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Effective Budget Forecasting:

Raising the challenge of the 21st century by implementing


a dynamic approach to forecasting and planning

8th – 10th December 2009 | Prince Hotel, Kuala Lumpur

Summary
Financial Planning is a continuous process that flows with strategic decision-making. The Operating Plan and the
Financial Plan will both support the Strategic Plan. The best place to start in preparing a budget is with sales since
this is a driving force behind much of our financial activity. However, we have to take into account numerous factors
before we can finalize our budgets.

Budgeting should be flexible, allowing modification when something changes. For example, the following will impact
budgeting:
• Life cycle of the business
• Financial conditions of the business
• General economic conditions
• Competitive situation
• Technology trends
• Availability of resources

Budgeting should be both top down and bottom up; i.e. upper level management and middle level
management will both work to finalize a budget. We can streamline the budgeting process by developing a financial
model. Financial models can facilitate “what if” analysis so we can assess decisions before they are made. This can
dramatically improve the budgeting process.

One of the biggest challenges within financial planning and budgeting is how do we make it
value-added. Budgeting requires clear channels of communication, support from upper-level management,
participation from various personnel, and predictive characteristics. Budgeting should not strive for
accuracy, but should strive to support the decision making process. If we focus too much on accura-
cy, we will end-up with a budgeting process that incurs time and costs in excess of the benefits derived.
The challenge is to make financial planning a value- added activity that helps the organization achieve its strategic
goals and objectives.

Why You Cannot Miss This Event?


As businesses began to turn their attention from implementing their 2009 plans to formulating new ones for 2010
especially when the global financial turbulence has prolonged the recovery mode for all businesses across the
region.

Due to an increasingly competitive and volatile environment, many businesses recognise that it is common to
face the financial stumbling blocks at some point particularly when budget is the biggest constraint. Therefore it is
crucial that they make use of effective financial tools, techniques and approaches to deliver cost-effective solutions.
Of all these, an efficient and effective budgeting systems are the most common and widely used management tool
for planning and control.

However, many businesses suffer from poorly constructed budgeting and financial processes that stifle
achievement and result in frustration or discouragement. Some companies also acknowledge that their budgets
are too rigid, unresponsive, bureaucratic and add little value to their performance.

This highly interactive course is designed to teach you how to create a more meaningful budget, and how to use
this budget to more effectively make important business decisions. Throughout the programme, you will identify
effective methods for translating your organisation’s strategic initiatives into measurable financial performance.
Now that you are in charge – what’s next? Are you 100% clear about the strategic direction of your department /
organisation (and your target companies)? How and where is it going?

evolution mind power asia


Effective Budget Forecasting:
Raising the challenge of the 21st century by implementing
a dynamic approach to forecasting and planning

8th – 10th December 2009 | Prince Hotel, Kuala Lumpur

Speaker Profile

Rohan Badenhorst Executive Partner at 3resource LLP, ACMA,


Financial & Strategic Business Partner Specialists, Cambridge, Unit-
ed Kingdom is a Chartered Management Accountant, Managing Successful
Programmes™ and Independent Tax Practitioner currently living and working in the
United Kingdom. In his creative moments he describes himself as a Design
Accountant or Behavioral Profit Mechanic. He was educated both in South
Africa and the United Kingdom and has spent several years working and consulting in
Saudi Arabia and the United Kingdom. He prefers to deliver his consulting assignments
by embedding himself in an organization, serving as an interim financial specialist. By
adopting this ‘embedding strategy’ he believes that it is possible to get to the core of
organizational change and thereby drive efficiency and effectiveness, at the same time
fostering a healthier climate of collaboration and trust between the consultant and the
client organization’s employees and managers.
Clients have included Unilever Arabia, Arabian Stores Company, Binzagr Co- Ro, the
Intercontinental Hotels group, Nuffield Health and Travelex. His experience covers
diverse sectors including Commerce & Industry, Not-for- profit and Financial Services
organizations, enabling him to effectively benchmark best practice across a wide range of
different enterprises.
He has guest lectured at the European Business School and written and delivered a
conference paper at the 8th International Conference on Corporate Governance
entitled “In search of the Market Soul”. He is an alumni at Henley Business School. He
serves on the ‘Interim Management Special Interest Group’ committee of the Institute of
Chartered Accountants in England and Wales and served as Centre Correspondent for the
Chartered Institute of Management Accountants (CIMA) in Saudi Arabia. He is a registered
Member in Practice with CIMA in the UK and delivers both consulting and financial back office
solutions to clients and professional practice groups via 3resource LLP, where he is an “Executive
Partner."


Fanuel Dewever, Founder & Managing Director of 83 Degrees South, has more than 12 years
of international experience gained in some of the world’s leading corporate organisations such as
IBM, PricewaterhouseCoopers & Accenture. As solution oriented consultant, coach and trainer,
Mr. Dewever served customers including blue chip clients, public sector organisations and innovative
SMEs. Clients engagements include the European Commission, KPMG, La Poste, Unilever and
Schering-Plough.
Mr. Dewever highly appreciates working with a dynamic & ambitious international team. His key areas of
expertise include technology consulting, business analytics, project & programme management, process & performance
improvement, change management, and business transformation. He also has deep hands-on experience with
Strategy & Innovation, Collaborative Workplaces, eLearning, Knowledge Management, IT strategies, and corporate
venture development.

He is member of the European Learning Industry Group (ELIG), The International Society for Professional
Innovation Managers (ISPIM) and Information Systems Audit and Control Association (ISACA). Through his involvement in
several European and local expert groups he provides decision makers with policy advice on human capital development,
innovation management and regional development.

Fanuel Dewever holds university degrees in Organizational and Managerial Informatics (1998) and in Applied
Economics (with majors in Marketing and Informatics, 1999), both from the Brussels University (VUB). In April 2007
he started an executive MBA programme at Henley Management College (UK). He is acknowledged for his contributions
to two books and is the author of several articles and papers.

evolution mind power asia


Effective Budget Forecasting:
Raising the challenge of the 21st century by implementing
a dynamic approach to forecasting and planning

8th – 10th December 2009 | Prince Hotel, Kuala Lumpur

In just 3 days you will be able to Semi-customized Learning


• Evaluate strategic directions and capabilities of To ensure a personalized learning for you at
the organization this workshop, upon registration, you will be
• Perform in-depth financial planning and given a pre-course questionnaire where you can
performance management detail your exact learning objectives. Our course
trainer will analyze your learning needs &
• Benchmark on effective budgeting & forecasting tailor the workshop to address the issues that
tools by leading companies
you have raised. We would recommend that you
• Critical review of the budgeting processes complete the form with detailed input and at the
• Examine a range of techniques to improve your soonest time to ensure appropriate & relevant
budget model customization of the workshop with your needs in
mind.
• Align the budgeting & forecasting function to your
business goals
• Understand different forecasting methods to lead to
an efficient planning Special BONUS

Who Should Attend? This semi-customized MasterClass will not only


provide 3 days intensive learning experience
but also an additional 3 Months action plan or
CFO’s, Chief Operating Officers, Directors, Busi-
ness Units & Departmental Managers, Managers, consultation with Rohan Badenhorst and
Controllers, Advisors and Heads of: Fanuel Dewever on any MasterClass related
• Finance will be provided to EMP Asia’s clients for FREE.
• Corp Finance
• Corp Planning
• Strategic Planning
• Budgeting & Control Strategic Partner
• Planning & Control
• Business Planning
• Strategic Business Unit
• Performance Management
• Sales and Marketing Managers
• Purchasing
• Business Development
• Accounts
• Brand Management
• Product Planning

Participants are required to bring a


laptop for the workshop

evolution mind power asia


Effective Budget Forecasting:
Raising the challenge of the 21st century by implementing
a dynamic approach to forecasting and planning

8th – 10th December 2009 | Prince Hotel, Kuala Lumpur

Topics
Day 1 Day 3
How critical is good financial information Recognizing the best budgeting techniques
• Managing a company in this volatile business • Forecasting Methods
environment • Break-even Analysis
• Bridging the gap between Finance, Accounting and • Use of Standards
Other departments • Trend Analysis
• Tracking the life cycle of a company • Cost Estimation
• Translating strategic plans to business plans • Project Budgeting
• Business Analytics
Monitoring business performance against
budgets Managing your costs throughout the
• Monitoring and measuring variance analysis budgeting and forecasting process
• Interpreting results • Scrutinizing cost: direct & indirect cost base
• Identifying cost saving opportunities • Effectively managing cost control to make the
• Phasing expenditure to help cash flow forecasting process efficient
• Developing and tracking Key Performance • Integrating new costs and cost savings into the
Indicators (KPIs) budget
• Implementing a cost reduction exercise
Transforming the budgeting & planning process
• Zero-based budgeting Budget consolidation as a strategy enabler
• Detail and completeness • Forecasting your business ecosystem’s budgeting
• Activity Base Management & budgeting plan
• Budgeting and planning techniques • Summarising and analysing your businesses
budget effort
• Formulating the action plan
Day 2
Implementing budget forecasting
• Understanding forecasting and how to
implement them
• Understanding the concept of rolling forecasts
• Differentiating between budgeting and forecasting

Going beyond conventional budgeting


• Exploring the conventional budgeting process:
Theory Vs Reality
• Shortcomings of budgets prepared
• Analysing budget variances and gaps Programme Time
• Testing assumptions used in preparing the budget 0830 Registration & welcome coffee
0845 –1015 Masterclass Begins
Identifying the right measurement guideline 1015 –1030 Coffee Break
• Development of the long-range vision 1030 –1300 Masterclass Resumes
• Focusing the Vision 1300 –1400 Lunch Break
• Creation of Definable, Measurable Objectives 1400 –1600 Masterclass Resumes
• Development of the Key Performance Indicator 1600 –1615 Coffee Break
Matrix 1615 –1700 Masterclass Resumes
• Identification of required activities, resources, and 1730 Masterclass Ends
consumption rates

evolution mind power asia