A good plan should begin with a good forecast, which in turn, may lead to a good budget. A strategy is a long-term plan of what the company is going to do to achieve its policy. The budget is the short-term plan of how strategies may be achieved. It is a quantification of the activities the company must develop to achieve its short-term plans.
At the end of this conference the participants will be able to:
Develop strategic thinking, and use the strategic management process to develop missions and objectives and carry out strategic analysis and decision-making.
Understand the relationship between financial planning, forecasting, and budgeting, and integration of the strategic management process with the budgeting cycle.
Understand cost behavior, the use of alternative costing systems, and cost/volume/profit (CVP) analysis, and develop and prepare an operating budget and how it may be funded using the alternative sources of finance.
Use various Excel models to forecast sales pricing, optimal product mix, long- and short-term sales levels, and build financial growth planning models and traditional and activity-based budget models, and improve budget accuracy.
Use the techniques of budgetary control: development of product standards, flexed budgets, and variance analysis, and use of the results of variance analysis to improve operational performance.
Determine a company’s cost of capital and use the technique of discounted cash flow (DCF) for capital budgeting and evaluation of capital project investment, and risk analysis using the techniques of sensitivity, simulation, and scenario analysis.
Financial Professionals, Finance Controllers, Treasurers, and Inventory Professionals
Senior Professionals with direct responsibility for financial management and control
Accountants, Sales and Purchasing Professionals, and those responsible for the relationship with banks
Any Professional, at junior or senior level, who is a part of the financial decision- building a team
New Interns and Trainees with finance-related responsibilities
Head of Departments, Process Owners, Administrative Personnel associated with budget management
What are planning strategies?
Work with the planning cycle
Mission
Strategic analysis
Strategic choice
Strategic implementation
Corporate objectives
Corporate value and shareholder value
The agency problem and corporate governance
Planning requirements and working capital
Plan outline
Financial planning for growth
Financial modeling
Development of the key performance indicators (KPIs)
The balanced scorecard
Determine the purpose and objective of the forecast
We all operate in an increasingly complex commercial and professional environment that requires us to negotiate on a daily basis not only with customers, clients, suppliers and contractors but also with managers, fellow employees, and colleagues within our own organization.
Pressure equipment such as boilers, pressure vessels, heat exchangers, pressure piping, and associated safety equipment are widely used in many industries (e.g., hydrocarbon processing, chemical, power, pharmaceutical, and manufacturing). Pressure vessels and piping store energy and potentially hazardous fluids and thus have inherent safety risks. Pressure equipment designs are performed in compliance with applicable Regulations, Codes, and Standards and follow sound engineering practices to ensure structural integrity and safeguard public safety. The design covers material selection, stress analysis, fabrication, testing, inspection, operation and failure analysis, codes, standards, and regulations.
ASME Plant Inspector Level 1 Course provides the fundamental principles of the inspection, assessment, and management of fixed pressure equipment. The content of the course is delivered in a systematic manner, from the inspection planning process to inspection practices and evaluation of the associated equipment. It is aimed at the upstream and downstream Petrochemical industry but is equally relevant to stakeholders from other sectors that utilize pressure equipment.
One of the most well-known IT management and governance frameworks is COBIT 5 Foundation. The framework is adaptable to all organizations of any size.
In addition to giving you an advantage over your peers in terms of professional growth, COBIT 5 offers internationally recognized principles, practices, tools, and models to assist boost the trust and value in IT.
This training offers insights into the world of corporate finance, risk, and governance. Capital markets are central to the globalization phenomenon and essential for a well-functioning society. Because of this centrality and essential nature to societies, focus and attention must be paid to their proper functioning and oversight. To that end, this program offers an overview of the interaction between management and all other stakeholders. Diverse and complex stakeholder demands are best met by an efficient allocation of resources over an extended period.
This program will provide the participant the know-how to: Understand Strategic alliances; Management system needs of Strategic alliances; Causes of Failure of Alliances; Determining the suitability of a proposed alliance