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Course Code: FNBN 152
13664 Course Visits
Budgeting, Planning and Management Reporting
Course Sector:
Finance, Accounting and Banking
Course Dates and Locations
Choose a date and location to book your seat
No.
Date
Days
Location
Fees
Enrollment
01
5 Days
Madrid, Spain $4,950
02
5 Days
Dubai, UAE $4,250
Introduction
Training course introducion / brief
The essence of business management revolves around budgeting, yet businesses often face planning and financial challenges due to insufficient planning, inadequate understanding of the business, or errors in budget compilation. Moreover, ineffective management reports exacerbate the difficulty of gathering inputs for budgeting and utilizing budgeted information.
This training program adopts a pragmatic approach to budgeting, planning, and management reporting within the organization. It delves into the following key areas:
- Enhancing the planning process for improved outcomes
- Understanding the necessary stakeholders involved in budget compilation and their roles
- Identifying potential issues in advance and recommending actionable solutions
- Implementing strategies to enhance financial control through effective management reporting.
Course Objectives
At the end of the training course, participants will be able to
- Learn and apply advanced planning and control methodologies within your budgeting framework.
- Integrate the budgeting process with the formulation of the company's long-term strategic outlook.
- Develop a cohesive planning, budgeting, and reporting framework.
- Employ management instruments in budgeting that align with strategic objectives.
- Recognize pivotal performance metrics to facilitate decisive and targeted decision-making.
- Enhance profitability and efficiency through optimized planning and reporting procedures.
Course Audience
Who is this course for, and can benefit the most
- Professionals 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 Outline
The course aims and learning outcomes
PLANNING FOR SUCCESS
- What are planning strategies?
- Strategy analysis, choice & implementation
- The role of strategy maps in defining the business
- Effective and less effective management reporting practice
- The agency problem and corporate governance
- Planning requirements and the importance of working capital
FORECASTING IN BUDGETING AND PLANNING
- Determine the purpose and objective of the forecast
- Statistical analytical tools
- Quantitative analysis and forecasting
- Forecasting techniques
- Agency problems in forecasting- solutions
- Causal analysis models – regression analysis
- Using Excel ® to analyse historical data
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
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
- Time-based ABC for services organisations
- 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
Providers and Associations
Providing the best training services and benefits to our valued clients
Boost certificate of completion
BOOST's Professional Attendance Certificate “BPAC” is always given to the delegates after completing the training course, and depends on their attendance of the program at a rate of no less than 80%, besides their active participation and engagement during the program sessions.
ENDORSED EDUCATION PROVIDER
Flexible deadlines
Customized dates accordance to your schedule
Shareable Certificate
Earn certificate upon completion
COURSE METHODOLOGY
Our Training programs are implemented by combining the participants' academic knowledge and practical practice (30% theoretical / 70% practical activities).
At The end of the training program, Participants are involved in practical workshop to show their skills in applying what they were trained for. A detailed report is submitted to each participant and the training department in the organization on the results of the participant's performance and the return on training. Our programs focus on exercises, case studies, and individual and group presentations.
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