Budgeting is the cornerstone of strategic financial management in any organisation. It performs a dual role – acting both as a planning and control tool. There are few other activities for which an entire organisation gets involved in development and implementation processes. The scope of budgeting caters to all levels of decision making – from the operating decisions at the grass-root level right up to strategic decisions at the top management level. An error in the budgeting exercise may end up with the organisation losing sight of its strategic and operating objectives.
In order to remain relevant, various budgeting approaches have evolved over time. Each one came with its own strengths and share of weaknesses. The challenge lies in identifying the relevant approaches. The impact of budgets is traditionally reflected in financial statements. In order to keep up with varied approaches, new impact metrics have also evolved. Here too, every organisation needs to make a choice on the metrics to be used. This is where this course on Advanced Budgeting adds value. It will take you through various approaches and metrics in a simple and practical manner so that you can reinforce your knowledge and apply it in practice. Continuous use of spreadsheets will lead to a better understanding of the subject matter. The course will conclude with the group solving a case study on developing a comprehensive budget.
Who Should Attend
- Managing Directors
- Financial Controllers
- Business Development Managers
- Business Planning Managers
- Finance Managers (in various functions)
- Business Unit/Operational Managers
- Management Accountants
- Business Analysts
- Financial Analysts
- Capital Planning Proffessionals
- Treasury Personnel
Benefits of Attending
- Develop and implement a successful budgetary control system
- Understand the differences between traditional and modern approaches to budgeting so that you can develop an appropriate approach that would suit your environment
- Get acquainted with techniques and tools like forecasting, that are necessary to develop a realistic budget
- Conduct variance analysis explaining the differences between projection and achievement
- Design a comprehensive budget using the approach of your choice along with tools that you will be introduced to at the course
Prof. Arif Ahmed
Prof. Arif Ahmed, is a Chartered Accountant and
MBA (Finance) and a Doctorate in Finance. He has
25 years of experience in the area of finance and
Prof. Veena Hingarh
Prof. Veena Hingarh, is a Chartered Accountant,
Company Secretary, and a Certified Information
System Auditor. A career rank-holder, Prof. Veena
focuses on the areas of finance and their
interface with information technology as her
specialisation. Delegates gain from her insight
into the working of finance and its integration with IT.
Prof. Arif and Prof. Veena are contributors to and co-authors of bestselling books – Wiley International Trends in Financial Reporting, Understanding And Conducting Information Systems Audit, Handbook on IFRS, Manual of Information Systems Audit, etc. They have also been consultants with the World Bank.
Upon completion of this training course, participants will earn a digital badge.
Earners of this certificate have demonstrated their ability to: develop and implement successful budgetary control systems, and understand the differences between traditional and modern budgeting approaches. They are well acquainted with forecasting tools and techniques that develop a relevant realistic budget. They are proficient in conducting variance analyses and understanding the different projections. Finally, they are able to develop a comprehensive budget for use.
Finance, Financial Skills, Budget, Budgeting Skills, Forecasting, Cash Flow, Cash Limits, Budget Limits, Budget Strategy, Financial Strategy, Capital, Risk Analysis, Microsoft Excel
- Attend and participate in the 4 days of training course duration, led by the designated training expert; with less than 2 hours of absence.
- Complete the course assessment with a result of over 50%
|HYFLEX COURSE FEE|
Course fees include documentation, luncheon and refreshments. Delegates who attend all sessions will receive a Certificate of Completion.
Pricing excludes 5% VAT, which will be charged where applicable