
• Understand the different components of working capital and reduce the operating cycle
• Get equipped to manage and control budgets and forward plans
• Understand the best practice in financial planning and management
Course Outline
INTRODUCTION
• Overall Strategic Plan
• Mission / Vision Statement
• Majority/ Minority Shareholders
• Profitability v/s Liquidity
BUDGET PROCESS AND MANAGEMENT
• Preparation of Master Budget
• Fixed v/s Flexible Budgets
• Quarterly Reviews
• Forward Planning
• Budget/ Actual Comparison
• Zero Based Budgets
BUDGET STATEMENTS
• Balance Sheet
• Profit & Loss Statement
• Statement of Cash Flow
• Budget Assumptions
• Accompanying Notes
WORKING CAPITAL CONTROL
• Inventory Control
• Accounts Receivable
• Accounts Payable
• Reconciliation of Sub-ledgers
• Other Current Assets & Current Liabilities
• Tax and Deferred Taxation
COMPARISON WITH ACTUALS
• Ratio Analysis
• Vertical Balance Sheet & P&L Statement
• Horizontal Balance Sheet & P&L Statement
• Variance Analysis
• Price Variance
• Quantity Variance
• Mix Variance
CAPITAL EXPENDITURE
• Capital Investment Appraisal
• Return on Investment
• Payback Period
• Net Present Value
• Internal Rate of Return
• Lease or Buy Decisions
• Tax Implications thereof
ENTERPRISE RESOURCE PLANNING (ERP)
• Sales
• Bill of Material
• Material Management
• Procurement
• Production
• Finance
OTHER BUDGETING TOOLS
• Vertex 42
• MS Office Budget Templates
• YNAB
• Quicken Budget Calculator

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:

1ST BATCH:        13th – 16th Jan, 2026      

2ND BATCH:       5th – 8th May, 2026

3RD BATCH:       1st – 4th Dec, 2026