Effective Forecasting, Budgeting and Cost Control Masterclass
A budget, as we know, is a financial plan. As with all plans it relates to the future and depends to a great extent on forecasts, predictions and targets. Having drafted financial plans in the form of budgets, the real challenge of business is to operate within the budget parameters, that is, containing expenses to remain within the constraints of cost budgets and to generate income which achieves revenue targets.
The thriving business environment in the Middle East has undoubtedly earned high profits and impressive revenues. However, keeping in mind of high costs incurred due to logistics and other unexpected expenditures, the challenge is maintaining a budget management that has a strong balance in allocating resources, drive and track revenues, project cash flows and more importantly, prevent cash crunch situations from developing. In addition, being equipped with up to the mark forecasting tools and systems can definitely set an organisation in a class of its own.
Besides, in terms of project management, budgets should firstly be assigned based on well-researched investment opportunities. It should clearly define what’s funded, to match expectations to resources. Thus, even if a company is making profits, it might be still sending negative signals to a shareholder, for instance, when returns are lower in relation to the capital used.
At the Effective Forecasting, Budgeting and Cost Control Master Class, the executive delegations will understand the full spectrum of Forecasting, Budgeting and Cost Control crucial techniques across all financial and non-financial industries. The executive delegation will also receive vital inputs on best practices used to improve the overall budgeting system. For an event brochure, please contact Miss Bernadine at BernadineM@marcusevanskl.com<