Introduction to Financial Planning, Forecasting and Budgeting

Target Audience: Experienced Auditors and Accountants (3-10 years)

Overall Objective:

Equip auditors and accountants with the fundamental knowledge and skills to understand and perform basic financial planning, forecasting and budgeting.

Program Objectives:

●     Define and Enhance understanding of key financial planning & forecasting (FP&F) concepts.

●     Explain the importance of financial planning for businesses: budgeting, profitability analysis and decision making.

●     Identify the steps involved in creating a financial plan: setting goals, forecasting future performance and evaluate results.

●     Understanding the purpose of financial forecasting: predicting future financial performance and identifying potential risks and opportunities.

●     Describe different forecasting methods: sales forecasting, expense forecasting and capital expenditure forecasting.

●     Learn how to communicate and present Financial Forecasting and Budgeting to stakeholders.

●     The importance of tracking the company’s progress and making the adjustments needed in the right time.

●     The importance of having a reliable financial planning and budgeting system that reflects the impact of the rapid changes and crises in the international market on the financial position of the company.

Program Outline:

●     Introduction to Financial Planning Concepts

○     What is financial planning? Explaining key concepts of financial planning

o Role of Financial Planning in corporate decision-making. Explain the importance of financial planning for businesses.

●     Explaining steps of Financial Planning

o Identify the steps involved in creating a financial plan.