Financial Analysis, Planning & Controlling Budgets PetroTech

This seminar brings together important areas of financial management, planning and control: Financial Analysis, Planning and Control; Setting & Controlling Budgets. It will help business professionals:

  • Plan more effectively for the future
  • Use the financial techniques of planning and control
  • Improve performance from the use of the tools of financial analysis
  • Link planning and budgeting with costing and performance measurement
  • Master the skills of budgetary and cost control

Objectives

The seminar provides delegates with the knowledge required to find better answers to questions such as:

  • Which specific variables, relationships, and trends are likely to be helpful in analysing problems?
  • How reliable are available financial data, and how is uncertainty and risk likely to impact on the outcomes of decisions?
  • In economic and financial analysis what are the implications and relative importance of cash flow as distinct from accounting profit?
  • What limitations are inherent in financial data and the key financial statements, and how will these affect financial analysis?
  • How important are qualitative judgments in the context of decision-making?

and to focus on key issues such as:

  • Understand strategic planning and budgeting.
  • Link finance and operations for budgeting purposes and strategy execution
  • Learn how to build a comprehensive performance measurement system
  • Learn costing and budgeting terminology used in business
  • Understand the importance of a well-defined costing and budgeting process
  • Understand cost behaviour more accurately
  • Be able to perform and interpret variance analysis

Conference Methodology

The seminar includes numerous practical examples and real life illustrations, and participative exercises and case studies. It will be presented in a very user-friendly way to suit individuals with varying levels of financial knowledge and experience. Our aim is for this to be an enjoyable learning experience. The training methodology combines presentations, discussions, team exercises and case studies. Delegates will gain both a theoretical and a practical knowledge of all the topics covered. The emphasis is on the practical application of the topics and as a result delegates will return to the workplace with both the ability and the confidence to apply the techniques learned.

All delegates will receive a comprehensive manual of the seminar to take back to the company, which will serve as a useful source of reference in the future. In addition, all delegates will receive a CD containing a soft copy of the manual and additional material such as Excel models used during the seminar.

Organisational Impact

  • Recognise the importance of finance as a component of the strategic decision-making process
  • Appreciate the significance of the theoretical concepts underlying the use of financial tools in the strategic decision-making process
  • Apply the appropriate financial tools in the strategic decision-making process
  • Identify the impact of external factors on a company's strategic financial plans and decision-making
  • Organisations should benefit from an increase in the ability of their managers to understand and analyse the key financial statements and anticipate the financial factors that form the basis of strategic decision-making, which should ultimately result in better strategic planning, and improved company performance.

Personal Impact

This seminar will enable delegates to:

  • Broaden their financial knowledge, develop and manage the financial aspects of their role more effectively, and enhance their performance
  • Increase their self-confidence in dealing with financial issues and financial professionals.
  • Have a better understanding of how financial considerations help to support an organisations' strategic decisions
  • Better appreciate how such decisions may affect their own departments or business units, as well as their companies
  • Acquire the ability, when involved in decisions about investment, operations, or financing, to choose the most appropriate tools from the wide variety of financial techniques available to provide a quantitative analysis

Financial Analysis, Planning and Control

CONFERENCE OUTLINE 

The Challenge of Financial Economic Decision-Making

  • The practice of financial economic analysis
  • Corporate value and shareholder value
  • A dynamic perspective of business Benchmarking your own strategic position/competitor analysis
  • The agency problem and corporate governance
  • What information and data to use?
  • The nature of financial statements
  • The context of financial analysis and decision-making

Assessment of Business Performance

  • Ratio analysis and business performance
  • Management's point of view
  • Owners' point of view
  • Lenders' point of view
  • Ratios as a system - pyramids of ratios
  • Integration of financial performance analysis - the Dupont system
  • Economic value added (EVA)
  • Predicting financial distress

Projection of Financial Requirements

  • Interrelationship of financial projections
  • Operating budgets
  • Standard costing and variance analysis
  • Cash forecasts and cash budgets
  • Sensitivity analysis
  • Dynamics and growth of the business system
  • Operating leverage
  • Financial growth plans
  • Financial modelling

Analysis of Investment Decisions

  • Applying time-adjusted measures
  • Net present value (NPV) and internal rate of return (IRR)
  • Strategic perspective
  • EVA and NPV
  • Refinements of investment analysis
  • Equivalent annual cost (EAC)
  • Modified internal rate of return (MIRR)
  • Sensitivity analysis, scenario analysis, simulation, and NPV break-even
  • Dealing with risk and changing circumstances

Valuation and Business Performance

  • Managing for shareholder value
  • Shareholder value creation in perspective
  • Evolution of value-based methodologies
  • Creating value in restructuring and combinations
  • Financial strategy in acquisitions
  • Business valuation
  • Business restructuring and reorganisations
  • Management buy outs (MBOs) and management buy ins (MBIs)

Setting and Controlling Budgets

Strategic and Financial Planning

  • Financial vs. managerial accounting
  • Exploring the linkages between strategy, budgeting, costing and performance measurement
  • Understanding what strategic planning is and why it is important
  • Mission; Vision; Strategy; Goals and Objectives
  • The outside environment and the internal context: SWOT and PESTEL analysis
  • What is happening in your company
  • Looking for the drivers of value creation
  • Examples and cases

The Framework for Budgeting

  • What is a budget - why create a budget?
  • The budgeting framework
  • Various types of budgets
  • The budgeting process and the human side of budgeting
  • Sales forecasting and budgeting schedules
  • What is the budgeting process in your company?
  • Top down vs. bottom-up budget; incremental vs. zero-based
  • Examples of budgetary schedules

Cost Analysis for Budgeting

  • What is costing? Defining costs
  • Cost behavior - Fixed and variable
  • Breakeven models - The Equation Method
  • The contribution margin concept
  • Direct and indirect costs
  • Traditional vs. Activity Based Costing
  • Product vs. period costs
  • Case study and examples

Budgeting: case study day - Controlling the budget variances

  • What is the situation in your organization?
  • Is budgeting organized by department and/or projects?
  • Budget variance analysis
  • Describe the difference between a static budget and a flexible budget
  • Compute flexible-budget variances and sales-volume variances
  • Explain why standard costs are often used in variance analysis
  • Integrate continuous improvement into variance analysis
  • Case study, examples and exercises

Beyond Budgeting: Broadening Performance Measurement Systems

  • Advantages and disadvantages of budgeting
  • How to improve budgeting in your organization
  • What next? Beyond the Budget…
  • The Balanced Scorecard: linking Strategy to budgeting to Performance Measurement
  • Financial perspective, Customer perspective
  • Internal Business Process perspective, Learning and growth perspective
  • Developing and adapting the scorecard
  • Case study illustration

Knowledge

The adage that “knowledge” is power holds very true in this industry. In order to maximize results we are constantly updating and upgrading ourselves. This commitment to ongoing skills development is one of the reasons we are success, the belief that there is a “better way to do things” is what motivates us each and every day. By aligning with us you are going to benefit from our years of expertise in real world scenarios. Classroom learning is great but there is no substitute to real world experience which is what we are bringing to the table.

Quality

Billionaire investor Warren Buffett said “price is what you pay but quality is what you get” and that expression is very true. With use we understand that your time is very valuable and you only want the best and most current industry related knowledge which is what we bring to the table.  Instead of giving you massive amounts of inaccurate or outdated information you get precisely what you want, the most current knowledge so you can make truly informed decisions that will directly impact productivity and your bottom line. When results are what you are looking for then the choice is clear, we are your partners in success.

Innovation

Technology has revolutionized the way knowledge is disseminated in throughout the world, what use to take months or even years to reach the masses can be done in a few hours ! In order to remain relevant and viable we need to embrace innovations. The challenge with innovation is knowing when to implement it and what type of return you can expect from it. Instead of risking your time and resources we have the answers for you, Since we are at the vanguard of the industry whenever there is a fruitful innovation we will be there providing you with the information needed to make the right decision.

Respect

We understand you may have unique need so we provide a tailored made (bespoke for our U.K. friends) approach that will address your questions in the most conducive manner possible.  Respect to us means putting your interests, your needs at the forefront of our mind. You will see how genuine we are and that you not just “some customer” you are our partner in success just as much as we are your partner in success. We firmly believe in the “golden rule”, treat others with graciousness, courtesy and respect.  Come experience the difference that quality and respect makes and you will truly be amazed.

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