Course Overview

This Budgeting, Planning & Management Reporting training course provides participants with key cost awareness and budgetary skills, which are essential for managing and controlling resources in times of increasing global competition where the budgets are inextricably linked with both the achievement of strategic objectives as well as with evaluation of future and initiatives.Budgeting lies at the heart of business management, yet businesses often encounter planning and financial difficulties as a result of either inadequate planning, lack of understanding of the business, or errors within the compilation of the budgets. Ineffective management reports heighten the challenge in collating inputs to the budget and use of budgeted information.

Course Objectives

Upon completion of this course, the trainees will be aware and understanding of the following:

• Implement advanced planning and control techniques into your budgeting process
• Integrate the budgeting process with the development of the company’s long-term strategic vision
• Successfully build an integrated planning, budgeting and reporting process
• Apply management tools to the budgeting process that contribute to strategic goals
• Identify key performance indicators for effective and focused decision making
• Increase profitability and performance through stream lined planning and reporting

Who Should Attend?

• The staff person who will be responsible for entering data into the budget system or training others how to enter information
• Those who want to gain control of the firm's financial standing and obtain a firm grasp on the numbers side of their job
• Financial Professional, Professional R&D, Sales/Marketing Professional, General Accounting Professional, Business Unit Professional
• Anyone who wants to refine and advance the budgeting and costing knowledge

Course ContentsModule (01) Planning for Success

• What are planning strategies?
• Strategy analysis, choice & implementation
• Introducing the Strategy maps
• Corporate value and shareholder value
• The agency problem and corporate governance
• Planning requirements and working capital

Module (02) The Forecasting Process

• Determine the purpose and objective of the forecast
• Statistical analytical tools
• Quantitative analysis and forecasting
• Forecasting techniques
• Causal analysis models – regression analysis
• Using Excel  to analyse historical data

Module (03) Budgets, Costs and Budgetary Control

• Why do we budget? – the purposes of budgeting
• Planning and control
• Putting the budget together
• Cost behaviour and classification
• Cost / volume /profit (CVP) and ‘what-if’ analysis
• Standard costing
• Flexed budgets
• Variance analysis and the reasons for variances

Module (04) Activity Based Costing (ABC) And Activity Based Budgeting (ABB)

• Activity based costing (ABC)
• Refinement of the costing system
• ABC and cost management
• Design of ABC systems
• The cost hierarchy and cost drivers
• Advantages and disadvantages of ABC systems
• From traditional budgeting to activity based budgeting (ABB)
• The ABB process
• Motivation and the behavioural aspect of budgeting

Module (05) Measuring corporate performance: requirements of a successful performance measurement system

• Broadening performance measurement systems
• The Drive toward Shareholder Value (EVA)
• Beyond budgeting: integrating financial and non-financial issues
• Introducing the Balanced Scorecard and the key perspective