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
Develop the skills to Prepare Budgets using:
Appropriate Forecasting Techniques including Time Series Models,
Exponential Smoothing, Regression and Correlation Analysis and
Costing Methods such as Activity Based Costing
Develop the skills to effectively implement Budgets
Personnel Controller with salaries and budget calculations
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 Forecastin
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
Because supervisory levels are the link between the executive and senior management levels, achieving the organization's objectives, increasing productivity and overall performance of the organization, affects the effectiveness and efficiency of supervisors' performance.
And because of the skills of supervisors in any organization in need of continuous development, and to acquire advanced tools and methods that reflect on the deepening of these skills and activate their role in motivating individuals working, and push them to commit to the goals of the organization.
You need this conference to learn about supervisory skills and advanced methods, to be able to play an effective and supervisory role in your organization.
Managing an office has become an increasingly sophisticated and complex job. The increased demand for speed and accuracy, knowledge of new technology, and an increasingly diverse workforce bring challenges and also opportunities for growth. This dynamic and in-depth course explores some of the more advanced skills which can help an office manager to work more confidently, creatively, and effectively.
As a supervisor, the success of your organization rests in your hands. This course provides you with the opportunity to develop highly effective and essential supervisory skills that will strengthen teamwork and organizational success. Also, this course will help you manage everyday operations with greater ease. Furthermore, it will help you leverage both your managerial and people skills to meet your new challenges as the 21st-century supervisor.
This course is designed for participants to introduce to key issues and themes in international development.
Participants will explore and engage in academic debates and discussions around a set of key factors that shape, influence, and constrain the development and prosperity of nations.
The course will explore a number of key themes in international development, including how questions of gender and generation shape the impact of poverty; how processes of globalization, migration, and violent conflict impact development; and how development and the environment are linked.
It also considers what exactly we mean by poverty, and how different ways of understanding poverty feed into different approaches to tackling it.
It will also consider development institutions: what are the key institutions in the architecture of international development? How do they differ, and what are the challenges and opportunities they present? Through this module, participants will gain a solid background in the various factors which shape current approaches to and debates on international development.
By introducing participants to a range of problems in economic development, we will look to analyze how economic theory and models can explain the lack of development in some nations. We will apply such theory to real-world economies to understand the nature of the problems they face and how effective policies can be in tackling the problems.
A five-day course on the practical aspects of piping and pipeline design, integrity, maintenance, and repair. The participants will obtain an in-depth understanding of the ASME B31 code rules and API standards, their technical basis, and practical application to field conditions.
Corporate/Public governance and risk management are critical There is increasing attention being paid to corporate governance and risk management in business schools and among legislators.