Budgeting, Planning & Management Reporting

ICTD International Centre for Training and Development

ICTD International Centre for Training and Development

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Who should attend

  • 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

About the course

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

## 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

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

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Budgeting, Planning & Management Reporting at ICTD International Centre for Training and Development

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