Budgeting, Planning And Management Reporting

Category: Budgeting, Planning And Management Reporting

Course Description

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 programme takes a practical approach to financial planning for the organisation 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

Course Objectives

  • 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

Course Outline

  • 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
  • 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
  • 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)
  • 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
  • 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