To understand how forecasting supports strategy and helps drive change. Critically examine some of the problems associated with conventional budgeting and consider the benefits of flexible rolling forecasts.
What will be covered?
- Why do we budget?
- Link strategy to operations
- Control and improvement
- Are budgets doing what we need them to do?
- Issue of accountability
- Game playing
- Link of targets to bonus
- Problems of top down ‘v’ bottom up budgets
- Stretch targets and base targets
- Understanding the difference between rolling forecast and budgeting
- Why have it, what has to roll?
- Importance of drivers
- Sensitivity analysis
- Using the rolling forecast to inform strategy reviews, manage performance gaps & control
- Practical considerations
- Leadership and communication
- Importance of systems and accountability
Who should attend?
This course is ideal for:
- Company directors
- Senior executives
- Key persons who have to forecast, produce or manage budgets
Outcome and benefits
- Improved understanding of the benefits of rolling forecasts
- Learn how to use your forecast to drive change and implement strategy
Course materials (included)
Delegates receive courseware to refer to throughout the course and as a refresher following the course
There are no pre-requisites for this programme.
Further courses that may be of interest:
- Financial Management for Non-finance Executives: an Overview
- Financial Statements: an Introduction
- Financial Statements: How to Analyse Them
- Management information – what you need and how to get it
- Workshops on the CPD programme – please ask for separate brochure