* All fees are exclusive of vat ** PREMIUM - Customize your learning experience
This training course provides an overview of the essential tools and the skills to build world-class standards into your planning, budgeting, performance measurement & reporting system, looking at new and best practice techniques, explain how they complement the traditional financial planning tools, and introducing new concepts for measuring and reporting performance to enhance shareholder wealth creation or provide value for money for Stakeholders.
What Do Participants Learn?
• Implementation of advanced planning and control techniques into your budgeting process • integration of the budgeting process with the company’s long-term strategic vision • Creation of decision support structure that provides useful information to decision makers. • Successfully build integrated planning, budgeting and reporting process • Forecasting costs and revenues. • Apply management tools to the budgeting process that contribute to strategic goals • Effectively manage the budgeting process • Identify key performance indicators for effective and focused decision making • Increase profitability and performance through streamlined planning and reporting
Who Should Attend?
All professionals responsible for budget preparation and management reporting
Who require a more in-depth understanding of integrated planning and budgeting techniques,
Personnel wanting to understand more about Financial planning and cost analysis
Anyone with direct planning and budgeting responsibility, as well as managers, budget holders, advisors, accountants and business consultants.
What Will the Learning Experience Include?
Comprehensive pre-program activities include:
Web-based information forms & surveys completed by attendee.
Direct consultation with the attendee about the expectations.
During the training, participants engage in data, activities, and conversations that lead to insight and knowledge.
Participants learn from expert trainers who have both academic and business experiences.
Highly applicable training content & instructive activities for adding depth to training topics.
**A half-day site visit for integrating the experience & plan next steps. Opportunities to provide connections, ideas & support.
Explore & Practice
Apply & sustain the learning experience by using this ongoing support:
To ensure participant has new skills or behavior progress.
Optional, fee-based mentoring & coaching with the trainer.
Training materials & additional documents (e-books, pdf files, presentations and articles)
Evaluate your training experience by giving us feedbacks and help us to reach our organizational goals.
Section One: Budgets in Today’s International environment
• Organizational Planning and Control Framework • The Product / Information / Decision Support Cycle • Strategic, Tactical, and Operational Forecasts • The recognition of risk in Models • Using Budget Models for Simulation Purposes • The Drive toward Shareholder Value (EVA®) The Strategic Plan • The purpose of planning and budgeting in business • Defining the strategic approach to business planning • Defining strategic assumptions • Building the strategic planning model using financial data • Various strategic and tactical approaches to business planning • Defining the Decision-Support model: Assumptions/Goals and Key Success Factors
Section Two: Analysing the Historical Data Using Excel
• Recognizing the Basic Patterns Inherent in Historical Data • Using the Exploratory Data Analysis Tools Available in Excel® • Development of Time Series Models using histograms, moving averages, exponential smoothing, and regression analysis • Using Regression Analysis as a predictor and estimator • Mastering the use of Exponential Smoothing as a Data Analysis tool • Single Regression vs. Multiple Regression • Validation of Time Series Analysis
Section Three: Approaches to Budget Development
Types of Budgets
• Zero Base Budgeting • Activity-based Budgeting • Rolling Budgets • Operational Unit Budgeting • Programme budgeting • Developing the Cash Budget Using Activity-based Budgeting • Developing the ABB application model • Budgeting for Processes rather than Departments • Defining Key Cost Drivers • Defining Key Activities • Development of ABB Cost Standards • Developing the Activity-Based Budget
Section Four: Strategic and Operational Cost Analysis Techniques
• Identifying fixed, variable and semi-variable costs • Application of Regression in the development of budgets • Building the financial simulation model using articulated financial statements • Building the financial simulation model using simulation Developing Manufacturing Standards • Material Standard Development • Labour Standard Development • Factory and Corporate Overhead Standard Development • Variance Analysis
Section Five: Defining and Testing Optimisation Techniques in Models Using Excel
• Basic Structure of All Optimisation Models • Different Forms and Applications of Optimization Models • Developing a Financial Optimisation Model • Performing Sensitivity Analysis of an Optimisation Model • Interpreting the Solution of an Optimisation Model to a Non-technical Manager • Lessons Learned