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- Payment Terms: Enquire
- Duration / Course length: 5 Days
- Starting Date: Enquire About It
- Timings: Enquire
Course details
OverviewManagers have financial responsibilities and many have budgets to write and control and face manydecisions that require forecasting and planning preparing their budgets. Using Oil and gas industryexamples and exercises this course aims to break down some of the financial barriers in an entertaining andinformative style with numerous examples. Bring your calculator. It gives an insight into the world ofbudgeting for financial and non-financial managers and professionals.
Objective
- Define Planning and its Purpose
- Describe the Planning and Budgeting Cycle
- Explain the Strategic Planning Process
- Describe the Major Elements of the Annual Business Plan
- Understand why you must link budgeting and forecasting to planning and performance
- Describe and Perform the Basic Steps in Preparing a Comprehensive (Master) Budget
- Prepare a Capital Budget
- Determine and Investigate Budget Variances
Who Should Attend
Those who are, or will be, financial decision-makers working with accountants involved informulating, planning and implementing business strategy. Expertsin their fields who need to acquire expertise in budgeting.
Course Outlines
Day 1: Introduction
- The Planning Process
- Need and system of Plans
- Steps in Developing the Near-Term Sales Plan
- Sales Forecasting
- How to measure cost behaviour using the account analysis high-low visual-fit and least-squares regression Methods?
Day 2: Budget and Budgeting
- Definition of Budget
- Strategic Focus on Budgeting
- What are the Advantages of Budgets?
- Management Support
- Time Coverage of Budgets
- Types of Budgets
Day 3: Budgeting and Planning
- Strategic Planning and Budgeting Process
- Why must you link budgeting and Forecasting to Planning and Performance?
- Budget Participants and Budget Preparation Procedure.
- Participative Budgeting and the Importance of Communication in an Effective Planning Process.
- Building the Budgeting Model
- Prepare the budget structure
- Writing the budges
- Monitoring
- Comprehensive (Master) Budgeting
- How to manage the cash Resource
- Objectives of Cash flow and Working Capital Management
- Cash flow Reporting
Day 4: Capital Budgeting
- What is Capital Expenditure?
- Nature of Capital Investment Decisions
- What is Capital Budget?
- Stages of Capital Budgeting Process
- Relevant Cash Flows
- Methods of Evaluating Capital Investments
Day 5: Budgeting and Control
- Flexible Budget and Overhead Analysis
- The advantages of the flexible budget approach over the static budget approach.
- Prepare a performance report for variable and fixed overhead costs using the flexible budget approach.
- Use the flexible budget to prepare a variable overhead performance report containing only a spending variance
- Use the flexible budget to prepare a variable overhead performance report containing spending and efficiency variance.
- Explain the significance of the denominator activity figure in determining the standard cost of unity of the product.
- Apply overhead cost to units of product in a standard cost system.
- Compute and interpret the fixed overhead budget and volume variances.
- Variances Investigation
Job roles this course is suitable for:
accountant , Internal Auditor (Operational Audits) , General Accounting LeadAbout London Training For Excellence
Empowering Professionals for Over a Decade
London Training for Excellence is a leading provider of professional development programmes, established in 2013. For over eleven years, we have been committed to equipping individuals and organisations with the skills and knowledge they need to excel in today's ever-evolving business landscape.
A Breadth of Expertise
We offer a comprehensive range of training solutions across a diverse set of industries, including:
- Artificial Intelligence (AI): Stay ahead of the curve with cutting-edge training on AI applications, machine learning and data analysis.
- Contact Management: Learn best practices for building and nurturing relationships, managing communication workflows and leveraging technology to optimise your outreach efforts.
- Engineering: Enhance your technical expertise and stay current with the latest advancements in various engineering fields.
- Finance and Legal: Gain a deep understanding of financial concepts, legal frameworks and compliance requirements.
- Human Resources: Navigate the complexities of HR practices, from recruitment and onboarding to employee relations and performance management.
- Leadership and Management: Develop your leadership skills, communication techniques and team-building strategies.
- Logistics: Optimise your supply chain operations and ensure efficient delivery of goods and services.
- Marketing and Sales: Develop effective marketing strategies, hone your sales skills and drive business growth.
- Oil and Gas: Gain specialised knowledge and skills relevant to the oil and gas industry.
- Project Management: Master the art of project planning, execution and delivery to ensure successful project outcomes.
Our Approach
At London Training for Excellence, we believe in delivering high-quality, interactive training programmes that cater to diverse learning styles. Our experienced instructors are industry experts who combine theoretical knowledge with practical application.
Flexible Learning Solutions
We understand that busy professionals require flexible learning options. We offer a variety of delivery methods to suit your needs, including:
- In-person training: provides more significant face-to-face interaction. In a classroom setting, attendees can connect in real-time. In-person training also offers more opportunities for group activities and interactive projects.
- Online Courses: Our comprehensive online courses allow you to learn comfortably in your working environment.
- In-Company Training: Tailor training programmes specifically for your organisation's needs and deliver them on-site for maximum impact and employee convenience.
Investing in Your Success
By investing in training and development with London Training for Excellence, you will gain the knowledge and skills necessary to achieve your professional goals and contribute to the success of your organisation.
Contact Us Today
Let London Training for Excellence help you unlock your full potential and drive positive organisational change. Contact us today to discuss your training needs and explore how we can empower your workforce for the future.
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