Go beyond the basics of financial management to analyse in more detail what drives sales and costs. With this Advanced Budgeting training course, participants can build a budget model which makes sense for their organisation, and reflects their patterns of activity. Manage people's behaviour to achieve performance, ensuring teams are motivated, and budgets are appropriately communicated. Look at various techniques including balanced scorecard, sensitivity analysis, and some sector-specific models.
By the end of the course, participants will be able to:
Understand the budget planning processes, preparation, review and control
Discover and leverage on the different types of budgeting techniques that can be used in organisations
Demonstrate and understanding of cost' as a feature of organisations
Display a heightened understanding of cost' as a control mechanism
Exhibit a high level of understanding of cost information generation
Illustrate how cost information can be effectively retrieved, analysed and utilised for organisational effectiveness
Strategically analysis the formulation of long-run and short-run budget
Identify the principal factors required to produce a successful business case
Demonstrate their ability to utilise budgeting & financial skills required for better decision-making
Identify sources of financial and business data to support the budgeting process
Demonstrate the use of the appropriate techniques and methodologies to simulate typical business scenarios
Use Information for informed management decisions
Key Topics Covered:
Introduction to Cost, Cost Information and Review of Key Cost Concepts
How Budgeting Fits Into The Strategic Planning Process
Discussion: How is the strategic plan and budget linked and communicated in different organisations?
Why Do We Budget?
What drives profit in your organisation?
What's Wrong With How We Budget?
Beyond Budgeting Discussion: Would Beyond Budgeting work in your organisation?
Practical Budgeting Techniques
Reviewing Cost Structures For Budget Optimisation And Best Performance
New Techniques In Budgeting
Planning and Budgetary Control Systems
Budget, motivation and responsibility accounting
The use of cost management information
Creating cost-aware organizations
Product vs. Period costs
Direct and Indirect Costs
Cost behaviour: Fixed and Variable Costs
Budgeting as a Management and Organisational Control System
Control Systems and Performance Measurement
Linking process development to costing
Financial and non-financial performance measure
Designing an accounting -based performance measure