FCA0203 | A Foundation in Effective Budgeting Management Techniques

Start End Duration Venue Fees
03 Feb 2020 14 Feb 2020 2 Weeks Istanbul $7,300 Register
03 Aug 2020 14 Aug 2020 2 Weeks Barcelona $7,900 Register
04 May 2020 15 May 2020 2 Weeks California $10,000 Register
04 Oct 2020 15 Oct 2020 2 Weeks Sharm Sheikh $6,800 Register
05 Jul 2020 16 Jul 2020 2 Weeks Abu Dhabi $6,900 Register
07 Jun 2020 18 Jun 2020 2 Weeks Alexandria $6,400 Register
09 Nov 2020 20 Nov 2020 2 Weeks Rome $7,900 Register
12 Apr 2020 23 Apr 2020 2 Weeks Cairo $6,900 Register
13 Jan 2020 24 Jan 2020 2 Weeks Kuala Lumpur $7,300 Register
14 Sep 2020 25 Sep 2020 2 Weeks London $7,900 Register
14 Dec 2020 25 Dec 2020 2 Weeks Jakarta $8,000 Register
15 Mar 2020 26 Mar 2020 2 Weeks Dubai $6,900 Register


PROGRAM'S BACKGROUND


A budget is the formal expression of the plans and objectives of management that covers all phases of operations for a specific period of time. Without clearly outlined budgets, organizations are unable to predict profits or losses or create plans for the future ultimately leading to failure. This program will provide a foundation for:

›       Determining how to select a budgeting system that suits your organizations specific needs

›       Learning how to construct a budget to reflect your long-term objectives and performance targets

›       Gaining unique and practical insight if how to pinpoint budget variances

›       Adding credibility to your budget proposal

›       Developing budgets for all activities of your company

›       Defining the real value of budgets and how budgets can destroy the actual performance of the organization when used incorrectly 

PROGRAM'S OBJECTIVES


This Program’s Attendees Will Be More Able To:

›       Know what budget points are justified and be able to prove it!

›       Gain instant insight into potential budget problems before you have to live with them

›       Have an understanding of budget types and processes, and how each impacts your operations

›       Learn a complete glossary of terms dealing with each aspect of your budget process

›       Have confidence that your discussions with financial administrators won’t leave you struggling to understand budgeting concepts or terminology

›       Know the tools necessary to meet your budget goals, whatever the economic environment

›       Be assured that your budget will cover all your operating needs including surprises - without padding

PROGRAM'S ATTENDEES


›       Senior Personnel

›       Supervisors

›       Administrators

›       Department Heads

›       Key player on any budgeted team

›       Purchasing Decision-Makers 

PROGRAM'S OUTLINE


THE WHAT & WHY OF BUDGETING

›       Budgeting and Reporting Overview

›       Getting started: Budgeting is a communication process

›       The key benefits of good budgeting and the pitfalls of bad budgeting

›       Essential elements in planning any viable budget

›       Know your organizations budgeting environment

›       Putting the pieces together: The budget preparation phase - planning is most of the battle

›       Monitoring the approved budget

›       Administering a Budget

›       Budgets are financial statements: How do we use them effectively. What do they tell you about the past ... the future?

›       Learn how to use them to pinpoint organizational strengths and weaknesses

›       The income statement: What does it measure? What is missing from it?

›       The balance sheet budget: a measure of health of your department or organization

ADMINISTERING A BUDGET

›       The capital budget: The long-term commitment of viability. Just how practical are your plans for expansion, research and development, new personnel, etc.?

›       The cash budget: The first line of survival

›       Spot the key problems and opportunities every budgeting process uncovers

›       Essential Budgeting Tools

›       Methodology of effective budgeting

›       The budgeting checklist

›       Unit-cost budgeting: ideal for operations-oriented environments

›       Fixed-cost budgeting: the tool budget-builders reach for most often

›       Program Planning and Budgeting: A more strategic look at budgeting

›       Review the methods available to address your unique budgeting challenges

›       Zero-based budgeting: essential for justifying proposed expenditures from the ground up

›       Activity-Based Budgeting (ABB): Fad or Fact?

ANALYZING BUDGET TYPES

›       The final plan: sales plan, production plan, purchases budget, Labor budget, Operating expenses, Capital budget

›       The sales plan begins with P X Q

›       How to prepare a production budget

›       Prepare a manufacturing budget including: budgeting for materials, direct labor and overhead

›       How to plan and prepare a research and development budget

›       Budgeting terms made simple; a glossary of words you will use again and again

BUILDING THE BUDGET

›       It all begins with sales or revenues

›       Where do revenues come from?

›       Where do the pieces fit? Capital expense or operating expense?

›       Examine capital expenditure requests

›       Methods of economically evaluating capital expenditures and projects

›       Controlling general and administrative expenses

›       Develop unit indicators for budget preparation and control

›       Identify overhead and determine proper allocation methods

›       Budget development

›       Cash versus accrual accounting - why are they different?

›       What are the rules for budgeting and who makes them?

›       Use basic accounting technology to properly compare cash inflow to outflow

›       Post approval, what steps to undertake after the budget is approved

›       Top down or bottom up? Which one works and why

›       Management by objectives, results that matter

BUDGET VARIANCES

›       Is the alleged variance within your control?

›       What are some factors beyond your control? The right perspective will make the difference

›       Learn where to look first for variance factors hardest to find

›       How to know when and how your budget is warning you of outside interference

›       Tips on how to respond to requests for variance explanations

›       Monitoring the Budget

›       Monitoring methods such as Management by Exception

›       Understand the difference between fixed, variable and semi-variable costs using a simple but effective illustration

›       Expect the unexpected: some costs simply cannot be budgeted

›       Learn and use the unit-cost concept immediately and effectively

›       Establish and track monthly targets within your annual budget

›       When to break the budget

ADDITIONAL DETAILS




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Tel: 002 01117866099 | 01117864455, Email: info@pioneerscenter.com
 

Benefits to Organization

1. The candidates will become competent, effective and productive on their jobs. This training program is useful for:
        · Competency building where existing employee is promoted or planned to be promoted.
        · Technical knowledge, skills and competencies.
        · Needs and expectations of the stakeholders/ customers both internal and external.
        · Opportunities to exceed stakeholder/ customer expectations.
2. Create a pool of trained manpower that can cost-effectively spread the knowledge to large number of employees inside the organization.
3. Our facilitators often act as mentors for your trained employees and thus provide a most effective way to ensure effective competency development and application by your motivated staff.
4. We adopted a one-to-one approach that can provide more room for your employees to work at their own pace and address individual needs more freely.

Benefits to the Individuals

1. The candidates will gain a multi-discipline understanding of the subject matter.
2. Have an individual action plan to take away that will help the candidates make a difference in their organizations. This will add value to the expertise and experience of the candidates’.
3. Be more able to enhance job satisfaction and reduce wasted time and effort.
4. Ensure that the candidates will know and appreciate the strategic imperatives that drive the organization's efforts in their relevant job area.
5. Be more able to align your roles and job requirements with the organization’s mission and vision.
6. Be more able to meet your deadlines and tasks and successfully complete any scorecard in a timely fashion.

Additional Benefits

1. Good & best industry practices.
2. Checklist approach for ease of understanding and practical application.
3. Latest technologies including information technology, quality assurance and methodology.
4. Quality assurance and quality improvement incorporated in each program.
5. One-to-one approach and small groups will lead to learner-centered environment.
6. Experienced and qualified instructors both academically and in practice.
7. Customized programs to meet and suit individual training needs.
8. Letters of recommendation for the exceptional performers.

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