Forecasting and Budgeting Course

Finance courses in Sydney. Develop your understanding of the functions of finance.

Learn Finance with Finance courses in Sydney – short courses created for you by the University of Newcastle.

This forecasting and budgeting course will equip you with the most up-to-date forecasting and budgeting skills for any organisation, whether it be in the commercial, public or Non-For-Profit sector. In this forecasting and budgeting course you will learn how to implement forecasting techniques using a range of statistical methods. You will learn how to prepare accurate budgets by applying robust forecasting techniques. This forecasting and budgeting course will enable you to set budgets for cost centres, profit centres, departments, operating units of any size and indeed, for entire organisation so as to mitigate the financial risk from poor planning.

Learning Outcomes

At the completion of this forecasting and budgeting course you should be able to:

  1. Forecast using techniques that are deemed current best practice.
  2. Forecast using a range of statistical methods.
  3. Identify relevant components within historical data for making a forecast.
  4. Set a budget using robust forecasting techniques.
  5. Develop a budget for each of the financial statements – Profit & Loss Statement, Balance Sheet, Cash Flow Statement.
  6. Develop budgets for cost centres and profit centres.
  7. Develop budgets for departments and organisations.
  8. Calculate and interpret variances for taking corrective action.
  9. Identifying the cause for unfavourable variances.
  10. Project cash flow levels to mitigate financial risk.
  11. Determine the financial viability of making a capital investment based on project income flows.
  12. Understand how to calculate an internal rate of return from a capital investment.

Course Content

This forecasting and budgeting course will cover the following content:

  • How to interpret financial statements.
  • Common forecasting techniques.
  • More advanced statistical forecasting techniques.
  • How to translate a forecast into a budget.
  • Budgeting a profit & loss statement, balance sheet and cash flow statement.
  • The different levels of budgeting – cost centres, profit centres, departmental budgeting and setting a budget for an organisation overall.
  • Calculating variances.
  • Interpreting variances with a view towards taking corrective action.
  • Calculating projected cash flows from a project.
  • Evaluating the Net Present Value of cash flows from a project to assess the viability of the project.
  • Determining the Internal Rate of Return from a capital project.
  • Deciding whether to proceed with a capital investment based on its Internal Rate of Return.

Intended Audience

This forecasting and budgeting course is suitable for aspiring managers and executives who do not have an accounting and finance background. This forecasting and budgeting course has been designed for professionals from diverse sectors who are seeking to better understand their organisation’s financial situation. This is with a view to setting a realistic financial framework and financial targets for future operations.

For those who are looking for a concentrated overview of Finance and Accounting, you may be interested in our Finance and Accounting Course for the Non-Accountant.

Delivery Style

This forecasting and budgeting course will be delivered as an interactive workshop consisting of an instructor lead lecture, group and individual activities. This training approach allows participants to work through concepts introduced by the instructor in an application-focused teaching environment. Participants will challenge their understanding of the concepts and consider their application once back in their individual workplace.

Course Prerequisites

This forecasting and budgeting course has no prerequisites and is open to all members of the public.

Course Features

Available course dates

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