financial budgeting and forecasting...

Financial Budgeting and Forecasting for

2014

Financial Budgeting and Forecasting for better cash flow management 1

EBC 2014 © All Rights Reserved

Overview It is important to understand the principal factors required to produce a successful business case.

Developing budgeting & financial skills are required for better decision making. This course gives delegates

the skills to manage departmental budgets, monitor divisional costs and apportion department expenses on

an appropriate basis.

This Course has been specifically developed to assist project and program managers in developing their

financial management skills. This course is organized around the context of a live working corporate

environment and the learners will work their way through the stages of projects in the context of best

practice in corporate financial management. Learners will learn about the financial aspects of projects, from

the initial creation of the project budget and its consolidation into the corporate financial plan, to the re-

forecasting of the budget caused by financial constraints placed upon the projects by the company.

Who Should Attend Professionals in the field of finance and accounting, accountants at all levels seeking to enhance practical

finance and accounting knowledge, certified financial and accounting personnel.

Course Outcomes

By the end of the workshop, participants will be able to:

Demonstrate how the budget relates to the key financial statements: balance sheet, income statement, and cash flows.

Prepare a budget consistent with the organization's strategic plan. Use appropriate estimation techniques in the development of revenue and expense budgets. Identify all the appropriate costs to be included in a capital expenditure proposal. Apply cost control tools, analyze management variance reports and take proper corrective action. Grasp fundamental knowledge of an organization’s cash flow. Identify the different categories of classifying sources and uses of cash flow. Prepare cash flow statements according to the latest accounting standards. Apply ratio analysis to cash flow statements.

Our Approach The course will be structured around case studies, practical examples and exercises.



Course Content:

The Critical Functions of Management Aligning the Budget with the Organization’s Strategy Road Map to Strategy Budget as a Planning Tool Control: The Missing Link Planning Pitfalls

The Accounting System The Income Statement The Balance Sheet The Cash Flow Statement

The Advantages of Budgeting The Budget Process Rolling Budgets The Master Budget Operating and Capital Budgets The Budgeted Financial Statements Approaches to Budgeting:

Incremental Budgeting Zero-Based Budgeting Flexible Budgeting Kaizen Budgeting and Continuous Improvement Activity-Based Budgeting

Tools of Forecasting Direct and Indirect Costs Characteristics of an Effective Budget Problems in Budgeting

Budget as a Control Tool The Control Process Characteristics of an Effective Control System Responsibility Reporting Variance Analysis: Identifying the Components of Variance Variance Analysis: Taking the Corrective Action



Identifying the Fixed Costs and Variable Costs Computing Breakeven Point in Units Computing Breakeven Point in Sales Assumptions of CVP Analysis Using CVP in Budgeting Decisions

Quality of Earnings Ratios Cash Flow Adequacy Ratio Operating Cash Index Depreciation Impact Ratio Reinvestment Ratio

Financial Management Ratios External Financing Ratios Cash Sources Component Percentages Operating Investing Financing

Mandatory Cash Flow Ratios Mandatory Cash Flow Index Long-Term Debt Payment Ratio Percentage of Cash Sources Required for Long-Term Debt Short-Term Ratio Long-Term Ratio

Discretionary Cash Flow Ratios Discretionary Cash Index Dividend Payout of Cash from Operations

Recognizing the Basic Patterns Inherent in Historical Data Using the Exploratory Data Analysis Tools Available in Excel® Development of Time Series Models using histograms, moving averages, exponential smoothing

and regression analysis Using Regression Analysis as a predictor and estimator Mastering the use of Exponential Smoothing as a Data Analysis tool Single Regression vs. Multiple Regression Validation of Time Series Analysis

Basic Structure of All Optimization Models Different Forms and Applications of Optimization Models Developing a Financial Optimization Model Performing Sensitivity Analysis of an Optimization Model Interpreting the Solution of an Optimization Model to a Non-technical Manager



Training Techniques’:

Presentation. Discussions. Exercises. Case Studies.

Language of Instruction

Unless otherwise stated the program instruction is in Standard Day-to-Day English. Participants can

request the instructor to provide a program vocabulary which will ensure they have no problem

understanding the content and can be facilitated a little bit by using Arabic language when necessary.

Duration: 4 Days



Training Facilitator:

Abdul Aziz Othman,

Academic Background

Mr. Abdul Aziz earned a B.A. in finance and economics from American University of Beirut AUB and a dual

M.B.A. in Finance and Professional Accountancy from University of North West London - UK, where he

was awarded academic fellowships in both departments.

Experience Mr. Abdul Aziz is financial advisory expert and executive at Crowe Horwath LLP, a leading CPA and

professional services firm. Mr. Abdul Aziz possesses a unique background combining senior experience in

financial advisory services (securities/business valuation and restructuring consulting) and investment

banking (M&A corporate finance).

Mr. Abdul Aziz has over 10 years of audit and accounting experience and is responsible for the Firm's

Auditing and Accounting practice. Mr. EL Abdul Aziz has extensive experience and knowledge in auditing

and consulting for many government and commercial agencies. He has authored many audit and

accounting courses and has been a frequent speaker and lecturer at many professional organizations. In

2009, Mr. Ahmed was awarded Instructor of the Year for Syria University.

Throughout the past eight years he has been providing training courses as a freelancer; during that period

he had been exposed to different business cultures and norms of the different countries in the ME.

Researches:

How to make a decision between standardization and customization in international firms (2007 UK)

World financial crises (Syria2009)

Quality management in Islamic Banks (Syria 2012)

SME development in Oman (2013Oman)

Language skills

Fluent in spoken and written Arabic, English and French.



Recent Teaching and Public Speaking

Petroleum Project Economics & Decision Making Mastering Finance for Non-Financial Managers in the Petroleum Industry Auditing in the Exploration & Production Industry Budgeting & Cost Control in Petroleum Companies Exploration & Oil Production Accounting Accounting in Petroleum Organizations Financial Control & Analysis for the Oil Industry

International Accounting Standards Modern Financial Management Assets Management Cash Management Recent Trends in Planning & Financial Management Recent Trends in Cash Management & Investment Capital Planning Accounting for Non Accountants Advanced Accounting Modern Accounting Problem Solving & Decision Making Accounting Analyzing & Reporting Company Accounts Financial Reporting Systems Financial Skills for Non-Financial Managers Basics of Finance & Accounting for Non-Financial Managers Modern Financial Accounting

Managerial Cost Accounting Cost Accounting & Productivity Cost Control & Cost Reduction Cost & Management Accounting Labor Cost Accounting Strategic Cost Management Designing & Developing Managerial Cost Information Systems The New Techniques for Management Accounting Cost Reduction & Performance Evaluation in Companies



Internal Auditing & Control Financial Analysis for auditors

Recent Trends in Cash Management & Investment Effective Budgeting & Cost Control Corporate Budgeting Financial Analysis & Budgeting Budgeting Skills for Non-Financial Managers

Conducting Feasibility Studies Feasibility Studies & Project Evaluation



Registration:

Date:

20 April , 2014

Venue:

EBC Training Center , Muscat

Duration:

4 Days

Registration Fees:

OMR 450

Fees Include:

Training Materials ( Soft & Hard Copies )

Coffee Breaks

Course Certificate

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