:: DEFINE | Management Consultancy & Training Provider In UAE, Abu Dhabi,Dubai,Saudi Arabia ::

BUDGETING, PLANNING & FINANCIAL REPORTING

Location

Dubai, UAE

Date

From Date: 03-Feb-2025
To Date: 07-Feb-2025

Duration

5 DAYS

Language

ENGLISH

Discipline

ACCOUNTING,FINANCE

Introduction

Planning and budgeting techniques are used today everywhere as a pivotal tool for conscious allocation of resources and for monitoring their performance, paving the way for achieving a timely and effective cost control.

The course focuses on the internal view of an organization, planning, cost, and control systems. This course will facilitate a fresh understanding of the planning process with special emphasis on budgeting aspects. It will also cover the most recommended important control mechanisms aiming to enhance participants’ performance and their capability of conducting very informed decision making which facilitates timely and courageous corrective actions.

Objective

By the end of this course, participants will be able to:

Determine full costs of outputs for the goods and services provided.
Conduct a Cost Volume Analysis (CVA), applying it to multiple cost drivers to make recommendations for program management.
Apply Variance Analysis as a management tool to analyze performance-based budgets and determine where you stand in achieving your performance goals.
The purpose of budgets
- Motivation
- Targets
- Benchmarking
- Control
- Responsibility

Types of budgets
- Fixed
- Flexible
- Rolling
- Zero based
Stages of preparation
Cash budgets – cash flow forecasts
Master budgets – P & L and Balance Sheet
Initial steps in constructing a spreadsheet model.

TRAINING STYLE:

The course will be conducted along workshop principles with formal lectures, case studies and interactive worked examples. Relevant case studies will be provided to illustrate the application of each tool in an operational environment. Each learning point will be re-reinforced with practical exercises. Difficult mathematical concepts will be simplified wherever possible and handled in a visual way that makes them easy to understand, especially with examples demonstrated.

Audience

The course is designed to cater for the training needs of the following:

Finance staff responsible for administering data into the budget system or training others in how to handle budget information.
Those who want to gain control of the firm's financial standing and obtain a firm grasp on the numbers side of their job.
Line Managers, Financial Professional, Professionals, R&D staff, Sales/Marketing Professionals, General Accounting Professionals, Business Unit Professionals

Content

This outline acts as a guide only. Course content will reflect participant requirements on a consensus basis. The following therefore is a tentative outline of the course materials. Practical examples, group exercises and case studies will be utilized throughout the course. The content presented during any given class may vary depending on the background and experience of the participants.

Budgeting and the Management Process

What is a budget?
Why creates budgets.
Strategy - direction and vision
Implementing strategy - the operational planning process
Budgets - the financial expression of the operating plan
The purpose of budgets - control
The human side of budgeting

Case study, part 1- roles and responsibilities of the team

The Framework for Budgeting

Elements of the budget framework
The financial statements
Advantages and limitations of budgets
Reporting - the key to control

Developing the Revenue Budget

Scanning the surrounding environment
PEST; SWOT; Porter 5 Forces, Organization Appraisal Analysis
Scenarios and Sensitivity Analysis
Operating versus non-operating revenue
Revenue recognition versus sales
Sales forecasting
Profitable growth and the cost of capital
Pricing considerations

Case study, part 2 - the sales forecast & preparation of financial statements

Budgeting Costs and Expenses

Cost, profit, volume relationships
Cost of service provided.
Operating expenses - selling, G&A, R&D
Directly variable expenses
Fixed expenses
The allocation problem
Assignable and non-assignable expenses
EBIT, EBITDA

Case study, part 3, budgeting operating profit.

Accountability for Results

The business unit statement
Budget could turn out to be irrelevant.
Flexing budget
Variance analysis
Floor Budgets
Ceiling Budgets
Drilling down for causes of variance
Favorable Variance Vs. Unfavorable Variance
Priorities
Long term versus short-term results
Contingency plans
How not to cut a budget

Case study, part 4, profit center statement

Case Studies, Practical Exercises, Discussions & Last review, Pre & Post Assessments will be carried out.

……………………………

Certificate

Define Management Consultants Certificate of course completion will be issued to all attendees.

Methodology

A highly interactive combination of lecture and discussion sessions will be managed to maximize the amount and quality of information, knowledge and experience transfer. The sessions will start by raising the most relevant questions and motivate everybody to find the right answers. The attendants will also be encouraged to raise more of their own questions and to share developing the right answers using their own analysis and experience.

All presentations are made in excellent colorful power point. Very useful Course Materials will be given.

30% Lectures
30% Workshops and work presentation
20% Group Work& Practical Exercises
20% Videos& General Discussions

Course Details