Financial Data Analysis Using Mathematical Statistical Methods

This workshop will feature:

  • Understanding the definition, purpose and components of a budget
  • Operating budget vs. capital budget
  • Addressing issues and challenges when dealing with assumptions and targets
  • Obtaining tips, guidelines and recommendations for developing and presenting your budget
  • Performing a variance analysis and identifying potential sources and causes

Description

Being responsible for the budgeting means you’re playing a vital role in your organization’s future. Your budget enables you to pinpoint critical variables that impact profit so your company can successfully pursue business goals and create value.

In this workshop, you will learn how to work with, develop and present budgets aligned with business strategic goals. Working in groups, you’ll gather the information you need to construct and analyse operating budgets. With course material constructed to make this subject more accessible to participants with a non-financial background, you’ll practice evaluating and revising your budget to increase its chances of acceptance. This is your opportunity to gain the tools and insights to craft the budget your company needs to overcome obstacles and achieve success.

This workshop will feature:

  • Understanding the definition, purpose and components of a budget
  • Operating budget vs. capital budget
  • Addressing issues and challenges when dealing with assumptions and targets
  • Obtaining tips, guidelines and recommendations for developing and presenting your budget
  • Performing a variance analysis and identifying potential sources and causes

What are the Goals?

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

  • Accurately develop an operating budget based on forecasted sales, revenues and costs
  • Work with a well-planned budget that clearly highlights crucial variables that impact profit
  • Know the line items on the income statement, their metrics and interdependencies
  • Develop high-level and alternative strategies to help your company reach specific goals
  • Define variances so you can quickly implement changes to meet your company’s financial objectives
  • Develop and present a well-thought-out budget that will get buy-in
  • Effectively use your budget to provide strategic direction and a blueprint for the upcoming year

Who is this Workshop for?

This workshop is suitable to a wide range of professionals but will greatly benefit:

  • Executives
  • Group leaders
  • Project managers
  • Program managers
  • Department heads
  • Others who wish to develop a toolkit to assist them with the budget process

How will this Workshop be Presented?

This workshop combines theory and practice. We use company examples to illustrate how the techniques presented have been applied in real case studies. The purpose is to use a mix of proven learning techniques to ensure maximum understanding, comprehension and retention of the information presented.

The Course Content

DAY 1 – Budgeting: Principles and Key Concepts

  • Understanding the context for budgeting
  • The benefit of Budgeting and its role for achieving organizational targets
  • The shortcomings of the budgeting process. How to improve them?
  • Principles of budgeting
  • Main issues with budget preparation
  • Capex (capital expenditures) vs Opex (operational expenditures)

DAY 2 – Cost Analysis for Budgetary Purposes

  • Cost concepts and terminology
  • Different costs for different purposes
  • Fixed vs. Variable costs: the Cost-Volume-Profit analysis model
  • Contribution Margin analysis
  • Manufacturing vs. non-manufacturing costs
  • Period vs. Product costs

DAY 3 – The Forecasting Process

  • Determine the purpose and objective of the forecast
  • Statistical analytical tools
  • Quantitative analysis and forecasting
  • Forecasting techniques
  • Causal analysis models – regression analysis
  • Using Excel ® to analyse historical data

Chat with us
Chat with us
Have you got question? We're here to help you!
Connecting...
None of our operators are available at the moment. Please, try again later.
Our operators are busy. Please try again later
Thank you for visiting St Andrews Management Centre our team are happy to help!
:
:
This chat session has ended