Accounting and Finance

Advanced Budgeting Workshop

Why Attend

A sizable share of a company's working capital is tied up in Accounts Receivable (AR) and this poses a high liquidity risk. In this course, we expand your knowledge and expertise in AR. This will enable you and your organization to manage your accounts receivable effectively without compromising your credit sales.

Course Methodology

This course demonstrates theoretical and practical core topics in addition to introducing Excel in managing accounts receivable. The course also features role playing and presentations by participants.

Course Objectives

By the end of the course, participants will be able to:
  • Develop effective credit policies that meet a company’s objectives
  • Use billing best practices techniques
  • Employ effective collection policies
  • Partner with the sales force for the benefit of the company
  • Evaluate the accounts receivable process and implement best practices
  • Apply tools and techniques to effectively monitor AR performance

Target Audience

Accounts receivable department managers, credit managers, AR staff, AR and revenue accountants, credit officers, billing and collection clerks, AR specialists, and professionals in accounting, finance, operations and sales who interact with the accounts receivable and credit department.

Target Competencies

  • Managing accounts receivable effectively
  • Understanding the implications of credit decision and policy
  • Performing accounts receivable analysis
  • Analyzing different collection techniques
  • Adopting efficient billing techniques
  • Preparing accounts receivable aging report
  • Monetizing accounts receivable
  • Utilizing Excel functions
Advanced Budgeting Workshop

Course Outline

  • Budgeting and planning
    • The budget and the functions of management
    • Budget as a planning tool
    • Budgets and the key financial statements
    • The top-down versus bottom-up process
  • Budget cycle, process and approaches
    • The budget cycle
    • Characteristics of successful budgeting
    • Making the budget a value-adding activity
    • Top ten problems with budgeting
    • Choosing the proper budgeting approach:
      • Incremental budgeting
      • Zero-based budgeting
      • Flexible budgeting
      • Kaizen budgeting
      • Activity based budgeting
      • Rolling (continuous) budgets and forecasts
    • The master budget and its components
    • Operating and capital budgets
    • Best practices in budgeting
    • Creating a user friendly budget template
  • Forecasting techniques
    • Forecasting models
    • Qualitative and quantitative methods
    • Steps in developing forecasting models
    • Time series and trend analysis
    • Data conditioning techniques
    • Exponential smoothing and moving averages
    • Simple and multiple regression analysis
  • Advanced capital budgeting evaluation techniques
    • Business risk and cost of capital
    • Classifying investment projects
    • Cash flow estimation
    • Analyzing investment and operating cash flows
    • The time value of money concept
    • The required rate of return
    • Net Present Value (NPV)
    • Internal Rate of Return (IRR)
    • Multiple internal rates of return
    • Modified Internal Rate of Return (MIRR)
    • Profitability Index (PI)
    • Payback period and discounted payback period
    • Capital rationing
    • Comparing and evaluating techniques
    • Sensitivity and risk analysis
  • Breakeven analysis and optimization techniques
    • Cost Volume Profit (CVP) analysis
    • Using CVP to reach a target income
    • Single product and multiple products breakeven analysis
    • Working with budget constraints
    • Building optimization models
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