Advanced Budgeting Techniques for Businesses in MENA
Week 1
The Importance of Budgeting for Businesses
- Understanding the role of budgeting in financial management.
- Overview of traditional vs. advanced budgeting techniques.
- Aligning budgeting with strategic business objectives.
Week 2
Zero Based Budgeting
- Introduction to zero
- based budgeting and its principles.
- Steps to implement ZBB in an organization.
- Case studies demonstrating ZBB in action.
Week 3
Activity Based Budgeting
- Understanding activity
- based budgeting and its advantages.
- Identifying cost drivers and aligning expenditures with business activities.
- Practical exercises on creating an ABB framework.
Week 4
Rolling Budgets
- Overview of rolling budgets and their benefits for dynamic environments.
- Techniques for regularly updating budgets based on real
- time data.
- Workshop on developing a rolling budget for a hypothetical business scenario.
Week 5
Advanced Capital Evaluation Techniques and Data Driven Decision Making
- Introduction to advanced capital budgeting techniques (e.g., NPV, IRR).
- Conducting sensitivity and risk analysis for budget scenarios.
- Using data analytics to enhance budgeting and forecasting processes. D. Planning your budget cycle and integrating forecasting techniques.
