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Finance and Accounting Courses

Preparing Budgets


Introduction:

Budgets are an essential financial tool, which aid, planning, decision making, resource allocation, coordination, and control.

Without the necessary skills Budgets can be badly prepared and/or implemented leading to poor decisions, mid-use of vital resources, poor coordination, and a lack of control or even too much control resulting in missed opportunities.

This program provides participants with the skills necessary for the effective preparation and implementation of budgets

Targeted Groups:

  • Finance Managers
  • Finance Controllers Treasurers
  • Inventory Managers
  • Financial Professionals
  • R&D Professionals
  • General Accounting Professionals
  • The Staff Person who will be 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
  • Anyone who wants to understand the basics of budgeting

Course Objectives:

At the end of this course the participants will be able to:

  • Develop the skills to Plan Budgets within a sound Strategic Plan
  • Develop the skills to Prepare Budgets using:
  • Appropriate Forecasting Techniques including Time Series Models,
  • Understand the Exponential Smoothing, Regression and Correlation Analysis and Costing Methods such as Activity Based Costing
  • Develop the skills to effectively implement Budgets
  • Become aware of the problems/limitations of budgets and the conditions required for their success
  • Integrate the budgeting process with the development of the company’s long-term strategic vision

Targeted Competencies:

  • Integrating the planning process with the budgeting cycle
  • Forecasting using various models including Time Series Models, Exponential
  • Smoothing, Regression and Correlation Analysis using Excel and leading software/models
  • Sales Budgets
  • Production Budgets
  • Cash Budgets
  • Capital Budgets

Course Content:

Unit 1: Budgeting and Its Role Within the Management Process:

  • The Role of Budgeting within Management Accounting
  • Linking Costing and Budgeting to Strategy and Performance Measurement
  • The Process of Value Creation: Implications for Budgeting
  • What is a budget and why costing is fundamental?
  • Budgets - The Financial Expression of the Operating Plan
  • Linking Financial and Operational Issues
  • Behavioral Implications of Budgeting

Unit 2: Costs Analysis for Budgetary Purposes:

  • Costing for Budgeting: Why?
  • Cost Terms and Purposes
  • Fixed and Variable Costs
  • Cost, Volume, Profit (CVP) Relationships
  • The Key Concept of Contribution Margin
  • Direct and Indirect Cost – The Allocation Problem
  • Traditional Methods vs. Activity-Based Costing (ABC)

Unit 3: The Framework for Budgeting:

  • Elements of the Budgeting Framework
  • Key Concepts and Terminology
  • Advantages and Disadvantages - critical issues to be discussed
  • Overview of the Financial Statements
  • Balance Sheet, Income Statement, and the Statement of Cash Flows
  • Introducing Cost Analysis for Decision-making
  • The Importance of Understanding Full Costs

Unit 4: Flexed Budgets and Variance Analysis:

  • Budgeting for Management Control Purposes
  • Explain Why Standard Costs are used in Variance Analysis
  • Describe the difference between a Fixed Budget and a Flexed Budget
  • Compute Flexed Budget Variances and Sales Volume Variances
  • How to interpret variance analysis?
  • Integrate continuous improvement into Variance Analysis
  • Is budgeting enough?

Unit 5: Beyond Budgeting: Broadening Performance Measurement Systems:

  • Shortcomings of Traditional approaches to Budgeting and Measurement
  • Linking Financial to Operational Issues
  • Linking Strategy to Performance Measurement
  • The Balanced Scorecard and Six Sigma
  • Financial Perspective
  • Customer Perspective
  • Internal Business Process Perspective
  • Learning and Growth Perspective
  • Developing and Adapting the Scorecard


UAE (Dubai)
26/12/2021 - 30/12/2021
Euro 2500
UAE (Dubai)
19/9/2021 - 23/9/2021
Euro 2500
UAE (Dubai)
9/5/2021 - 13/5/2021
Euro 2500
Egypt (Cairo)
27/6/2021 - 1/7/2021
Euro 2500
Egypt (Cairo)
26/9/2021 - 30/9/2021
Euro 2500
Morocco (Casablanca)
30/5/2021 - 3/6/2021
Euro 2500
Jordan (Amman)
5/12/2021 - 9/12/2021
Euro 2500
UK (London)
6/12/2021 - 10/12/2021
Euro 4500
UK (London)
17/5/2021 - 21/5/2021
Euro 4500
Egypt (Sharm El-Sheikh)
27/6/2021 - 1/7/2021
Euro 2500
Egypt (Sharm El-Sheikh)
15/8/2021 - 19/8/2021
Euro 2500
Malaysia (Kuala Lumpur)
26/12/2021 - 30/12/2021
Euro 3500
Malaysia (Kuala Lumpur)
25/7/2021 - 29/7/2021
Euro 3500
Turkey (Istanbul)
27/6/2021 - 1/7/2021
Euro 3000
Turkey (Istanbul)
14/3/2021 - 18/3/2021
Euro 3000
Turkey (Istanbul)
14/11/2021 - 18/11/2021
Euro 3000
Turkey (Istanbul)
22/8/2021 - 26/8/2021
Euro 3000
France (Paris)
3/5/2021 - 7/5/2021
Euro 4500
France (Paris)
1/11/2021 - 5/11/2021
Euro 4500
Switzerland (Geneva)
20/9/2021 - 24/9/2021
Euro 4500
Spain (Barcelona)
22/11/2021 - 26/11/2021
Euro 4500
Spain (Barcelona)
28/6/2021 - 2/7/2021
Euro 4500
Italy (Rome)
19/7/2021 - 23/7/2021
Euro 4500
Manama (Bahrain)
6/6/2021 - 10/6/2021
Euro 2500
Manama (Bahrain)
7/11/2021 - 11/11/2021
Euro 2500
Oman(Muscat)
10/10/2021 - 14/10/2021
Euro 2500
Kuwait (Kuwait)
13/6/2021 - 17/6/2021
Euro 2500
Spain (madrid)
31/5/2021 - 4/6/2021
Euro 4500
Spain (madrid)
6/9/2021 - 10/9/2021
Euro 4500
Singapore (Singapore)
19/7/2021 - 23/7/2021
Euro 4500
USA (Boston)
6/12/2021 - 10/12/2021
Euro 5000
Netherlands (Amsterdam)
9/8/2021 - 13/8/2021
Euro 4500
Canada (Toronto)
27/9/2021 - 1/10/2021
Euro 5000
Germany (Munich)
28/6/2021 - 2/7/2021
Euro 4500
Online
25/7/2021 - 29/7/2021
Euro 1250
Online
19/12/2021 - 23/12/2021
Euro 1250
Online
30/5/2021 - 3/6/2021
Euro 1250