budgeting Planning & Management Reporting

Budgeting lies at the heart of business management, yet businesses often encounter planning and financial difficulties as a result of either inadequate planning, lack of understanding of the business, or errors within the compilation of the budgets. Ineffective management reports heighten the challenge in collating inputs to the budget, and use of budgeted information. This Budgeting Planning & Management Reporting training course takes a practical approach to budgeting, planning and management reporting 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

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

Day 1: Planning for Success Understanding Planning Strategies Strategy Analysis, Choice, and Implementation The Role of Strategy Maps in Defining Business Direction Effective vs. Ineffective Management Reporting Practices The Agency Problem and Principles of Corporate Governance Planning Requirements and the Strategic Importance of Working Capital Day 2: Forecasting in Budgeting and Planning Defining the Purpose and Objectives of Forecasting Applying Statistical Analytical Tools in Forecasting Quantitative Methods for Forecasting Forecasting Techniques and Best Practices Addressing Agency Problems in Forecasting: Practical Solutions Causal Analysis through Regression Models Using Excel® to Analyse and Interpret Historical Data Day 3: Budgets, Costs, and Budgetary Control Why Do We Budget? – Objectives and Strategic Purposes Planning and Control in the Budgeting Framework Building and Integrating the Budget Understanding Cost Behaviour and Classification Cost/Volume/Profit (CVP) Analysis and “What-If” Scenarios Standard Costing and Its Role in Control Flexed Budgets for Adaptive Planning Variance Analysis: Causes, Implications, and Solutions Day 4: Activity-Based Costing (ABC) and Activity-Based Budgeting (ABB) Fundamentals of Activity-Based Costing (ABC) Refinement and Development of Costing Systems ABC as a Tool for Cost Management Designing and Implementing ABC Systems The Cost Hierarchy and Identification of Cost Drivers Advantages and Limitations of ABC Systems Transitioning from Traditional Budgeting to Activity-Based Budgeting (ABB) The ABB Process and Its Applications Time-Based ABC for Service Organizations Motivation and Behavioural Dimensions of Budgeting Day 5: Measuring Corporate Performance Building an Effective Performance Measurement System Broadening Performance Measures: Beyond Financial Indicators Driving Shareholder Value through Economic Value Added (EVA®) Beyond Budgeting: Integrating Financial and Non-Financial Perspectives The Balanced Scorecard: Framework, Perspectives, and Implementation Developing Key Performance Indicators (KPIs) for Strategic Alignment