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Financial Planning, Control and Budgeting

Start Date:
10 Dec 2018
QAR 8250
Course Name: Financial Planning, Control and Budgeting
Course Information
Financial analysis, planning and controlling budgets is targeted towards finding meaningful answers to the significant questions relating to the financial management of companies and determining whether or not the results are fully quantifiable.
This program presents the key financial tools and explains the broader context of how and where they are applied to obtain meaningful answers. It provides a conceptual backdrop both to the financial/economic dimensions of systematic business management and to understanding the nature of financial statements, analyzing data, planning and controlling. This program will help delegates to understand the jargon and methodology of financial planning, forecasting, budgeting and analysis to enable them to contribute more effectively to their organizations further.
Upon completion of the program the participants will be able to understand:
 •What is the exact nature and scope of the issue to be analyzed?
•Which specific variables, relationships and trends are likely to be helpful in analyzing the issue?
•Are there possible ways to obtain a quick ballpark estimate of the likely result, and how precise an answer is necessary in relation to the importance of the issue itself?
•How reliable are the available data, and how is this uncertainty likely to affect the range of results?
•Should cash flow or accounting profit be used to evaluate the financial implications of a decision?
•What limitations are inherent in the tools to be applied and how will these affect the range of results obtained?
•How important are qualitative judgments in the context of the issue and what is the ranking of their significance?
•How do we interpret the financial impact of strategic decisions?
•How should we forecast and plan at a business level?
•How do we distinguish between different cost systems?
•How do we manage corporate budgeting, variance analyses and the monitoring of business performance?
•How do costs behave and how does activity based costing analysis help with an understanding of the problems of overhead allocation, decision-making and pricing strategies?
Target audience
This program is a must for Chief Financial Officers, Financial Planners, Financial Controllers, Finance Professionals and Executives, Accountants, Treasurers, Corporate Planning and Business Development Professionals, Sales and Marketing Professionals, senior Accountants.
Business professionals with direct or indirect financial responsibilities and personnel who manage departments with budgetary plans and who are responsible for cost and strategic analysis will also find this program highly useful in their career advancement.
All participants will be able to offer their input, based on their individual experiences and will find that the program provides a forum that gives an opportunity to consider new ideas and methods and for upgrading and enhancing their understanding of corporate finance and budgeting best practices.
Pre-requisite knowledge for the course may be obtained through prior certified learning or experiential learning at the workplace. Please consult with your line manager, training manager or equivalent.
Course Structure
The program is based on a combination of interactive activities, team and individual exercises, case studies and discussions.
Course Facts
Duration: 5 days
Program Contents
DAY 1 - Module 1: The Challenge of Financial/Economic Decision-making
 •The Practice of Financial/Economic Analysis
•The Value Creating Company
•A Dynamic Perspective of Business
•The Nature of Financial Statements
•The Context of Financial Analysis
Module 2: Assessment of Business Performance
 •Ratio Analysis and Performance
•Management Point of View
•Owners Point of View
•Lenders Point of View
•Ratios as a System
•Integration of Financial Performance Analysis
•Some Special Issues
DAY 2 - Module 3: Projection of Financial Requirements
 •Pro Forma Financial Statements
•Cash Budgets
•Operating Budgets
•Interrelationship of Financial Projections
•Financial Modeling
•Sensitivity Analysis
•Dynamics and Growth of the Business System
•Financial Growth Plans
Module 4: Analysis of Investment Decisions
 •Cash Flows and the Time Value of Money
•Components of Analysis
•Methods of Analysis
•Applying Time-Adjusted Measures
•Strategic Perspective
•Decisional Framework
•Refinements of Investment Analysis
•Dealing with Risk and Changing Circumstances
•Cost of Capital and Business Decisions
•Weighted Cost of Capital
•Cost of Capital and Return Standards
Module 5: Valuation and Business Performance
 •Definitions of Value
•Value to the Investor
•Business Valuation
•Managing for Shareholder Value
•Shareholder Value Creation in Perspective
•Evolution of Value-Based Methodologies
•Creating Value in Restructuring and Combinations
DAY 3 – Module 6: Strategic Planning for Setting Budgets
 •Understanding what strategic planning is and why it is important
•Clarify the difference between vision, mission statement, goals and objectives
•The external environment: the need to understand the economic cycle
•SWOT and PESTEL analysis
•Tying the strategic plan to the budget
Module 7: Financial Planning - Elements of Costing and Cost Strategies
 •The nature and behavior of costs, fixed, variable, semi-variable, direct and indirect costs
•Standard and actual costing: the difference
•Understanding overheads
•Calculating the variances at a detailed level to give real meaning to them
•Activity Based Costing ABC
•Absorption and marginal costing
•Break even analysis: cost volume profit analysis
 DAY 4 – Module 8: Forecasting and Preparing the Business Estimates
 •The purpose of forecasts for the business
•Limiting factor analysis
•Using the three main financial statements for forecasting
•Forecasting Methods
•The most useful forecasting techniques
•Quantitative approaches
•Qualitative approaches
•Forecasting methods demonstrated
•How to predict sale revenues: different approaches
Module 8: Forecasting Case Study-  Budgeting - The Corporate Budgeting Process
 •Understanding the benefit of budgeting to an organization
•Budgets' forms and purposes; the master budget
•Preparing, coordinating and monitoring a budget
•Alternatives to traditional budgeting, including beyond budgeting, zero base budgeting and activity based budgeting
•Should we budget for customer satisfaction?
Module 9: Presenting a Business Budget
 •Giving clear information
•Presenting the main variables
•Negotiating agreement
•Putting it clearly onto paper
•The budgets and performance measurement as tools for communications
•Budgets and issues of motivation
Budgeting Case Study
DAY 5 – Module 10: Tracking Expenditure for Performance
 •Fixed and flexible budgets: more meaningful metrics and control
•Reconciling actual with budgeted expenditure
•Critical variances
•Material: Price v Quantity
•Mix v Yield
•Labor: Rate v Efficiency
•Identifying cost saving opportunities
•Looking for volume discounts
•Phasing expenditure to help cash flow
Module 11: Controlling the Budget Variances
 •Interpreting the variance analysis report
•What is critical & what is not
•Creating accountability
•Action planning - the essential next steps
•What next?
Module 12: Capital Budgeting
 •Capital budgeting overview
•Accounting Rate of Return
•Net Present Value
•Profitability Index
•Internal Rate of Return
•Modified Internal Rate of return
•Project abandonment
•Capital rationing: an introduction

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