B6: Advanced Budgeting & Forecasting (3-5 days)

Virtual Classroom - Live, instructor-led, interactive training

We are still 100% open for business and here to help you get the training you need.

While we may have limited physical in-person interactions, we are living in a world with digital capabilities that can still keep us closely connected.

All our courses are available as live, instructor-led, interactive training courses with a special 20% discount to celebrate Access Analytic’s 20th anniversary in 2020.

Make this time your most productive ever by increasing your skills in reporting and analysis, you can go back to the office with new abilities and better reporting.

These are not just a few videos.  Instead, we're providing live, instructor-led, interactive courses and our world-class instructors guide you through every step. Our Course Facilitators have over 20 years' experience in delivering training for clients all over the world.

Learn how to build sophisticated budgets and forecasts that are robust, flexible and user-friendly

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Although not mandatory, attendees will get a lot more out this course if they complete some online training in Excel functions before attending. We have partnered with Excel University to provide high-quality, low-cost online training and recommend their Volume 2 Course as good preparation for this course.  If attendees are a little less familiar with Excel, Volume 1 would also very useful.

What you get from this course

  • Discover a range of techniques to improve the usability and reliability of your budget and forecast models
  • Learn how to integrate budgeting and forecasting and align these processes with your business strategy
  • Create forecasts that properly incorporate imprecise data and allow for uncertainties
  • Gain the confidence that comes from knowing that your budgets and forecasts are robust, accurate, and reliable

Examine and learn the following: 

  • The need for change: global forces driving companies to update their budgeting and forecasting processes
  • How to allow for uncertainty
  • Most applicable types of budgets/ forecasts for each area of the business
  • How to improve the reliability of forecasts whilst also decreasing the time taken to prepare these
  • Alternate budget methodologies and how to determine which methodology applies best in different situations
  • How to optimise budgets & forecasts to achieve maximum efficiency within given constraints.

Key learning outcomes

  • Understand the role of budgeting and forecasting within the enterprise.
  • Learn how to integrate budgeting and forecasting and align these with your business strategy.
  • Learn how to handle uncertainty within budget models.
  • Learn how your organisation can become more agile and produce more accurate forecasts faster.
  • Understand how and when to go beyond Excel for budgeting and forecasting solutions, and understand the enterprise-level technologies that can enable this to occur.


  • To provide an introduction to Budgeting and Forecasting framework within the enterprise: how this can be used to improve performance and gain a competitive advantage.
  • To provide an understanding of the budgeting and forecasting best practices that are being used in today’s companies.
  • To enable managers to understand the budgets and forecasts that are prepared for them.

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Agenda Highlights

Recent events have caused many companies to re-examine the budgeting and forecasting models they use in their decision making processes to ensure they are up-to-date and incorporate the latest in budgeting and forecasting best practices.

Furthermore, many organisations see the current economic situation as an opportunity to expand their businesses by taking advantage of weaker competitors. To support all these decisions, sound budgeting and forecasting are essential.

This course provides delegates with an understanding of both the principles of budgeting and forecasting and the practical application of these to real-world situations through the use of Excel.

The course then builds upon the principles and practices learned to apply these to build sophisticated budgets and forecasts that are robust, flexible and user-friendly.

Introduction to Budgeting


  • What is budgeting?
  • Who reads a budget?
  • Why do organisations make a budget?
  • Steps in creating a budget
  • Parts of a budget


Group discussions & activities

The Budgeting Process

  • Budgeting in large companies
  • Budgeting in small/medium companies
  • Role of the budget in corporate governance
  • Sources of information


Group discussions & activities

Building the Budget

  • Where to start?
  • Key accounting concepts
  • Forecasting revenue
  • Types of costs


Group discussions & activities

Budgeting & Forecasting Re-cap
Overview of the budgeting process and model considerations:

  • Types of budget models
  • Budgeting vs forecasting vs targets

Activity: Identify Improvements

Group discussions

Planning the Model
Compare and contrast the different budgeting methods. Determine which model is best suited to various applications.

  • Bottom-up budget models
  • Model development framework
  • Zero-based budgeting & cost drivers
  • Rolling (dynamic) Budgets
  • Capital expenditure budgeting
  • Determination of Model and Forecast scope and time horizons

Key Tools for Building Budgets and Forecasts

PowerQuery and PowerPivot (built into Excel 2016 and available as separate downloads for 2013) provide amazing functionality for creating and maintaining budgets and forecasts.

To try and produce a budget or forecast in Excel without using these tools would be far more difficult and time-consuming.

As such, the remainder of the course is focused on real-world techniques that utilise the amazing capabilities of PowerQuery, PowerPivot and Power BI to build and present a budget or forecast model.

We will focus on using PowerQuery and PowerPivot in Excel however the same tools and techniques can be easily applied to Power BI Desktop as well with only minor adjustments.

Introduction to PowerQuery

  • Techniques for cleaning up messy data e.g. data from a customer/supplier/partner
  • How to transform data from one format to another
  • How to integrate data sources that have different time scales and different formats e.g. daily transactions integrated with a monthly budget
  • How to merge multiple queries together e.g. data from different accounting systems or charts of accounts
  • How to read multiple files from a folder and easily combine them together e.g. data outputs from other systems or daily/weekly transaction files
  • How to use mapping tables to translate codes to readable names, or allow grouping of accounts/customers/products to create hierarchies that allow different views of your budget e.g. by country, state, or city; or by product group, product class and individual product etc.

Introduction to PowerPivot

  • What is PowerPivot and how does it work?
  • Key concepts for understanding and power of PowerPivot
  • How is it applied to budgets and forecasts?
  • Introduction to writing formulas in DAX to create calculated columns and measures e.g. for the current year budget, re-forecast figures, year-to-date numbers, comparison to last year/month, % or $ variance between actual and budget, reporting actual & forecast in one report etc.
  • Comparing PowerPivot techniques to Excel: what’s the same and what’s different?
  • How to build checks and balances e.g. to find new accounts or missing codes

Putting it all Together

  • Creating reports and charts with drill-down functionality that allow users to quickly find the information they’re looking for
  • Creating dashboards where every element on the page is controlled by one click
  • Transferring your budget/forecast model into Power BI Desktop and using this to present your results in a very graphical, intuitive way

The End Result

Participants will apply their knowledge to create a very flexible, powerful budget/forecast that incorporates the following features:

    • Import actuals from an accounting system up to whatever month is available
    • Import budget data from templates that have been completed by different departments
    • Combine actuals with budget/forecast data to produce:
      • $ and % variance to budget reports, automatically highlighting significant variances
      • Full-year forecasts with actuals to a point then budget or forecast numbers for future months
      • Comparison to last year and last month to identify trends
      • Charts and dashboards of the results
  • Ability to view reports at different levels of consolidation:
    • Day, month, quarter, year
    • By country, area and individual project
    • By company, department, and cost centre

The model created is flexible and can be adapted to suit almost any organisation.

Introduction to Automated Budgeting/Forecasting Systems

  • Compare and contrast to an Excel budgeting/forecasting system

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Software Required

Excel 2010: please upgrade to Excel 2016 or Office 365. Although PowerQuery and PowerPivot are available for this version, they don’t work very well so you will need to upgrade!

Excel 2013: please ensure you have the free PowerQuery and PowerPivot add-ins for Excel. These must be downloaded from Microsoft, installed and tested by your IT support staff.

Excel 2016 or Office 365: please ensure the PowerPivot add-in is installed and enabled (PowerQuery is already built-in to Excel 2016).

Note: PowerQuery and PowerPivot are only available on the Windows versions of Excel.  Currently, they are NOT AVAILABLE on any Mac version.

Everyone: please also download and install the free Microsoft Power BI Desktop software.  This is not available for Macs either.

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Who should attend?

  • Budget Analysts
  • Cost Analysts
  • Business Analysts
  • Financial Analysts
  • Finance Managers
  • Business Planning & Forecasting Staff
  • Management Accountants
  • Business Analysts
  • CFO’s
  • Financial Modellers
  • Investment & Corporate Bankers
  • Finance Professionals
  • Accountants

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Facilitator: Jeff Robson

Masters (Applied Finance), B.Com (Accounting & Information Systems), FAIM, F Fin, MAICD, CISA, Excel Expert| LinkedIn |

Jeff is the founding Director and Principal Business Analyst at Access Analytic Solutions. He has over 20 years’ experience in chartered accounting, business management and consulting.

Jeff holds a Masters in Applied Finance and is a Certified Information Systems Auditor. He is highly regarded and recognised around the world as an expert in the field of financial modelling and Power BI reporting.

His achievements have been recognised by his peers and he is a Fellow of both the Financial Services Institute of Australasia and the Australian Institute of Management.

Jeff has extensive experience in best practice management reporting, data analytics, business analysis, and financial modelling and is also an entertaining international presenter and trainer on these subjects.

Jeff is the author of a number of white papers on financial modelling on subjects such as Financial Modelling Best Practices and Financial Model Auditing.

He provides training for companies throughout Australia, New Zealand, Asia, South Pacific, the Middle East, and Africa.

Recent Speaking Engagements

The following are a sample of Jeff’s recent speaking engagements:

  • Hong Kong: 4 day Financial Modelling workshop for Banking & Finance professionals
  • Hong Kong: 3 day Advanced Company Valuation workshop for Banking & Finance professionals
  • Kuala Lumpur: 2 day Advanced Budgeting & Forecasting Course
  • Hanoi: 4 days of training in Advanced Budgeting & Forecasting for large Oil & Gas Company
  • Johannesburg: 2 day Advanced Financial Modelling workshop
  • Kuala Lumpur: 4 day workshop on Advanced Financial Modelling for Oil & Gas Companies
  • Perth: 5 day workshop on Excel for Financial Modelling, and Financial Modelling Fundamentals for State Government Dept
  • Perth: 4 day Advanced Financial Modelling workshop for major Oil & Gas Company
  • Kuala Lumpur: 2 day Advanced Financial Modelling workshop
  • Perth: 5 day workshop on Petroleum Resource Rent Tax (PRRT) and Advanced Financial Modelling for Oil & Gas Companies
  • Perth: 2 day VBA Fundamentals course for Mining Services Company
  • Perth: “Business Performance Reporting on a Shoestring” joint presentation with Microsoft at the CPA Congress to over 150 attendees
  • Perth: “Power up your reports with Excel 2007” 3-hour presentation at CPA Congress to over 150 attendees
  • Singapore: 4 day workshop on Advanced Excel and Advanced Financial Modelling for multinational logistics company
  • Tehran, Iran: 3 day Advanced Financial Modelling for Oil & Gas Companies
  • Dubai: 3 day workshop on Advanced Financial Modelling and company valuation
  • Kish, Iran: 5 day workshop on Advanced Budgeting and Forecasting for Oil & Gas companies
  • Johannesburg: 4 day workshop on Advanced Financial Modelling


Facilitator: Yury Tokarev

Chartered Accountant, PhD | LinkedIn |

Yury is a Senior Manager of Business Analysis & is an International Training Specialist at Access Analytic, an Australian consulting company that develops AMAZING Power BI and Excel solutions that enable organisations to grow faster, reduce costs and control risk. Yury has over 15 years’ experience in the development and maintenance of analytical tools and financial models for middle-market companies and large corporates, at all levels of complexity, in both domestic and international settings.


Facilitator: Wyn Hopkins

Excel MVP, B.Sc. (Hons) Accounting & Financial Management | LinkedIn |

Wyn is a Director with Access Analytic, an Australian consulting company that develops AMAZING Power BI and Excel solutions that enable organisations to grow faster, reduce costs and control risk.

Wyn qualified as a Chartered Accountant with PricewaterhouseCoopers in the UK in 2000, before working as an analyst for the FTSE 100 companies HBOS and Barclays.

Microsoft awarded him the status of Most Valuable Professional for Excel in 2017 and 2018. This recognises his expertise and willingness to share his knowledge via blogs, articles and community events.

Wyn is an experienced Trainer and Excel / Power BI Developer.

Since joining Access Analytic in 2007, he has delivered hundreds of amazing solutions for clients including many for Chevron and other leading organisations in Perth.

Feedback from Previous Participants

Feedback Initials & Position
“Excellent course for learning budgeting and forecasting. I will apply this to my work on Monday!” B.L., Budget Analyst, Phillip Morris
“I feel very confident with budgeting now. Thanks!” Z.M., Analyst, Islamic Bank
“Very useful. I learned many new things that will make me more efficient in budgeting.” A.R., Management Accountant, Manufacturing
“There were so many things I can use and apply! Many many thanks!” A.Z., Senior Analyst, Corporate Finance

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Benefits & Inclusions

Practical: Highly experienced facilitators who actively and regularly consult to clients also.
Applicable: apply what you learn to your job to further your career.
Hands-on: the course is designed to provide maximum hands-on experience.
Passionate: Our facilitators love this subject!
Clear: we specialise in translating complex subjects into concepts that are easy to understand.
On-going help: you can always e-mail the facilitator.
Comprehensive course notes.
Networking: meet industry peers and hear how they approach this subject.
Certificate of completion.
… and much more!

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Clients who have 3-4 or more people interested in this course normally prefer to run this course on an in-house basis in their offices.

We can bring all the equipment for up to 8 people so all you need is a room!


  • Flexibility: we can combine content from multiple courses to create a custom course just for you, add-on a workshop or some mentoring sessions then run everything at the times that suit you.
  • Timing options: if you’re in Perth, we can split courses into half or single days and schedule these at times to suit you
  • No hidden extras: our fixed fee includes all materials and equipment costs for up to 10 participants
  • Cost effective: no extra fees for extra participants (maximum of 8 per session)

In-House Details & Pricing

  • Structure: half-day or full-day sessions
  • Location: all courses are available in-house, many are also available in open sessions
  • Class size: strictly limited to 10 to allow maximum interaction with the facilitator
  • Provided: projector, laptops, manual, CD
  • In-house Fees: contact us today to discuss your requirements

In-house Course Fees

Call us on +61 8 6210 8500 to discuss your requirements.

– We are happy to customise our courses to suit your requirements
A 10% discount applies when booking 10+ full days of training in any 30 day period
– Many courses can also be split into half-days (please enquire)
– Fees for locations outside of Perth do not include equipment

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