The Essentials Of Budgeting & Business Finance

This Essentials of Successful Budgeting and Business Finance course imparts the essentials of successful budgeting and business financial management. Throughout the essentials of a successful budgeting and business finance course, participants will explore various facets of finance and budgeting within the business management landscape. The essentials of a successful budgeting and business finance course focus on the internal view of an organization: strategic decision-making, budgeting, and cost control. Participants in the essentials of a successful budgeting and business finance course will better understand the overall budgeting process and how it is integral to an organization's strategic objectives. All professionals, spanning various departments, must grasp the essentials of a budget, its linkage to strategic objectives, and its critical role in managing organizations effectively. The budgeting process fosters a culture of performance measurement that permeates the organization, thus aiding in achieving business objectives.

Financial Managers. Budget Analysts. Business Owners. Accountants. Managers involved in financial planning and budgeting.

Strategy & Budgeting: Creating a “Business Finance” Culture The complexity of managing contemporary organization Strategic Plan, Budgeting, Costing and Management Control Management Accounting for organizational control systems Responsibility accounting and the process-view The Budget and its role for achieving organizational targets What is it the situation in your organization Problems and Examples - Case study illustration Issues of Budgeting The Budget and its role for achieving organizational targets The limits of the budget The Master budget and it schedules The motivational aspects of budgeting The linkages between budgeting and costing Cost classifications Problems and Examples - Case study illustration Costing for Budgeting Purposes Cost terms and methodologies Inventoriable vs. period costs Manufacturing vs non-manufacturing costs Variable vs. Fixed costs (CVP analysis) Direct vs. indirect cost Under-costing and Over-costing problems Problems and Examples - Case study illustration Flexible Budgets & Variance Analysis The budgets and performance measurement as tools for communications What is it the situation in your organization? How to improve it? The imperative of value-creation: towards value-based budgeting Describe the difference between a static budget and a flexible budget Compute flexible-budget variances and sales-volume variances Integrate continuous improvement into variance analysis Cases, problems and exercises Balanced Scorecards: Tools To Bring Finance In The Business Bringing Finance in the Business by making the strategy visible The balanced scorecard and its four perspective Implementing the balanced scorecard Setting Objectives and KPIs Developing the Strategy Maps Develop a Balanced Scorecard for your organization Exercises and Case study