Strategic Budgeting & Forecasting for Non-Finance Professionals
A strategic-level view of budgeting for those outside finance. Participants connect financial statements to one another, distinguish OPEX from CAPEX and their budgeting treatment, and see how the strategic planning process shapes the numbers.
This subject may be offered at different levels; scope, depth and prerequisites are confirmed for the selected programme.
- Brief understanding of financial statements and their integrations with each other (For Non-Finance Professionals).
- Differentiate Between OPEX and CAPEX, Understand the nature, purpose, and budgeting treatment of operating expenses and capital expenditures.
- Understand the strategic planning process and how to translate that into annual budgets.
- Identify the different types of budgets such as but not limited to:
- 1. Incremental Budget.
- 2. Zero-based Budget.
- 3. Flexible Budget.
- 4. Cash Budget.
- Distinguish between operating and non-operating revenues and expenses.
- Understand the difference between fixed and variable costs.
- Appreciate why budgets fail and learn the best practices in budgeting.
- Be able to implement budgetary controls by reviewing, reacting and revising the budget.
- Link Budgets to Key Performance Indicators (KPIs) to align financial plans with measurable business performance metrics for better accountability.
- Optimize planning of resources to achieve budgeted targets.
- Be able to communicate with management and finance function more effectively and confidently in issues related to budgeting.
- Create and analyze variances of actual vs. budgeted earnings and spendings.
- Finance for Non-Finance Professionals – Focus on understanding financial statements and using them for decision-making.
- Business Budgeting & Performance Monitoring – Focus on linking departmental activities to the company budget and tracking performance.
- Cost Awareness & Efficiency – Focus on identifying cost drivers and finding practical cost-saving opportunities.
- Advanced Budget Formulation and Control – Focused on preparing, reviewing, and monitoring annual budgets in line with corporate objectives and sector-specific regulations.
- Variance Analysis and Financial Performance Reporting – Practical sessions on comparing budget vs. actuals, identifying variances, and preparing analytical reports for management decision-making.
- Cost Allocation and Management in the Oil Sector – Focused on cost classification, allocation methodologies, and cost recovery principles relevant to the industry.
Location
Courses may be conducted at one of the following hotels in Kuwait:
- Hilton Garden Inn Kuwait – The Avenues
- Hilton Kuwait Resort – Mangaf
- Jumeirah Messilah Beach Hotel & Spa
- Radisson Blu Hotel Kuwait
Or at the client’s premises.
Related Courses
Foundations of Budgeting and Forecasting for Non-Finance Professionals
A foundation-level introduction to budgeting and the budgeting process for those outside finance. Participants cover the role and types of forecasting, how budgets are allocated to operational activities, and the costing and budgeting terminology used across the business.
Cash Management Fundamentals
Understand why cash management decides whether a business can keep operating. Participants work through cash flow analysis and working capital, and learn to use DPO, DSO and DIO to see exactly where cash is trapped in payables, receivables and inventory.
Professional Accounting for Inventory Fundamentals
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