ABOUT THE COURSE

This seminar deals comprehensively with the questions you have always wanted to ask about planning, budget setting, and budgetary control, in plain language that is easy to understand. It covers in detail how the tools and techniques of successful budgeting and budgetary control are applied within the overall planning framework to ensure that organisational goals are met.

This seminar clarifies the jargon and methodology, and the links between strategy, budgeting, costing and performance measurement. The Instructors own commercial career experiences and many other real-world business scenarios are shared throughout this stimulating seminar to illustrate and reinforce the practical application of the tools and techniques and best practice.

This seminar will highlight:

• Strategic planning, budget setting, performance measurement, and shareholder wealth maximisation

• Full costing, marginal costing, and activity based costing (ABC)

• Operating budgets, cash budgets, capital budgets, and master budgets

• Fixed budgets, flexed budgets, and variance analysis

• Continuous performance improvement, and the balanced scorecard

COURSE OBJECTIVES

By the end of this seminar, participants will have learned how to:

• Identify the links between strategic planning, budget setting, and performance measurement

• Use alternative approaches to costing for planning, budgeting and budgetary control

• Set an operating budget, cash budget, capital budget, and prepare a master budget

• Develop budgetary control systems, and analyse variances using flexed budgets

• Integrate continuous performance improvement into the budget process and link budgets and KPIs with strategy using the balanced scorecard