An Intensive 5-day Training Course

Budgeting, Forecasting and
the Planning Process

Integrated Approach to Financial Planning

INTRODUCTION TO THE COURSE

The Budgeting, Forecasting, and the Planning Process training course equips professionals with the foundational knowledge and practical tools necessary to implement high-performing strategic planning, forecasting, and budgeting systems. Strategic planning serves as a long-term roadmap guiding an organisation’s efforts to fulfill its overarching goals. This training course empowers participants to create a comprehensive structure that effectively connects strategic objectives to annual budgets and operational targets, aiming to enhance overall performance and managerial effectiveness.

Budgets, in contrast, provide the short-term financial framework that supports the execution of long-term strategies. Delegates will explore how to prepare and manage budgets that act as financial plans, and how to use budgetary controls and variance analysis to identify and improve financial performance.

Key areas of focus include:

  • Integration of strategic planning with forecasting and budgeting
  • Practical use of Excel and other tools to support financial projections
  • Evaluating the effects of financing options and risk on financial planning
  • Application of both traditional and modern costing methods in budgeting
  • Implementation of best practices in operational and capital budgeting, and cash flow forecasting

COURSE DETAILS

Objectives Icon

OBJECTIVES

By the conclusion of this Budgeting, Forecasting, and the Planning Process training course, participants will be able to:

  • Enhance strategic thinking and align budgeting processes with long-term planning
  • Choose and apply the most suitable forecasting methods for their organisation
  • Understand key financial principles, including shareholder value, cash flow, risk, and the time value of money
  • Recognise cost behavior patterns and select appropriate costing systems for planning and control
  • Develop comprehensive operating, capital, and cash budgets aligned with strategic business goals
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TRAINING METHODOLOGY

This Budgeting, Forecasting, and the Planning Process training course will combine the presentation of analytical techniques, examples and case studies. Relevant worked examples will illustrate the learning points and tools and techniques in a real-world environment. Group discussion will promote exchange of experiences and ideas.

The interactive team case studies and exercises will reinforce the application of topics covered. These are supported with the help and advice of your Instructor and his extensive practical experience and knowledge of strategic planning, forecasting and budgeting. Difficult mathematical concepts are minimised wherever possible and handled in a visual way that is easy to understand – our aim is for this to be an enjoyable learning experience.

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ORGANISATIONAL IMPACT

Organisations will benefit from the enhanced capabilities of their team members in the following ways:

  • Improved alignment between strategic financial planning and budgeting processes
  • More accurate forecasting and risk assessment to guide business decisions
  • Better-informed capital structuring and financing strategies
  • Enhanced implementation of modern planning and cost control systems
  • Robust investment evaluation and capital budgeting practices
  • Stronger integration between financial planning and enterprise performance
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PERSONAL IMPACT

Attendees will significantly enhance their own competencies in planning and budgeting, including:

  • Strategic analysis and the development of long-term financial plans using tools like the Balanced Scorecard
  • Application of qualitative and quantitative forecasting techniques, and evaluation of financial risk
  • Understanding cost behavior using Absorption and Marginal Costing, CVP analysis, and Activity-Based Costing
  • Preparation and management of operating and cash budgets, including the use of ABB, flexed budgets, and variance analysis
  • Assessment of different financing methods and optimisation of capital structures using metrics such as WACC
  • Application of discounted cash flow methods such as NPV, IRR, MIRR, EAC, and PI for evaluating capital investment projects
Target Audience Icon

WHO SHOULD ATTEND?

This KC Academy Budgeting, Forecasting, and the Planning Process training course is designed to be suitable for anyone involved in budgeting and planning in companies, corporations, and governmental, education, and health service organisations. It is equally valuable for those working in finance and accounting, costing, and treasury departments, and all other financial and non-financial professionals who have budget responsibility or are involved in the planning process, for example:

  • Line Managers
  • Project Managers
  • Professional Advisers and consultants who would like to further develop their strategic thinking and decision-making, and refresh and update their skill sets relating to planning, forecasting and budgeting, and their linkages

DAILY AGENDA

Day 1: Strategic Management and Financing
  • Strategic Analysis, Strategic choices and evaluation, and Strategic implementation
  • The Links between Strategy, Forecasting, Planning, Budgeting, Performance Measurement
  • Strategic capability and avoiding the Spiral of Death
  • Shareholder Wealth maximisation, Corporate and Shareholder value creation
  • Financial Strategy, Dividend Policy, the Agency Problem and Corporate Governance
  • Long-term Financing
    • Debt and Equity; Cost of Equity using Dividend Growth and Capital Asset Pricing Model (CAPM); Cost of Debt; Weighted Average Cost of Capital (WACC)
  • Capital Structure Optimisation Models to minimise WACC
  • Using Strategy Maps to link strategies to Performance Measurement: The Balanced Scorecard
Day 2: Financial Planning, Forecasting, and Risk Analysis
  • The Financial Planning Process and Modelling using Excel
  • Statistical Forecasting Tools and Techniques
    • Time series; moving averages; exponential smoothing; Pareto Analysis; trend progression; linear regression; correlation
  • Forecasting long- and short-term sales revenues, and sales pricing
    • Porter’s generic strategy of cost leadership and differentiation; Bowman’s strategy clock; full cost pricing; marginal cost pricing; target cost pricing; life-cycle costing; kaizen costing; value-based pricing
  • Using Excel for Optimum Product mix decisions
  • Short-term Financing, Working Capital, and the Cash Operating Cycle
  • Direct and Indirect Cash Flow Analysis and Cash Flow Forecasting using Excel
  • Uncertainty and Risk
    • Business Risk
    • Financial Risk
    • Systematic Risk
    • Unsystematic Risk
  • The Choices available to minimise and mitigate risk
Day 3: Cost Analysis Techniques
  • Cost Behaviour and Activities
  • Fixed and Variable Costs, Direct and Indirect Costs
  • Product Costs and Period Costs
  • Cost Allocation and Absorption of Overheads
  • Absorption or Full Costing
  • Marginal Costing
  • Cost-Volume-Profit (CVP) and ‘what-if’ analysis using Excel
  • Activity Based Costing (ABC) and Activity Based Management (ABM)
Day 4: Budgeting, Budgetary Control and Performance Improvement
  • To Budget or Not – Purposes and Reasons for Budgets
  • Stages in the Budget Preparation Process
  • Preparation of the Master Budget
  • Activity Based Budgeting (ABB)
  • Responsibility Accounting and Variance Analysis
    • Standard costing; flexed budgets; budgetary control to measure organisational and management performance
  • Advantages, Disadvantages and Behavioural Aspects of Budgeting
  • The Conflict between Performance Improvement and the Costing System
  • Lean thinking and integrating continuous performance improvement into the Budget Process
Day 5: Project Appraisal and Capital Budgeting
  • The Time Value of Money
  • Future Values
  • Present Values
  • Discounted Cash Flow (DCF)
  • Capital investment Project Appraisal
    • Accounting Rate of Return (ARR); payback; Net Present Value (NPV); Internal Rate of Return (IRR); Modified Internal Rate of Return (MIRR); Discounted Payback; Equivalent Annual Cost (EAC)
  • Project Risk
    • Sensitivity Analysis; simulation; scenario analysis; NPV break-even
  • Capital Rationing
  • Capital Budgeting and the Profitability Index (PI)
Objectives Icon

Certificate

On successful completion of this training course, KC ACademy Certificate will be awarded to the delegates.

THIS TRAINING COURSE IS ALSO PART OF THE 10-DAY TITLES:

CLASSROOM

Financial Analysis, Modelling, Forecasting & Budgeting Planning

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