Introduction to Budgeting & Forecasting
- Overview of the principles and importance of budgeting and forecasting in financial management, setting the stage for the seminar.
Budgeting Purposes and Process
- Explains why organisations budget, the objectives behind budgeting, and the step-by-step process involved.
Budgeting and the Financial Reporting Regime
- Discusses how budgeting aligns with financial reporting standards and regulatory requirements.
Budget Instructions & Objectives
- Covers how to set clear instructions and objectives for the budgeting process, including defining short-term and long-term goals.
Short-Term Goals (within 12 months)
- Focuses on setting and achieving financial targets within a one-year period, ensuring immediate operational needs are met.
Long-Term Goals (1–5 years)
- Addresses strategic financial planning for sustained growth and stability over several years.
Methods of Gathering Data
- Introduces techniques for collecting reliable financial data to inform budgeting and forecasting decisions.
The Budgeting Approach, Process & Constraints
- Explores different approaches to budgeting, the workflow, and common constraints or challenges faced.
Budgeting Sales: Illustration & Operating Profit
- Provides practical examples of budgeting for sales and calculating operating profit, using real-world scenarios.
Compound Annual Growth Rate (CAGR)
- Explains how to calculate and use CAGR for projecting financial growth over time.
Financial Modelling with Generative AI
- Demonstrates how Generative AI can enhance financial modelling, making forecasts more accurate and efficient.
Using Linear Regression Models to Project Sales
- Teaches the application of linear regression models, powered by AI, to predict future sales trends.
Common Budget Problems & Mistakes
- Identifies frequent issues and errors in budgeting, helping participants avoid costly pitfalls.
Best Practices
- Shares proven strategies and techniques for successful budgeting and forecasting.
