Planning, Budgeting and Management Reporting
This course takes a practical approach to financial planning for the organization considering the planning process and how to improve it, the compilation of budgets: who needs to be involved and why and how to identify potential problems arising and suggests actions which can be taken. It will also discuss ways of improving financial control using effective management reporting.
· 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 streamlined planning and reporting
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
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 analyze historical data
Budgets, Costs and Budgetary Control
· Why do we budget? – the purposes of budgeting
· Planning and control
· Putting the budget together
· Cost behavior and classification
· Cost / volume /profit (CVP) and ‘what-if’ analysis
· Standard costing
· Flexed budgets
· Variance analysis and the reasons for variances
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
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
This course is targeted at all those who are involved in preparation, presentation and interpretation of corporate financial reports from both the private and public sector in commercial businesses, Governments and NGOs.