Budget Preparation and Control

Overview

The aim of the course is to prepare the students to the use of budgets in business organizations. It aims to help students to apply financial disciplines to the management of organizations as well as to set up and operate a budgetary control system. The course is intended to be a useful practical aid to all students who want to go deeply in understanding the work of the budgetary control within a business firm.

Modern businesses are an epitome of uncertainty and complexity. Over the period, this uncertainty and complexity in business has led to the development of various managerial tools, techniques and procedures useful in managing business successfully. Of all these, budgeting is the most common and widely used standard device for planning and control. This course provides fundamental understanding of budgeting, budgeting process and includes a practical guide for preparing and mastering financial budgets

 

Training Methodology

The Budget Preparation Skills training 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 operations environment. Each learning point will be reinforced with practical exercises. Difficult mathematical concepts are minimised and handled in a visual way that is easy to understand with examples demonstrated.

 

This interactive training course includes the following training methodologies as a percentage of the total tuition hours:

  • 30% Lectures, Concepts, Role Play
  • 30% Workshops & Work Presentations, Techniques
  • 20% Based on Case Studies & Practical Exercises
  • 20% Videos, Software & General Discussions
  • Pre and Post Test

 

Organisational Impact

  • Cost and budgeting awareness will be enhanced
  • Higher chances to select a budgetary system that works
  • Broadened knowledge of performance management techniques
  • Better attitude to link cost and budgeting to strategy and performance measurement
  • Deeper understanding of cause and effect relationship for budgeting purposes
  • Better awareness of non-financial implications of budgeting

 

Personal Impact

  • Delegates will understand the budgeting methods most useful to them
  • They will understand how to construct a relevant and efficient budget
  • They will learn to evaluate the usefulness of costing techniques in accurately calculating and ensuring profitability
  • They will reinforce and expand their knowledge by linking budgeting to strategy and performance measurement
  • They will broaden their understanding by linking financial and operational issues

 

Upon successful completion of this course students will be able to

  • Analyse and pose business goals for the next period
  • Evaluate the factors influenced the financial risk
  • Prepare and plan the budget planning for each unit or activity of the firm
  • Prepare and plan the master budget of the firm
  • Prepare financial statements  
  • Use Sensitivity Analysis approaches to predict economic outcomes

 

COURSE CONTENTS  

  • ‐ An Introduction to Budgeting
  • ‐ Administration of the Budgetary Process
  • ‐ Financial Objectives and Budgets
  • ‐ Operating and Expenditure Budge
  • ‐ Funds Flow and Working Capital Bud
  • ‐ Performance Monitoring a
  • ‐ Capital Expenditure Budget

‐ Budgeting Financial Statements

Training Methodology:
This interactive training course includes the following training methodologies as a percentage of the total
tuition hours:-
• 30% Lectures, Concepts, Role Play
• 30% Workshops & Work Presentations, Techniques
• 20% Based on Case Studies & Practical Exercises
• 20% Videos, Software & General Discussions

Certificates

A Certificate of Completion will be issued to those who attend & successfully complete the programme.

Schedule

  08:30 – 10:15 First Session

 10:15 – 10:30 Coffee Break

10:30 – 12:15 Second Session

 12:15 – 12:30 Coffee Break

12:30 – 14:00 Third Session

 14:00 – 15:00 Lunch

 

Fees

 The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack is: