Cambridge
Academy
In London

Course Duration: Five Training Days

Course Language: Arabic or English

Include:

-Scientific material with TAB

-Workshops

-Reception and farewell at the airport

-Coffee Break

Introduction

Setting and controlling budgets accurately and adequately is fundamental to every successful business. This managing, setting, and controlling budgets for the business seminar shows how budgeting is linked to strategy, costing, and performance measurement.

The managing, setting, and controlling budgets for the business conference aims to clarify the jargon and budgeting methodology within managerial accounting and performance measurement.

This budget conference serves as a sample budget workshop, equipping participants with the tools necessary for setting budgets for business, monitoring and controlling budgets, and detailed insights into the managing budgets course.

Attendees in this managing, setting, and controlling budgets for the business conference are sure to leave with enhanced abilities to oversee their organization's financial planning and execution strategically.

Enhancing Financial Acumen through Effective Budget Management

Understanding the intricacies of budget management is critical for professionals involved in financial decision-making. This budget management course offers an in-depth look into setting and controlling budgets to ensure economic stability and success. A keen focus on the budget-controlling process encourages participants to master techniques vital to maintaining the budget effectively.

Targeted Groups

-General Management.

-Estimating and Costing Control.

-Project Management.

-Asset Management.

Conference Objectives

At the end of this managing, setting, and controlling budgets for the business conference, the participants will be able to:

-Link finance and operation for budgeting purposes and strategy execution.

-Learn how to build a comprehensive performance measurement system.

-Develop an understanding of the corporate budgeting process.

-Interpret the financial impact of strategic directions.

-Understand the problems of overhead allocation and how Activity-Based Analysis may aid decision-making and pricing strategies.

-Understand the budgeting methods most beneficial to them.

-Understand how to construct a relevant and efficient budget.

-Evaluate the usefulness of costing techniques in accurately calculating and ensuring profitability.

-Reinforce and expand their knowledge by linking budgeting to strategy and performance measurement.

-Expand their understanding by linking financial and operational issues.

-Learn how to be aware of the non-financial implications of budgeting.

Targeted Competencies

At this managing, setting, and controlling budgets for the business conference, the target competencies will be able to:

-Strategic planning.

-Understand the linkages between planning, budgeting, costing, and performance measurement.

-The features of budgetary control.

-Cost analysis.

-Learn the role of full costing and contribution margin.

-Advantages and disadvantages of budgeting.

Conference Content

Unit 1: Strategic and Financial Planning

-Financial vs. managerial accounting.

-Explore the linkages between strategy, budgeting, costing, and performance measurement.

-Understand what strategic planning is and why it is essential.

-Mission vision strategy goals and objectives.

-The outside environment and the internal context: SWOT and PESTEL analysis.

-What is happening in your company?

-Look for the drivers of value creation.

Unit 2: The Framework for Budgeting

-What is a budget, and why create a budget?

-The budgeting framework.

-Various types of budgets.

-Learn the budgeting process and the human side of budgeting.

-Learn about sales forecasting and budgeting schedules.

-What is your company's budgeting process?

-Top-down vs. bottom-up budget.

-Incremental vs. zero-based.

-Examples of budgetary schedules.

Unit 3: Cost Analysis for Budgeting

-What is the cost? Define costs.

-Cost behavior in the fixed and variable.

-Understand breakeven models and the equation method.

-The contribution margin concept.

-Direct and indirect costs.

-Traditional vs. activity-based costing.

-Product vs. period costs.

Unit 4: Controlling The Budget Variances

-What is the situation in your organization?

-Do departments and projects organize budgeting?

-Budget variance analysis.

-Describe the difference between a static budget and a flexible budget.

-Compute flexible-budget variances and sales-volume variances.

-Explain why standard costs are often used in variance analysis.

-Integrate continuous improvement into variance analysis.

Unit 5: Beyond Budgeting: Broadening Performance Measurement Systems

-Advantages and disadvantages of budgeting.

-How do you improve budgeting in your organization?

-What next? Beyond the budget.

-The balanced scorecard: linking strategy to budgeting to performance measurement.

-Understand financial perspective and customer perspective.

-Overview of internal business process perspective, Learning, and growth perspective.

-Develop and adapt the scorecard.