Introduction:
Planning, Forecasting & Budgeting are 3 of the most important functions in business. Performed properly they can lead to exceptional success. Yet many people do not use the tools available to them to their best advantage. In this course we will leverage the power of Excel to demonstrate how to improve your forecasting, planning, and budgeting. By developing better spreadsheets & models, planning is more accurate, forecasting is more precise & budgeting is more attainable. And the time to develop these is dramatically reduced.
Targeted Competencies:
Budgeting
Building models in Microsoft Excel
Forecasting
Evaluating proposals
Applying Microsoft Excel functions and tools
Assessing budgeting process
Course Objectives:
At the end of this course the participants will be able to:
Understand the various Excel tools available to perform planning, forecasting & budgeting
Perform sophisticated “what-if” scenarios to improve decision making
Know what Excel techniques to use in a given situation
Use the most advanced spreadsheet techniques
Know when to take a chance & when not to
Learn to use & expand a range of Excel models
Develop an improved understanding of how well prepared Excel models to help the corporate in today’s challenging world.
Understand the risks & rewards of various planning decisions
Calculate the impact of alternative inputs on critical outputs
Understand the cost/benefit of every decision
Enhance their knowledge with the use of the models in the case studies
Course Outlines
Day 1: Introduction to Spreadsheets using Excel:
Worksheet fundamentals
Using the F4 key for Relative & Absolute cell references
Expose ALL formulas in a worksheet using the built-in function for faster review
Naming cells & ranges for quicker, more accurate work
Freeze panes, columns & rows for easier viewing while scrolling
Protecting cells & ranges to stabilize models
Function wizard benefits
Linking cells from various worksheets to reduce errors
Secret keyboard shortcuts
Day 2: Proper Planning:
Introduction to planning
What-if analysis:
Scenario analysis techniques
Sensitivity analysis using spinners & scroll bars
Economic Order Quantity (EOQ)
Build out Data tables to see an entire range of options
1-way Data tables
2-way Data tables
Maximizing vs. optimizing techniques
Utilizing The Goal Seek command to calculate a reverse equation
Using Solver to calculate optimal product mix, distribution problems & capital budgeting
Day 3: Fantastic Forecasting:
What is forecasting?
Qualitative techniques & their uses
Quantitative techniques & their uses
Smoothing techniques
Regression analysis
Time series analysis
Forecasting growth rates for verification
Internal (IGR)
Sustainable (SGR)
MIN and MAX functions
MEDIAN, MODE & AVERAGE functions
GEOMEAN to calculate Average Growth Rate (AGR)
When to use RANK, QUARTILE & PERCENTILE
Day 4: Beyond Budgeting:
What is a budget?
How to build a simple budget
Build a Flexible Budget Model
Build out a complete budget
Operating budget elements
Financial budget elements
Linking them
What is the Variance Analysis report & why is it important to improve your budget
Calculating variance analysis to see what must be changed
Day 5: Putting It Together – Building The Comprehensive Model:
Build your planning model
Build your forecasting model
Build your budgeting model
Link these together
Leverage optimization through capital structure
Bond buybacks
Targeted Groups:
Financial Accounting Team Members
Cost and Management Accounting Staff
Finance Managers
Budget Managers
Commercial Managers
Capital Investment and Project Team Members
Employees who want to gain great knowledge to improve their career
