Course Objectives

• Offering participants the cognitive and intellectual support of modern concepts of forecasting, financial strategic planning and the preparing of estimated budgets.
• Enabling participants to acquire the practical skills of the analysis of balance sheet items and how to forecast the estimated budget based on strategic plans and corporate leadership objectives.
• Enabling participants to acquire the skills of preparing operational budgets, disbursements and annual expected revenues and how to ascertain the credibility of forecasts.
• Familiarize participants with practical situations and applications that will enable them to efficiently and effectively prepare sound estimated budgets.

Who Should Attend?

• Heads of financial sectors, financial managers and their assistants, financial analysts and heads of auditing, oversight and internal or external review sectors, directors of the departments of production and main services in enterprises, directors of the projects managers, marketing, sales, human resources and all personnel who will be in charge of preparing a estimated budget for a specific regulatory and administrative area or sector, branch managers, and those who are prepared and rehabilitated to take over the aforementioned positions, and those who wish to develop their skills in the field.

Course Schedule

Objectives, foundations and principles of  the preparation of estimated  budgets

• Foundations and principles for the preparation of estimated budgets.
• The objectives and types of estimated budgets.
• Relationship of the strategic plan to estimated budgets.
• Estimated budget components.
• Strategic planning and financial strategic plan.
• Relationship of the strategic plan to estimated budgets.
• Using estimated budgets in planning.
• Cost elements and their relationship to the estimated budgets.

Financial forecasting and balancing expenses and expenses

• Cash and in-kind balance.
• The list of envisaged financial status.
• Investment or capital expenditure.
• Analyzing and planning of expenses.
• Short-term investment decisions.
• Long-term investment decisions.

Preparing capital and operational budgets

• The stages of decision-making in capital budgets.
• Expected cash flows.
• Risk analysis in capital budgets.
• Creating units and sections for the preparation of estimated budgets.
• Estimated budgets preparing system.

Building Annual Operational budgets

• Balancing sales and balancing production.
• Balancing material requirements.
• Balancing procurement.
• Balancing wages.
• Balancing of the sales expenses.
• Balancing administrative and public expenses.
• Estimated income list.
• List of estimated financial position.

The role of estimated  budgets in performance control

• Internal control system.
• Operational control and financial control.
• Using of estimated budgets to control delivery.
• How to compare actual performance with estimated budgets and identify deviations.
• Accountability and decentralization.
• Performance evaluation and continuous improvement.