🔰 Introduction

Budgeting is one of the most essential tools in financial planning, helping organizations allocate resources, control expenditures, and monitor financial performance. Financial forecasting, on the other hand, is a forward-looking tool that enables management to analyze past and current data in order to build more accurate future projections and make informed strategic decisions.

In the Kingdom of Saudi Arabia, and with the significant economic transformations brought by Vision 2030, the importance of these tools continues to grow in supporting both public and private sector institutions in effective financial planning and efficient resource management.

This Budgeting and Financial Forecasting Program equips participants with a practical methodology and advanced tools to develop professional budgets and accurate financial forecasts that support institutional growth, sustainability, and competitiveness in the labor market.

🎯 Learning Objectives

🧭 Program Outline

Basic Finance Terms

The Role Of Budgets – Why Do We Have Them?

• Meeting The Organization’s Objectives  
• Planning  
• Monitoring and controlling  
• Co-coordinating  
• Evaluating performance  
• Improving performance  
• Management contract  
• Communicating  
• Providing a basis for authorizing expenditure and delegating responsibility  
• Identifying scarce resources  
• Allocating resources  
• Demonstrating and delivering good corporate governance  

How Should The Budget Be Built?

• Building budgets  
• Incremental budgeting  
• Zero based budgeting  
• Activity based budgeting  
• Should budgets be top-down or bottom-up?  

Costs 

• Cost optimization and structure  
• Variable and fixed cost  
• Activity based costing (ABC)  
• The breakeven model  
• Product life Cycle  

Financial Information

Balance Sheet 

• Dealing with the components of the Balance sheet  
• What the Balance Sheet does not tell you  

The Income statement

• Elements of the Income Statement  
• What the Income Statement tells you  
• What the Income Statement does not tell you  

Ratios and budgets

How should capital expenditure be budgeted for?

• What is capital expenditure?  
• The payback rule  
• NPV and DCF  
• Capital rationing: profitability index  

Managing your budget and delivering performance

• Budget feedback mechanism  
• Managing budgets  

Making sense of standard costing and variances

• Making sense of variances  
• Standard costing  
• Breakdown of variances  

Risks, forecasts and KPIs  

• KPIs and budgets  
• Values, mission and vision statements – and budgets  
• Risks and budgets  

Using budgets to fix production and number of staff

Applying the SWOT analysis 

A group of Case studies

🎯 Target Audience