Budgeting lies at the heart of business management, yet businesses often encounter financial difficulties as a result of either inadequate planning or errors within the compilation of the budgets.

This program takes a practical approach to financial planning for the organization and considers the following:

• The planning process and how to improve it
• The compilation of budgets – who needs to be involved and why;
• How to identify potential problems arising and suggests actions which can be taken
• 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 stream lined planning and reporting

• Professionals responsible for budget preparation and management reporting
• Process owners who require a more in-depth understanding of integrated planning and budgeting techniques, along with Financial planners and cost analysts
• Anyone with direct planning and budgeting responsibility, as well as advisors, accountants and business consultants

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 behavioral 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

A variety of methodologies will be used during the course that includes:

·         (30%) Based on Case Studies

·         (30%) Techniques 

·         (30%) Role Play

·         (10%) Concepts

·         Pre-test and Post-test

·         Variety of Learning Methods

·         Lectures

·         Case Studies and Self Questionaires

·         Group Work

·         Discussion

·         Presentation

This rate includes participant’s manual, Hand-Outs, buffet lunch, coffee/tea on arrival, morning & afternoon of each day.

Daily Course Timings:

    08:00 - 08:20       Morning Coffee / Tea

    08:20 - 10:00       First Session

    10:00 - 10:20       Coffee / Tea / Snacks

    10:20 - 12:20       Second Session

    12:20 - 13:30       Lunch Break & Prayer Break

    13:30 - 15:00       Last Session