Financial Analysis, Planning & Controlling Budgets

Course Introduction

Managing budgets and cost planning and control are of fundamental importance to ensure financial and economic sustainability. In their quest to maintain their costs under control, companies implement specific techniques and IT systems to closely monitor and control their budgets, planning, and targets. Consequently, it is equally vital for business professionals and unit managers to acquire budgetary skills and to be able to track, control and reduce costs. 

This five-day training course is an informative and practical guide to the essential skills needed to produce accurate and valuable budgets. It also describes how cost structure and behaviour change across different sectors and industries? We will walk you through all the budgeting and cost control mechanisms and highlight different budgeting strategies suitable for each sector and industry. Simulations and case studies will provide practical advice on challenging figures logically and how to monitor procedures sensibly.

This training course will highlight the following:

• Linking of corporate strategy to operational plans
• Defining the primary role of budgeting within the organisational management system
• Master cost analysis for budgeting purposes 
• Develop the budgeting and financial skills necessary for decision-making
• Understand how to identify key organisational performance
• Navigate the dynamics between organisational drivers, strategic objectives, and financial drivers

Objectives

The participants will be able to:

• Construct an effective process of  planning, budgeting and reporting 
• Identify and analyse costs behavior 
• Deliver more timely and valuable information to decision-makers
• Identify, interpret & manage key financial indicators for the business
• Understand the Balanced Scorecards

Training Methodology

This training course will utilise various proven learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This includes:

• A presentation in a highly interactive manner
• Individual and group activities, interspersed throughout the sessions, along with appropriate case studies
• Video documentaries  that will highlight the significant teaching features

Professional Impact

This highly interactive training course is designed to provide solid background professionals who want to understand how Budgeting, Cost Control, and Planning effectively work within organizations.

The participants will:

• Develop Budgeting and Cost Planning vocabulary
• Understand the complexity of Planning and Cost Control  and their intricacies   
• Increase knowledge of different Budgeting techniques
• Make more sound decisions regarding your company's critical capability
• Demonstrate an understanding of your incumbent value chain 

Target Audience

This training course is suitable for anyone who wants to learn about the Budgeting process and how effectively implement cost controls. Whether the delegates come from Business, Legal or Technical backgrounds, this course is bespoke to benefit professionals from different sectors and industries such as but not limited to:

• Engineers
• Production Managers 
• IT Managers
• Sales  Professionals
• Marketing Managers
• Legal Managers
• HR Managers 
• Project Managers
• Banking Professionals
• Public and Semi-Public Sectors Professionals
• Entrepreneurs and Business Owners
• Consultants

Daily Topics

DAY ONE: LINKING FINANCIAL ANALYSIS TO BUDGETING

• Use of ratios to assess Business Unit performance
• The Limitations of Ratios analysis
• Financial Analysis Versus Budgeting: Inter-temporal application
• Understanding the Context for Budgeting
• The role for Achieving Organisational Targets

DAY TWO:  BUSINESS BUDGETING: PRINCIPLES AND KEY CONCEPTS

• Principles of Budgeting
• Budgeting and the Management System of Contemporary Organisations
• From Strategic to Operating Plans: Actions and Initiatives
• Measuring and Managing the Performance: KPIs and Targets
• The Shortcomings of the Budgeting Process: How to improve them?

DAY THREE: COST ANALYSIS AND PLANNING

• Cost Behavior
  • Fixed vs Variable
  • Manufacturing vs Non-manufacturing
  • Period vs Product
  • Indirect (OH) vs Direct
• Accounting Distinction between Costs
• Cost Flows Visualised
• Processes of Planning and Cost Control
• Cost Control Methods and Techniques

DAY FOUR: COST ANALYSIS - TRADITIONAL VS ADVANCED TECHNIQUES

• Understand Allocation Methods ( AM)
• Cost-Volume-Profit  ( CVP) Analysis Model
• Contribution Margin Analysis  ( CMA)
• Traditional Systems vs Activity-Based Costing (ABC)
•  Excel Spreadsheet Simulation

DAY FIVE: NEW INTEGRATED PERFORMANCE MEASUREMENT SYSTEMS

• Thinking beyond Cost Control Planning: How to Link  Resources to Activities and Management
• Activity-Based Budgeting (ABB) and Activity-Based Management (ABM)
• Understanding Value Creation's  Drivers
• Analysing  Balanced Scorecard
• Implementing Integrated Reporting

For registration & more information please contact

NAYEL Training Centre 

T: +971 4 379 7245 | M: +971 50 249 6876 WhatsApp +971 50 249 6876

Email [email protected]