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 The Essentials of Budgeting amp Business Finance F175 QR Code
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The Essentials of Budgeting & Business Finance



This course focuses on the internal view of an organization: strategic decision making, budgeting, and cost control. It will increase your understanding of the overall budgeting process and how it fits into the strategic objectives of your organization.

All professionals in every department must understand the budget its linkage to the strategic objectives of the business and appreciate that it is a vital component of managing organizations. The budgeting process helps to create a culture of performance measurement and spread it throughout the organization to help the business meet its objectives.

Course Objectives:

At the end of this course the participants will be able to:

  • Understand the importance of linking finance with the business
  • Understand the purpose of budgets and their impact on the organization.
  • Appreciate the place of the budget in strategic planning
  • Understand the motivational effects of budgets
  • Understand how budgets are used both for planning and for control
  • Understand how budgets can be used for responsibility accounting
  • Understand the control aspects of budgeting
  • Discuss and communicate in budgeting terms
  • Understand how to link financial and non-financial measures

Targeted Audience:

  • The Staff Persons who will be responsible for the budget system
  • Those who want to gain control of the firm's financial standing and obtain a firm grasp on the numbers side of their job.
  • Anyone who wants to understand the basics of budgeting and business finance
  • Also, this course is suitable for all professionals among all departments and managerial levels

Course Outlines:

Unit 1: Strategy & Budgeting: Creating a “Business Finance” Culture:

  • The difference between managerial accounting and financial accounting
  • The key financial statements
    • Income statement
    • Balance sheet
    • Cash flow forecast
  • The complexity of managing the contemporary organization
  • Strategic Plan, Budgeting, Costing and Management Control
  • Management Accounting for organizational control systems
  • Responsibility accounting and the process-view
  • The Budget and its role for achieving organizational targets
  • What is it the situation in your organization?

Unit 2: Issues of Budgeting:

  • The Budget and its role for achieving organizational targets
  • The limits of the budget
  • The Master budget and it schedules
  • The motivational aspects of budgeting
  • The linkages between budgeting and costing
  • Cost classifications

Unit 3: Costing for Budgeting Purposes:

  • Cost terms and methodologies
  • Inventorial vs. period costs
  • Manufacturing vs. non-manufacturing costs
  • Variable vs. Fixed costs (CVP analysis)
  • Direct vs. indirect cost
  • Under-costing and Over-costing problems

Unit 4: Flexible Budgets & Variance Analysis:

  • The budgets and performance measurement as tools for communications
  • What is the situation in your organization? How to improve it?
  • The imperative of value-creation: towards value-based budgeting
  • Describe the difference between a static budget and a flexible budget
  • Compute flexible-budget variances and sales-volume variances
  • Integrate continuous improvement into variance analysis

Unit 5: Balanced Scorecards: Tools To Bring Finance In The Business:

  • Bridging Finance in the Business by making the strategy visible
  • The balanced scorecard and its four perspective
  • Implementing the balanced scorecard
  • Setting Objectives and KPIs
  • Developing the Strategy Maps
  • Develop a Balanced Scorecard for your organization

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