Introduction:

The course "Financial Forecasting, Budgeting, and Financial Reporting" is designed to provide participants with comprehensive knowledge of the budgeting process and the importance of budgeting in managerial decision-making. It also aims to analyze issues related to performance measurement and quality. Participants will learn how to make budgeting a value-added activity and overcome obstacles during the budget creation process. This course equips participants with practical skills in applying various forecasting techniques and the latest practices in budgeting. It also enables them to develop forecasting models and estimated financial statements.

This course will present the best and latest practices for participants to explore a wide range of financial forecasting methods and budgeting methodologies. It blends academic knowledge with practical application in business practices, allowing participants to understand these tools and their role in decision-making within their organizations efficiently and effectively. The course also aims to develop participants' skills in contributing effectively to the preparation of various budget estimates by applying advanced techniques in the forecasting process and adopting best practices in budget preparation and execution.

Course Objectives:

By the end of the course, participants will be able to:

Discuss modern methods in financial forecasting under conditions of uncertainty and information ambiguity.

Acquire the skill of preparing plans and translating them into budgets and achieving the desired goals.

Use ratios and financial analysis to interpret financial data and understand the financial position of the company.

Create budget models for their departments and organizations.

Apply various forecasting techniques to manage uncertainty in budgets more effectively.

Evaluate capital budgeting decisions using various methods and choose the most appropriate course of action.

Utilize Microsoft Excel tools in the budgeting process.

Evaluate the budgeting process in organizations and recommend improvements.

Develop skills in scientific methods for preparing planning budgets as a tool for planning, monitoring, and control.

Accurately assess results and achievements and predict financial difficulties.

Explain the role of planning and three-dimensional budgeting in control.

Discuss modern methods in financial forecasting and financial planning under conditions of uncertainty and information ambiguity.

Training Methodology:

This course includes a practical workshop where participants use financial forecasting and budgeting techniques presented through Microsoft Excel. The workshop involves various exercises and case studies.

Target Audience:

Financial and accounting managers, analysts, finance managers, accounting managers, supervisors, and financial professionals needing to interpret and analyze financial data for forecasting and financial expectations in their organizations.

Program Content:

Financial Applications Using Computers:

Properties and features of Excel software.

Basic functions and specialized functions of Excel.

Practical cases for designing some financial models.

Relationships between financial models and linking them.

Forecasting Techniques:

Qualitative models:

- Market research methodology.

- Delphi technique.

Quantitative models.

Causal models:

- Standard economic models.

- Regression analysis: simple and multiple.

- Correlation coefficient and determination coefficient.

Time series methodologies:

- Simple average.

- Moving average.

- Exponential smoothing.

- Expected value.

Modeling Expected Financial Data:

Partial and total factors.

Sales forecasting:

- Estimating market demand.

- Estimating company demand.

- Setting sales forecasts.

Cost of sales forecasting.

Operating expense forecasting.

Forecasting key asset and liability accounts.

Modeling income statement forecasts.

Modeling general budget forecasts.

Modern Standards for Forecasting in Planning Using Computers:

The role of forecasting in preparing plans and budgets.

Factors influencing forecasting.

Areas of forecasting and modern mathematical forecasting methods.

Using linear regression analysis in forecasting.

Using trend analysis in forecasting.

Applying modern methods of forecasting using computers.

Nature of Planning Budgets:

Concept and importance of budgets.

General principles of budget preparation.

Steps in budget preparation.

Types of planning budgets.

Budget for the administrative apparatus of the state.

Budget for economic entities.

Budget for private companies.

Financial Techniques for Preparing Operating Budgets Using Computers:

Preparing revenue budgets (collections) in government and private units.

Modern forecasting methods for revenue and expenditure.

Integrated business case to prepare revenue budgets in government and private units.

Preparing expense budgets (expenditures) in government and private units.

Integrated business case to prepare expense budgets in government and private units.

Using flexible and fixed budgets to evaluate performance and make financial decisions.

Financial Techniques for Preparing Cash Budgets Using Computers:

Concept and importance of cash budgeting.

Relationship between cash budgeting and other budgets.

Modern forecasting methods for predicting liquidity.

Liquidity management in light of the cash budget and cases of technical and real financial difficulties.

Cash indicators related to the cash budget.

Integrated business case for preparing the cash budget in government and private units.