Effective Budget Forecasting

Effective Budget Forecasting:

Raising the challenge of the 21st century by implementing a dynamic approach to forecasting and planning 8th – 10th December 2009 | Prince Hotel, Kuala Lumpur

Summary Financial Planning is a continuous process that flows with strategic decision-making. The Operating Plan and the Financial Plan will both support the Strategic Plan. The best place to start in preparing a budget is with sales since this is a driving force behind much of our financial activity. However, we have to take into account numerous factors before we can finalize our budgets. Budgeting should be flexible, allowing modification when something changes. For example, the following will impact budgeting: • Life cycle of the business • Financial conditions of the business • General economic conditions • Competitive situation • Technology trends • Availability of resources Budgeting should be both top down and bottom up; i.e. upper level management and middle level management will both work to finalize a budget. We can streamline the budgeting process by developing a financial model. Financial models can facilitate “what if” analysis so we can assess decisions before they are made. This can dramatically improve the budgeting process. One of the biggest challenges within financial planning and budgeting is how do we make it value-added. Budgeting requires clear channels of communication, support from upper-level management, participation from various personnel, and predictive characteristics. Budgeting should not strive for accuracy, but should strive to support the decision making process. If we focus too much on accuracy, we will end-up with a budgeting process that incurs time and costs in excess of the benefits derived. The challenge is to make financial planning a value- added activity that helps the organization achieve its strategic goals and objectives.

Why You Cannot Miss This Event? As businesses began to turn their attention from implementing their 2009 plans to formulating new ones for 2010 especially when the global financial turbulence has prolonged the recovery mode for all businesses across the region. Due to an increasingly competitive and volatile environment, many businesses recognise that it is common to face the financial stumbling blocks at some point particularly when budget is the biggest constraint. Therefore it is crucial that they make use of effective financial tools, techniques and approaches to deliver cost-effective solutions. Of all these, an efficient and effective budgeting systems are the most common and widely used management tool for planning and control. However, many businesses suffer from poorly constructed budgeting and financial processes that stifle achievement and result in frustration or discouragement. Some companies also acknowledge that their budgets are too rigid, unresponsive, bureaucratic and add little value to their performance. This highly interactive course is designed to teach you how to create a more meaningful budget, and how to use this budget to more effectively make important business decisions. Throughout the programme, you will identify effective methods for translating your organisation’s strategic initiatives into measurable financial performance. Now that you are in charge – what’s next? Are you 100% clear about the strategic direction of your department / organisation (and your target companies)? How and where is it going?

evolution mind power asia

Effective Budget Forecasting:

Raising the challenge of the 21st century by implementing a dynamic approach to forecasting and planning 8th – 10th December 2009 | Prince Hotel, Kuala Lumpur

Speaker Profile Rohan

Badenhorst Executive Partner at 3resource LLP, ACMA, Financial & Strategic Business Partner Specialists, Cambridge, United Kingdom is a Chartered Management Accountant, Managing Successful Programmes™ and Independent Tax Practitioner currently living and working in the United Kingdom. In his creative moments he describes himself as a Design Accountant or Behavioral Profit Mechanic. He was educated both in South Africa and the United Kingdom and has spent several years working and consulting in Saudi Arabia and the United Kingdom. He prefers to deliver his consulting assignments

by embedding himself in an organization, serving as an interim financial specialist. By adopting this ‘embedding strategy’ he believes that it is possible to get to the core of organizational change and thereby drive efficiency and effectiveness, at the same time fostering a healthier climate of collaboration and trust between the consultant and the client organization’s employees and managers. Clients have included Unilever Arabia, Arabian Stores Company, Binzagr CoRo, the Intercontinental Hotels group, Nuffield Health and Travelex. His experience covers diverse sectors including Commerce & Industry, Not-for- profit and Financial Services organizations, enabling him to effectively benchmark best practice across a wide range of different enterprises. He has guest lectured at the European Business School and written and delivered a conference paper at the 8th International Conference on Corporate Governance entitled “In search of the Market Soul”. He is an alumni at Henley Business School. He serves on the ‘Interim Management Special Interest Group’ committee of the Institute of Chartered Accountants in England and Wales and served as Centre Correspondent for the Chartered Institute of Management Accountants (CIMA) in Saudi Arabia. He is a registered Member in Practice with CIMA in the UK and delivers both consulting and financial back office solutions to clients and professional practice groups via 3resource LLP, where he is an “Executive Partner."


Fanuel Dewever, Founder & Managing Director of 83 Degrees South, has more than 12 years of international experience gained in some of the world’s leading corporate organisations such as IBM, PricewaterhouseCoopers & Accenture. As solution oriented consultant, coach and trainer, Mr. Dewever served customers including blue chip clients, public sector organisations and innovative SMEs. Clients engagements include the European Commission, KPMG, La Poste, Unilever and Schering-Plough. Mr. Dewever highly appreciates working with a dynamic & ambitious international team. His key areas of expertise include technology consulting, business analytics, project & programme management, process & performance improvement, change management, and business transformation. He also has deep hands-on experience with Strategy & Innovation, Collaborative Workplaces, eLearning, Knowledge Management, IT strategies, and corporate venture development. He is member of the European Learning Industry Group (ELIG), The International Society for Professional Innovation Managers (ISPIM) and Information Systems Audit and Control Association (ISACA). Through his involvement in several European and local expert groups he provides decision makers with policy advice on human capital development, innovation management and regional development. Fanuel Dewever holds university degrees in Organizational and Managerial Informatics (1998) and in Applied Economics (with majors in Marketing and Informatics, 1999), both from the Brussels University (VUB). In April 2007 he started an executive MBA programme at Henley Management College (UK). He is acknowledged for his contributions to two books and is the author of several articles and papers.

evolution mind power asia

Effective Budget Forecasting:

Raising the challenge of the 21st century by implementing a dynamic approach to forecasting and planning 8th – 10th December 2009 | Prince Hotel, Kuala Lumpur

In just 3 days you will be able to • Evaluate strategic directions and capabilities of the organization

• Perform

in-depth financial planning and performance management • Benchmark on effective budgeting & forecasting tools by leading companies

• Critical review of the budgeting processes • Examine a range of techniques to improve your budget model

• Align the budgeting & forecasting function to your

Semi-customized Learning To ensure a personalized learning for you at this workshop, upon registration, you will be given a pre-course questionnaire where you can detail your exact learning objectives. Our course trainer will analyze your learning needs & tailor the workshop to address the issues that you have raised. We would recommend that you complete the form with detailed input and at the soonest time to ensure appropriate & relevant customization of the workshop with your needs in mind.

business goals

• Understand different forecasting methods to lead to an efficient planning

Who Should Attend? CFO’s, Chief Operating Officers, Directors, Business Units & Departmental Managers, Managers, Controllers, Advisors and Heads of: • Finance • Corp Finance • Corp Planning • Strategic Planning • Budgeting & Control • Planning & Control • Business Planning • Strategic Business Unit • Performance Management • Sales and Marketing Managers • Purchasing • Business Development • Accounts • Brand Management • Product Planning

Special BONUS This semi-customized MasterClass will not only provide 3 days intensive learning experience but also an additional 3 Months action plan or consultation with Rohan Badenhorst and Fanuel Dewever on any MasterClass related will be provided to EMP Asia’s clients for FREE.

Strategic Partner

Participants are required to bring a laptop for the workshop

evolution mind power asia

Effective Budget Forecasting:

Raising the challenge of the 21st century by implementing a dynamic approach to forecasting and planning 8th – 10th December 2009 | Prince Hotel, Kuala Lumpur

Topics Day 1 How critical is good financial information • Managing a company in this volatile business environment • Bridging the gap between Finance, Accounting and Other departments • Tracking the life cycle of a company • Translating strategic plans to business plans Monitoring business performance against budgets • Monitoring and measuring variance analysis • Interpreting results • Identifying cost saving opportunities • Phasing expenditure to help cash flow • Developing and tracking Key Performance Indicators (KPIs) Transforming the budgeting & planning process • Zero-based budgeting • Detail and completeness • Activity Base Management & budgeting • Budgeting and planning techniques

Day 2

Day 3 Recognizing the best budgeting techniques • Forecasting Methods • Break-even Analysis • Use of Standards • Trend Analysis • Cost Estimation • Project Budgeting • Business Analytics Managing your costs throughout the budgeting and forecasting process • Scrutinizing cost: direct & indirect cost base • Effectively managing cost control to make the forecasting process efficient • Integrating new costs and cost savings into the budget • Implementing a cost reduction exercise Budget consolidation as a strategy enabler • Forecasting your business ecosystem’s budgeting plan • Summarising and analysing your businesses budget effort • Formulating the action plan

Implementing budget forecasting • Understanding forecasting and how to implement them • Understanding the concept of rolling forecasts • Differentiating between budgeting and forecasting Going beyond conventional budgeting • Exploring the conventional budgeting process: Theory Vs Reality • Shortcomings of budgets prepared • Analysing budget variances and gaps • Testing assumptions used in preparing the budget Identifying the right measurement guideline • Development of the long-range vision • Focusing the Vision • Creation of Definable, Measurable Objectives • Development of the Key Performance Indicator Matrix • Identification of required activities, resources, and consumption rates

Programme Time 0830 0845 1015 1030 1300 1400 1600 1615 1730

–1015 –1030 –1300 –1400 –1600 –1615 –1700



Registration & welcome coffee Masterclass Begins Coffee Break Masterclass Resumes Lunch Break Masterclass Resumes Coffee Break Masterclass Resumes Masterclass Ends

evolution mind power asia