INTRODUCTOIN
This course brings together important areas of financial management, planning, and control.
It provides an understanding of the various aspects of an organization from a calculative aspect to other related practices in the organization. The key element of the course is the focus on the practical application of financial models and analysis, which are used to assess the strategic and operational positions of the organization.
BENEFITS OF ATTENDING
Upon successful completion, participants will be able to:
- 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
- Expand 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.
- Understand how financial considerations help to support organizations’ strategic decisions
- Appreciate how such decisions may affect their own departments or business units, as well as their companies
- 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
WHO SHOULD ATTEND?
- Project Management
- Financial Analysts
- Financial Controllers
- Accountants
- Treasurers
- Corporate Planning
- Also, this course is suitable for all management levels among the organization.
COURSE MODULES
DAY 1: Planning, Budgeting, and Forecasting
- Overview, Mission, and Goals
- Analysing External and Internal Environments
- Formulating and Implementing Strategies
- Other Planning Tools
- Budgeting Concepts
- Establishing Standards
- Forecasting and Regression Analysis
- Learning Curves
- Probability
- Budget Methodologies
- Budget Cycle and Budgets Produced
- Preparing the Budget
- Ongoing Budgetary Reporting
- Top-Level Planning and Analysis
DAY 2: Performance Measurement & cost control:
- Introduction to Variance Analysis and Standard Costs
- Direct Material Variances
- Direct Labour Variances
- Overhead Variances
- Sales Variances
- Service Companies and Market Variances
- Contribution Income Statement
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