An Intensive 10-day Training Course
Advanced Financial Planning & Budgeting
This 10-day training course, comprises of two parts, as detailed below: Module 1 – Strategic Financial Planning & Implementation Module 2 –...
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Course Overview
This 10-day training course, comprises of two parts, as detailed below:
Module 1 - Strategic Financial Planning & Implementation
Module 2 - Budgeting, Planning & Management Reporting
Each module has been developed distinctly, such that it can can be attended as an individual 5-day training course. However, for optimum training outcome, participants are encouraged to attend Module 1 and Module 2, as a complete 2-week training course.
Training Outline
Module 1: Strategic Financial Planning & Implementation
Day 1 : What is Strategic and Financial Planning?
- The role of strategy in business and why it matters
- The ingredients of a good strategy
- Customer analysis and market segmentation
- Effective strategy making processes with proper financial planning
- Tools for understanding industry developments
- The core strategic financial choices for a business
- Who is responsible for strategy making and who should be held accountable?
- Case Study
Day 2 : Integrating Strategic and Financial Planning with Operational Management
- Contrasting management with strategic leadership
- The competencies of strategic leadership
- The top manager as strategist
- The CFO as strategist
- Using Scenario analysis and environmental scanning
- SWOT and other acronyms
- Corporate Culture and its effect on strategy and financial planning
- The operational manager’s role in strategy
- Case study
Day 3 : Using Evidence for Strategic and Financial Planning
- Analyzing the market place and the customers
- Understanding the competition
- Financial analysis: past, present, and future
- Knowing the core strengths and weaknesses of your business
- Identifying your core competitive advantage
- Developing Vision statements that make a difference
- Developing mission statements that make a difference
- Examining alternative strategies
- Creating the strategic plan
- Case study
Day 4 : Implementing Strategic and Financial Plans
- Using financial planning to prepare the ground for change in the business
- Communicating the strategy and having control points
- Overcoming internal political resistance
- Reviewing and measuring progress with proper variance analysis
- Turnaround and corrective measures
- Managing implementation as a continuous process
- Case Study
Day 5 : Becoming a Leader of Strategic Financial Planning
- Building strategy making and implementation into the role of managers
- Developing strategic leadership capability
- Creating organizational commitment to the business strategy
- Leading strategy making teams effectively
- Incentive plans
- Balanced Scorecard and other performance management systems
- Realistic action planning
- Case study
Module 2: Budgeting, Planning & Management Reporting
Day 1 : Planning for Success
- What are Planning Strategies?
- Strategy Analysis, Choice & Implementation
- The Role of Strategy Maps in defining the Business
- Effective and Less Effective Management Reporting Practice
- The Agency Problem and Corporate Governance
- Planning Requirements and the Importance of Working Capital
Day 2 : Forecasting in Budgeting and Planning
- Determine the purpose and objective of the forecast
- Statistical analytical tools
- Quantitative analysis and forecasting
- Forecasting techniques
- Agency problems in forecasting- solutions
- Causal analysis models – regression analysis
- Using Excel ® to analyse historical data
Day 3 : Budgets, Costs and Budgetary Control
- Why do we budget? – the purposes of budgeting
- Planning and Control
- Putting the budget together
- Cost behaviour and classification
- Cost / volume /profit (CVP) and ‘what-if’ analysis
- Standard Costing
- Flexed Budgets
- Variance analysis and the reasons for variances
Day 4 : Activity Based Costing (ABC) and Activity Based Budgeting (ABB)
- Activity Based Costing (ABC)
- Refinement of the Costing System
- ABC and Cost Management
- Design of ABC Systems
- The Cost Hierarchy and Cost Drivers
- Advantages and disadvantages of ABC systems
- From Traditional Budgeting to Activity Based Budgeting (ABB)
- The ABB Process
- Time-based ABC for Services Organisations
- Motivation and the Behavioural Aspect of Budgeting
Day 5 : Measuring Corporate Performance: Requirements of a Successful Performance Measurement System
- Broadening Performance Measurement Systems
- The Drive toward Shareholder Value (EVA®)
- Beyond Budgeting: integrating financial and non-financial issues
- Introducing the Balanced Scorecard and the Key Perspective
ACCREDITATION
MHMMD is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.
Euromatech is a Knowledge & Human Development Authority (KHDA) approved training institute in Dubai, licensed and approved to deliver training courses in the UAE.
The KHDA is the regulatory authority in the UAE, that oversees administering, approving, supervising, and controlling the activities of various education providers in the UAE. We are proud of our commitment to ensuring quality training courses and status as a KHDA-approved training provider.
Taught by our team of highly qualified trainers, our KHDA approved training courses will provide you with an enriching learning experience and practical knowledge that will help you future-proof your career and support professional development within your organisation.
The beautiful thing about learning is nobody can take it away from you.
B.B. King
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