Budgeting, Planning and Management Reporting (Certified Budget Planner)

Ref	FI 590
Dates	8 - 12 November 2010
Venue	Kuala Lumpur
Fees	US$ 4450
CPE Credits	30

INTRODUCTION

This programme provides an overview of the tools and the skills to build world class standards into your planning, budgeting, performance measurement and reporting system and will discuss new and best practice techniques, explain how they complement the traditional financial planning tools, and introduce new concepts for measuring and reporting performance and shareholder wealth creation. Important elements of this programme include:

Making your budgeting process more cost effectively
Motivate managers to "buy in" to the budget process
Many case studies and illustrations of real companies will be used to help delegates understand how to apply different planning, forecasting and analysis techniques
Participants will also be given a detailed set of handouts that will enable them to review the topics covered at a later date

ILM CERTIFICATION

The Certified Budget Planner is endorsed by the Institute of Leadership and Management (ILM). Delegates will complete an assessment at the end of the programme and, if successful, will become certified with the ILM. The assessment will focus on the topics covered by this programme.

PRE-REQUISITE

Participants should have a basic understanding of financial statements
Delegates will be asked to bring a spreadsheet of their organization’s budget structure to work on during the programme

WHO SHOULD ATTEND?

Professionals responsible for budget preparation and management reporting
Process owners who require a more in-depth understanding of integrated planning and budgeting techniques, along with Financial planners and cost analysts
Anyone with direct planning and budgeting responsibility, as well as advisors, accountants and business consultants

PROGRAMME OBJECTIVES

Implement advanced planning and control techniques into your budgeting process
Integrate the budgeting process with the development of the company’s long-term strategic vision
Provide a decision support structure that provides timely and useful information to decision makers
Successfully build an integrated planning, budgeting and reporting process
Forecast costs and revenues with greater confidence
Apply management tools to the budgeting process that contribute to strategic goals
Effective manage the budgeting process
Identify key performance indicators for effective and focused decision making
Increase profitability and performance through stream lined planning and reporting

PROGRAMME OUTLINE

DAY 1

Budgets in Today's International environment

Organizational Planning and Control Framework
The Product / Information / Decision Support Cycle
Strategic, Tactical, and Operational Forecasts
The recognition of risk in Models
Using Budget Models for Simulation Purposes
The Drive toward Shareholder Value (EVA®)

The Strategic Plan

The purpose of planning and budgeting in business
Defining the strategic approach to business planning
Defining strategic assumptions
Building the strategic planning model using financial data
Various strategic and tactical approaches to business planning
Defining the Decision-Support model: Assumptions/Goals and Key Success Factors

DAY 2 - Analysing the Historical Data Using Excel®

Recognizing the Basic Patterns Inherent in Historical Data
Using the Exploratory Data Analysis Tools Available in Excel®
Development of Time Series Models using histograms, moving averages, exponential smoothing and regression analysis
Using Regression Analysis as a predictor and estimator
Mastering the use of Exponential Smoothing as a Data Analysis tool
Single Regression vs. Multiple Regression
Validation of Time Series Analysis

DAY 3

Approaches to Budget Development

Zero Base Budgeting
Activity based Budgeting
Rolling Budgets
Operational Unit Budgeting
Programme budgeting
Developing the Cash Budget

Using Activity based Budgeting

Developing the ABB application model
Budgeting for Processes rather than Departments
Defining Key Cost Drivers
Defining Key Activities
Development of ABB Cost Standards
Developing the Activity-Based Budget

DAY 4

Strategic and Operational Cost Analysis Techniques

Cost behaviour and breakeven analysis
Identifying fixed, variable and semi-variable costs
Application of Regression in the development of budgets
Building the financial simulation model using articulated financial statements
Building the financial simulation model using deterministic simulation
Building the financial simulation model using probabilistic (Monte Carlo) simulation

Developing Manufacturing Standards

Material Standard Development
Labour Standard Development
Factory and Corporate Overhead Standard Development
Variance Analysis

DAY 5 - Defining and Testing Optimisation Techniques in Models Using Excel®

Basic Structure of All Optimisation Models
Different Forms and Applications of Optimization Models
Developing a Financial Optimisation Model
Performing Sensitivity Analysis of an Optimisation Model
Interpreting the Solution of an Optimisation Model to a Non-technical Manager
Lessons Learned and Lessons to be Learned

ASSESSMENT

Following attendance on the programme you are required to outline the budget process within the area of the organisation for which you have responsibility. You should bear in mind the topics covered on the programme.

Your conclusion should be accompanied by any recommendations you feel would help to reduce identified areas of concern to ensure the effective compilation of budgets in the future.

You are given 4 weeks to complete the assignment.

To Register on this seminar, please click here