Cambridge
Academy
In London

Course Duration: Five Training Days

Course Language: English

Include:

-Scientific material with TAB

-Workshops

-Reception and farewell at the airport

Introduction:

This training course aims to empower participants with a comprehensive understanding of financial planning processes and budgeting, while also enhancing their skills in financial analysis and internal control. The course covers modern methods in financial forecasting and planning in uncertain environments and focuses on the practical applications of preparing various types of budgets in both the public and private sectors. This will support effective financial decision-making and optimize the use of resources.

Target Audience:

• Financial managers and accountants
• Professionals working in financial planning and budgeting departments
• Financial controllers and internal auditors
• Employees in government entities responsible for preparing public budgets
• Department heads and supervisors seeking to enhance their financial competencies
• Professionals aiming to acquire advanced skills in planning and financial analysis

Course Objectives:

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

1. Discuss modern approaches to financial forecasting and planning in uncertain environments
2. Apply quantitative tools effectively in planning and budgeting
3. Prepare different types of budgets (operational, cash, and capital)
4. Use computing tools and statistical analysis techniques for budget preparation
5. Implement electronic control over the execution of financial budgets
6. Distinguish between fixed and flexible budgets and apply them in practice

Course Content:

Unit 1: Fundamentals and Types of Budgets

• Definition and functions of budgeting
• Budget cycle stages
• Approaches to budget preparation
• Distinguishing between goals, objectives, and purposes
• Practical examples on the starting point of budget preparation
• Types of budgets and their interrelationships

Unit 2: Budget Preparation Stages and Revenue/Activity Estimations

• Data preparation for budget estimation
• Key governing factors in budget formulation
• Internal and external data sources and their characteristics
• Forecasting methods for revenues and expenses
• Use of computers for revenue budgeting (Simple Regression)
• Practical case studies for preparing revenue and activity budgets

Unit 3: General Framework for Budget Forecasting

• Objectives and principles of forecast budgeting
• Stages and influencing factors in budget preparation
• Constraints and challenges in preparing budgets
• Role of financial forecasting in budgeting
• Diverse case studies applying forecasting principles
• Approaches to preparing budgets in different contexts

Unit 4: Cost Control and Practical Applications

• Dimensions of cost control
• Modern methods for cost control
• Practical applications of cost control techniques
• Relationship between creative planning and cost control
• Financial indicators used for performance evaluation
• Developing an effective control system based on KPIs

Unit 5: Government Budgets and Modern Preparation Techniques

• Principles and overview of the national general budget
• Estimations and cycle of the public budget
• Preparing program and performance budgets and zero-based budgets
• Requirements for applying modern methods in government budgeting
• Techniques for rationalizing and controlling public spending
• Practical training cases on government budget preparation