Finance Essentials - Introduction to Forecasting & Reporting (ICAS)

Overview

The monthly management reporting round can be seen as a trial by spreadsheet. Why have you overspent? Where did that forecast figure come from? Why are there so many negative variances? This course is designed to help managers understand reasons for variances and provide them with tools and techniques to deliver a more informed end of year forecast. It also discusses best practice in management reporting to make sure appropriate and informed management decisions are made.

Who is this for?

This highly interactive course is for anyone who needs to monitor and explain budget variances or provide a more accurate forecast for their expected financial position at year end.

What will you learn

By the end of this course delegates will, with the aid of their notes, be able to:

• Explain the reasons for a range of financial variances that may occur within an organisation
• Forecast end of year figures using seasonal variation and budget flexing
• Design better management reports with reference to best practice
• Avoid perverse management behaviour by looking at a balanced set of reporting criteria (Balanced Scorecard)

How does this course help your career?

As managers move through their careers they are invariably given more responsibility for the financial success of a business. This is often linked to the creation and management of meaningful budgets. A greater understanding of what constitutes an effective reporting process and why real life differs from budget expectation will provide delegates with a more rounded CV and in doing so improve their career prospects.

Related courses

This course is part of BPP’s Finance for Non-Financial Managers programme that consists of 8 half day modules. The courses are designed to be stand alone but, as a programme, provide a comprehensive understanding of key finance concepts for non-finance managers from accounts production and interpretation to budgeting and forecasting. The courses in the programme are: Finance Essentials - The StatementsFinance Essentials - The PrinciplesFinance Essentials - Introduction to Control and AuditFinance Essentials - Company Accounts and The Annual ReportFinance Essentials - Introduction to Strategy and the Business CaseFinance Essentials - Introduction to Investment AppraisalFinance Essentials - Introduction to Budgeting

Finance Essentials - Introduction to Forecasting & Reporting