Budgets are an essential financial tool, which aid, planning, decision making, resource allocation, coordination, and control. Without the necessary skills Budgets can be badly prepared and/or implemented leading to poor decisions, mid-use of vital resources, poor coordination, and a lack of control or even too much control resulting in missed opportunities.
Develop the skills to Plan Budgets within a sound Strategic Plan
Become aware of the problems/limitations of budgets and the conditions required for their success
Integrate the budgeting process with the development of the company’s long-term strategic vision
Identify key performance indicators for effective and focused decision making
Perform “What If” and Sensitivity Analysis to evaluate the implications of changes in major factors of production and consumption
Recommend various courses of action to manage the implications of “What If” and Sensitivity Analysis.
Implement advanced planning and control techniques
Develop the skills to effectively Manage & Control the budgeting process
Financial Managers
Financial Planning and Control Staff
Executives with Financial Responsibilities
Executives who are responsible for the cost and strategic analysis
Project Managers
Employees who want to gain new knowledge to improve their career
Strategic Planning, Forecasting, Budgeting, and Costing – Defined
The inter-relationship of Strategic Planning, Forecasting, Budgets and Costing
The Benefits & Limitations of Budgets and the Essential Features & Conditions Required
An Evaluation of Various Types of Budgets:
Fixed
Variable
Zero Based
Activity-Based
Capital Budget
The Essential Features of Activity-Based Budgeting
Developing the ABB application model
Budgeting for Processes rather than Departments
Defining Key Cost Drivers
Defining Key Activities
Development of ABB Cost Standards
Developing the Activity-Based Budget
Preparing The Master Budget using Excel
Sales Budgets
Production Budgets
Cash Budgets
Capital Budgets
The Master Budget
Determine the Purpose or Objective of Forecasting
Methods of Forecasting using Qualitative and Quantitative/Statistical Analysis
including the Exploratory Data Analysis Tools Available in Excel
Their Use & Limitations
Recognizing the Basic Patterns Inherent in Historical Data
Time Series Analysis
Exponential Smoothing
Correlation and Regression Analysis
Presenting initial forecasts to decision-makers
Forecasting future Market/Sector developments using Qualitative Analysis – SWOT Analysis and LEPESTE & Co Analysis
Implementing Forecasts into the Budget
Considering Hedging Strategies where variables such as Exchange Rates and Interest Rates cannot be forecast accurately
Forwards, FRA’s, Futures, Options, and Swaps
Preparing the Sales Budget
Determining the price, credit policy, discount policy, and currency
Preparing the Production Budget
Preparing the Cash Budget
Make finance and investment decisions
Preparing Capital Budgets
Use Excel to evaluate various Capital Projects using Present
Value, Future Value, Net Present Value, Internal Rate of Return, Modified Internal Rate of Return and Discounted Payback models
An Introduction to “What If” and Sensitivity Analysis to evaluate the implications of changes in major factors of production and make strategic decisions
Implementing Budgets Successfully
The Conditions Required
The Management Skills Required
Break-Even Analysis, Cost Behaviour, and Sensitivity Analysis
Identifying Fixed, Variable, and Semi-variable costs
Identification of the level of sales/profit to break even
Identification of critical costs
Determining resources requirements
What if Analysis using Excel and leading software
Performing “What If” and Sensitivity Analysis to evaluate the implications of changes in major factors of production and consumption on the Cash Budget and Profit & Loss Account
Identification of key performance indicators for effective and focused decision making
Recommend various courses of action to manage the implications of “What If” and Sensitivity Analysis.
Developing Budget Re-Projection and Best Case / Worst Case Scenario Models
Planning for contingencies
Developing various scenarios
Using the Scenario tool in Excel® to explore the variable sets of assumptions while tracking the impact on the base model.
Building the financial simulation model using probabilistic (Monte Carlo) simulation
Building the financial simulation model using deterministic simulation
Accounting Systems, Accountability and Responsibility Systems
Essential Elements of a Costing System
Establishing and Implementing a Costing System
Undertaking Variance Analysis and Presenting a Variance Report to decision-makers
Evaluation of the results
Making Strategic Decisions based on the Variance Report/Business Planning
The program opens by exploring the key leadership skills and how to apply them in the organization. Using this initial analysis, the program explores managing yourself as a leader, leading a team, creating breakthroughs through innovative leadership, communicating effectively with others, and imparting leadership values to your team members. All attendees will return to their organizations better equipped to meet the challenges and demands of leadership.
This is a fast-paced, dynamic, and highly informative advanced leadership program. It seeks to develop and enhance your personal, team, and organizational leadership skills.
This seminar is designed to provide practicing or potential leaders with the knowledge and skills required by the role. This leadership programme enables your leaders to critically explore the key idea that the most important function of a leader is to help their people move through the stages of team development.
Alliances in business are a natural route for development – but not all contracting relationships can truly be seen as alliances. A good, trusting and open relationship is essential for a long-term and successful alliance – and this needs to be practiced by the negotiators involved. Negotiation is inevitably at the heart of every process to achieve what you want, whether in an agreement, bargaining for an item, or closing a deal. At the end of each negotiation, the goal is to seek a win/win outcome – an essential characteristic of long-lasting alliances. This course provides an essential framework for effective negotiation — which will be vital for building and exploiting an alliance - from building the relationship, critical thinking to prioritize goals
Health, Safety, and Environmental Management Systems are based on a proactive process for incidents prevention as well as reactive monitoring of performance. Risk assessment is required to be applied to all activities that impact on health & safety, production, asset, environment, and the Company reputation.
All businesses in the current environment need a competitive edge. This can be gained through innovative and exciting products and services, or effective and efficient world-class employees. Top performing organizations are passionate about their most valuable resource - their staff. To maintain their high standards a large proportion of their time and energy is spent on continuous professional development, not only of their employees but of their business. This course investigates the tried and trusted management processes, procedures, and methodology used by many blue-chip companies. They use the tools to develop high levels of performance from their staff. This in turn ensures the future and reputation of their companies through innovative development, service, and evaluation. This course offers participants practical solutions to work-related issues.
Enterprise Risk Management known as (ERM) has evolved considerably since the seventies. From simply 'buying' insurance, it has now grown in importance to become a prime function in many organizations as part of a bigger system known as Governance, Risk, and Compliance (GRC) which starts with corporate governance and ends with compliance. ERM is the function of studying the risks that may hinder a corporation's ability to achieve its goals and then deciding how to overcome those risks. Studies regarding risk management were done by different organizations, including ISO which issued ISO 31000 on risk management. However, the most accepted ERM system is the one designed by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This system, which is the one covered in this course, teaches the steps needed to control risk. It starts with the evaluation of the internal environment and the setting of objectives which are, mainly, a result of the tone at the top of the organization, the directives from corporate governance as well as the vision, mission, and corporate strategies. Then, the course goes through the steps management needs to consider in order to identify and assess risk and decide on proper risk responses and controls. The course ends with how to monitor, communicate, and report risk. In addition, the course looks at risk in different organizational areas such as strategy, reporting, compliance, operations, financial and physical risk as well as risk in different industries.