EFFECTIVE BUDGETING TRAINING COURSE

Course Objectives
Good financial management should ensure that staff in charge of delegated budgets, both for administration costs and programme expenditure, have clear guidance on the size of the budgets, what they may be used for and how far they can be varied. For many managers, the company’s financial statements remain a mystery. However, as these managers move into increasingly higher positions, discussions regarding financial performance become more regular. A basic understanding of both financial statements and project evaluation tools is a necessity in order to make rational decisions and contribute to discussions intelligently.
Target participants
Managers and Finance professionals who would like to gain the skills, knowledge and guidance on how to manage budget responsibilities effectively.
Duration
3days
By the end of this course participants will:

  • Understand the nature and structure of financial statements
  • Learn the major elements of financial statements
  • Understand the purpose of a budget
  • Know how to link budgets to performance indicators, organizational finance, strategies and objectives
  • Discover how to control, monitor and prepare human resources budget
  • Budget metrics and their influence on corporate strategy
  • Compile and interpret budgets
  • Managing budget variances
  • Gain hands-on-experience on building a budget
  • How to accurately report expense and return on the budget
  • How budgets can be used to monitor and control a business
  • Key components and cost factors in a budget
  • Techniques for appraising investment projects
  • Understand the principles of responsibility accounting and techniques for performance evaluation
  • Understand costing and break-even
  • Monitor and control a budget

 Course Outline

  • Budgeting
  • What is the Budgeting Process?
  • How Does it Work?
  • Types of Budgeting
  • Analysis of the Different Types of Budgeting
  • Advantages and Disadvantages of the Different Types
  • Ensuring Full Management Control
  • Purpose and Importance of Budgets
  • Fundamentals of the Budgeting Process
  • The Budgeting Cycle
  • The Importance of Cost Control
  • Planning Revenue and Expenditure
  • Monitoring Plans Against Actuals
  • Gathering the Facts
  • Understanding the Business Strategy 1/2/5 Years
  • Building Capability
  • Constructing a Budget to Fit with the Organisation
  • Estimating Costs and Revenues
  • The Control Process
  • Updating Budgets and Forecasting
  • Building a Budget
  • Successful Forecasting
  • Flexible Budgeting
  • Zero-Based Budgeting
  • Counting the Cost of HR
  • Budget Metrics
  • Budgets and Return On Investment (ROI)
  • Budgets and Discounted Cash Flows
  • Budgets and Internal Rate of Return (IRR)
  • Financial Statements
  • Accounting System
  • Income Statement
  • Balance Sheet
  • Cash Flow Statement
  • Developing the Budget
  • Understanding Cash Flow
  • Forecasting and Budgeting
  • Types of Budgets:
  • Flexible Budgeting
  • Zero-Based Budgeting
  • Budget Preparation
  • Measuring Financial Performance
  • Monitoring Budget Performance
  • Variance Analysis
  • Management by Exception
  • Accountability and Responsibility
  • Cost Volume Profit Analysis (CVP)
  • Identifying Fixed Costs and Variable Costs
  • Assumptions of CVP Analysis
  • CVP in Budgeting Decisions
  • Cost Calculations
  • The Basic Concepts
  • Forecasting
  • Effects of Salary and Wage Increases on Overall Salary Bill
  • Costing of Collective Contracts
  • Costing of Individual Contracts
  • The Difference Between Fixed and Variable Costs
  • Direct and Indirect Costs
  • Understanding the ‘Break-Even’ Analysis
  • Company Financing
  • What is Equity?
  • Assets vs. Liabilities
  • The Concept of:
  • Acquisitions
  • Mergers
  • Protection
  • Valuation
  • Financial Crisis Management
  • Accountability
  • Importance of Accurately Collecting Data and Report Costs
  • Consistency in Collecting, Compiling, Storing and Reporting Data
  • Assets vs. Liabilities
  • The Concept of:

Acquisitions
Mergers
Protection
Valuation

 

Mode of Training

  • Group discussion
  • Individual and syndicate activities
  • Individual and group tasks
  • Case studies
  • Role plays
  • Audio and video evaluation
  • Action planning
  • Experiential learning games
  • Presentations

Cost of the course
Kenyan residents: Kshs 60,000/=                International: USD 600/=                                        The cost covers tuition, lunch and two break time snacks. Participants will be expected to cover their accommodation, travel and any other out of pocket expenses.
Accommodation can be re reserved on prior request.
Mode of Payment
Payment shall be made through electronic fund transfer to Africa Development Resources bank account 7 days prior to commencement of the course.
For more information please contact:
Telephone: +254733846186
Email: training@africadevelopmentresources.org