Budgeting and Forecasting

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1. 1

   Planning, Budgeting and Control: The Big Picture

   • From Strategy to Budget: The Planning Hierarchy
   • Responsibility Centres and Budget Ownership
   • The Budget Calendar and Process Governance
   • Reading Budget Reports: The Language of Planning
2. 2

   Purpose and Construction

   • What Budgets Are For
   • Building the Budget
   • Building the Sales Budget from Drivers
   • Production, Materials and Labour Budgets Worked Through
   • Building the Cash Budget Month by Month
3. 3

   Cost Behaviour and Budget Models

   • Fixed, Variable, Semi-Variable and Stepped Costs
   • Contribution, Break-Even and Margin of Safety in Planning
   • Designing a Driver-Based Budget Model
   • Testing and Protecting the Budget Model
4. 4

   Forecasting and Control

   • Forecasting Techniques
   • Monitoring, Variance and Reforecasting
   • Flexed Budgets and Cost Variances Worked Through
   • Sales Price, Volume and Mix Variances
   • Measuring and Improving Forecast Accuracy
5. 5

   Capital and Working Capital Planning

   • Capital Investment Appraisal
   • Working Capital and Funding the Plan
   • Discounted Cash Flow Worked Through
   • Forecasting the Balance Sheet and the Funding Requirement
6. 6

   Budgeting in Practice: Cases

   • Case: Budgeting a Growing Services Firm
   • Case: A Manufacturer Facing a Cost Shock
   • Case: Budgeting in a Not-for-Profit Organisation
   • Case: Reforecasting After Losing a Major Customer
7. 7

   Running the Planning Process Well

   • Presenting Budgets and Forecasts to Decision-Makers
   • Choosing Planning Tools and Systems
   • Diagnosing a Failing Budget Process
   • Your Planning Toolkit: Review and Next Steps