Advanced Budgeting Workshop

Course details

• Acquire best practices in budgeting
• Understand the strategic role of cost concepts
• Explain the costs concepts to the use of cost information for management control
• Describe the role of budgets in the management process
• Discuss the importance of strategy and its role in the master budget
• Prepare a master budget and explain the inter-relationships among its supporting schedule
• Understand zero-base, activity-based, and kaizen approaches to budgeting
• Explain the essence of control systems
• Develop flexible budgets for evaluating short-term financial performance
• Identify different cost control measures
• Measure and evaluate performance

• Project management methods
• Budgeting Overview
• The budgeting process
• How and whom to engage
• Budgetary statements
• Budgeting Methods
• Top-down & bottom-up budgeting
• Zero-based versus activity based budgeting
• Types of Budgets
• Departmental budgets
• Cash budgets
• Capital and operating budgets
• Master budgets
• Types of Costs
• Fixed & variable costs
• Controllable & uncontrollable costs
• Budgeting and Forecasting
• Creating forecast for revenue and expenditure
• Rolling forecast as a catalyst for change
• Variance reporting template
• Reporting template
• Financial and non-financial key performance indicators (KPIs)
• Annual Budget and Forecasting Cycle
• Budget and forecasting timetable
• The different types of reports and their use
• Risk Management
• Risk management in corporate governance
• Finance' role in supporting risk management
• Cost Control and how to reduce costs
• Cost management and motivation
• Embedding cost control in the business