Like it or not, budget is the yardstick that top management uses to measure your actual performance. Learn budget planning skills and see how your managerial decisions translate into dollars and cents! If you’re a new manager who is slightly nervous about budget planning and communicating with finance personnel or an experienced manager who wants to get a lot more out of the yearly chores, or an experienced financial professional who wants to refresh and update your budgeting skills, this brisk two-day seminar is for you. You will cover the entire budgeting process from fundamentals to development and performance analysis.
BCT 002 – The Important Elements of Budgeting & Planning, 20 January 2025
BCT 002 – The Important Elements of Budgeting & Planning, 20 January 2025
RM 700.00
INTRODUCTION
OBJECTIVE
- Understand key basic financial and accounting terminology pertaining specifically to budgeting information
- Identify, read and understand various relevant financial and budgeting information
- Budget and plan financial requirements
- Analyze and interpret various financial and accounting budget reports/statements
- Use financial information in their everyday project management and decision making process
- Monitor and control budgets
- Take the Guesswork Out of Your Decision Making and Deliver the Results You Need
- Cultivate Proactive Working Relationships with Financial Professionals and Enhance Your Value to the Organisation
- Learn How to “Think Finance” and Translate Various Measures of Performance into Financial Terms
METHODOLOGY
Every manager with budget responsibilities who is interested in developing or improving their budget planning skills.
1 Day Training Content
Day One (9am-1pm)
1.1 Strategy – direction and vision
1.2 Implementing strategy – the operational planning process
1.3 Budgets – the financial expression of the operating plan
1.4 The purpose of budgets – control
1.5 The human side of budgeting
1.6 Case study, part I – roles and responsibilities of the team
2.1 Elements of the budget framework
2.2 The financial statements
2.3 Advantages and limitations of budgets
2.4 Reporting – the key to control
2.5 Case study, part II – preparation of financial statements
3.1 Operating versus Nonoperating revenue
3.2 Revenue recognition versus Sales
3.3 Sales forecasting
3.4 Profitable growth and the cost of capital
3.5 Pricing considerations
3.6 Case study, part III – the sales forecast
Day One (2pm-5pm)
4.1 Cost, profit, volume relation ships
4.2 Cost of service provided
4.3 Operating expenses – selling, G/A, R/D
4.4 Directly variable expenses
4.5 Fixed expenses
4.6 The allocation problem
4.7 Assignable and non-assignable expenses
4.8 EBIT, EBITDA
4.9 Case study, part IV, budgeting operating profit
7.1 Budgeting cash requirements
7.2 Developing a cash flow forecast
7.3 The three sources of cash
7.4 Free cash flow
7.5 The completed budget
This module will comprise a recap of the key points of the programme, an evaluation of each team’s budget and an appropriate conclusion.
About Instructors
Ms Suchitra Mahendraj
- Business Acumen and Risk Management
- Finance for Non-Finance Professionals
- Budgeting and Planning
- Financial Analysis