Financial Budgeting & Forecasting Masterclass

A budget is a financial plan for a specific period, usually prepared for a financial year. It covers all financial aspects for the future period right from revenue, costs, expenses, profits, assets, liabilities, and cash flows. The budget is more of an estimate and the target set by the management for future performance. The budget is the expected performance and the same will be tracked against the actual performance and the gaps will be monitored by the management. There are two types of budgeting – Operational budgeting and Capital budgeting.

You will be learning the following topics in this Online Financial Budgeting Course.

Budgeting and Forecasting: Beginner Level: This part covers the budgeting and forecasting techniques from basics. You will be able to understand the budgeting process and the various concepts in that. This session will help you to develop the budget in line with the organization’s goals.

• Introduction to budgeting and forecasting.
• Costing concepts – Master budget; Costing concepts; Direct and Indirect cost concepts.
• Cost behavior – Overhead allocation; Cost behavior; Fixed and variable cost concepts.
• Contribution – Cost volume profit model with examples.
• Statement – Forecasting techniques and budgeting techniques; Preparation of Financials; Balance sheet; Income statement; Cash flow statement.
• Case studies
• Monitoring – Budget monitoring and control.
• Run rate – Run rate and MYF; Dynamic market; Behavioral and Ethical aspects.