Budgeting and Forecasting 2 Credits
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Sep 04, 2024 | 12:30 PM
ET
Budgeting and forecasting are very important aspects of business planning.
Budgets are the vehicle for allocating resources and measuring the success of selected strategies. An organization’s strategy is the primary driver of costs. To be effective, the budget must be linked to strategy and long-term plans. Numerous organizations have achieved a series of short-term targets (budgets) but failed longer term; demonstrating the lack of this necessary linkage. Forecasting, a critical part of any successful budgeting process, can be flawed by technical errors and/or structure/emotional forces. The establishment of a system to collect, process, and analyze Big Data can provide significant insights into the budgeting and forecasting process.
Good budgets effectively allocate resources and provide information for decision-making and an early warning system for unforeseen events. A poor budgeting process provides a false sense of security, inappropriate or inaccurate data, and re-enforces the status quo.
If budgeting and forecasting are done right, it can help you understand and plan, Where to get revenue from? What sort of resources do you need in business? When do you need to get the resources? What marketing activities you would need?
We have included a practical example from our live class to demonstrate the process of business planning. The business is a start-up business however it will help you understand Concepts of how to prepare a budget from the bottom-up approach for any business. In this Webinar, we will explore practical aspects of budgeting and forecasting.
Key Topics Covered:
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Energetic, ambitious and Result-oriented professional, offering +15 years of extensive experience in Management, operations, Finance, Audit, Risk management, marketing and Customer experience.
Manish has hands-on experience in Monthly Reporting and Pnl Analysis, Budgeting and strategic planning.
Passionate for learning and development, thinking in innovative and non-traditional ways, Manish is your business partner for growth.
Manish is experienced with leading projects for change. He has led ERP implementation for 16 hotels in Htoo Group.
Manish is focused, display positive attitude and Topline growth approach towards business problems. He believes in efficiencies and lean management.
He is also on his Entrepreneurial journey and founded https://ehotelmanagementschool.com for sharing knowledge and experience via online classes and sessions. Startup also help small hotels and other startups with finance and management consulting.
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Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
VK
Thank you for clear presentation on various components of Budgeting and Forecasting. I can now use this to educate the functional leaders of other departments in setting up next year's Budget.
RK
In this Budgeting & Forecasting, you will get knowledge about basis of Budgeting relevant aspect like Environmental, Annually basis and Forecasting related aspect.
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