TUESDAY & WEDNESDAY, SEPTEMBER 19 & 20, 2023 * 1:30PM TO 4:45PM
Budgeting plays a very critical role in the Planning-Budgeting-Strategy Execution cycle. You ready, aim, but cannot fire to its target without the right ammunition. After your organization develops it plan, it’s important to link it to a realistic budget.
This two-session webinar will provide participants the necessary skills to develop the master budget for an organization. Attendees will get a detailed tour on the approaches, processes, and contents of the various types of budgets. It will illustrate the whole budget process and prepare the various components of the master budget: operational budget, cash budget, financial budget, and capital expenditure budget. You will learn how to apply the budgeting tools and techniques in specific business situations.
This training is applicable to all types of industries. Attend and learn budgeting best practices for the benefit of your organization!
He was the Chairman of Finance and Accounting Department and Program Director of the Master in Development Management in Public Finance at the Asian Institute of Management. He was the Vice Chair of the Professional Regulatory Board of Accountancy and the Chair of Continuing Professional Development Council for Accountancy.
His current affiliations include Asian Development Bank as its National Capacity Development Expert in Public Financial Management and First Asia Institute of Technology and Humanities as its Dean of School of Graduate Studies.
His consulting experiences consist of engagements with The World Bank, Australian Agency for International Development, United States Agency for International Development, United Nations Development Programme, and European Commission.
He has written 4 books, 4 book chapters and over 50 research and technical papers.
Overview of the Seminar
The importance of a realistic budget cannot be overemphasized. As developing the strategic plan of a business has become imperative, the need to translate the plan into budget becomes critical. Clearly, strategies have to be linked with the budget and targets.
This two-session webinar will provide you with the necessary skills to develop the master budget of an organization. It details the approaches, processes, and contents of the various types of budgets. By and large, the seminar highlights the need to link the budget with performance measurement and explores methods to analyze the variances.
Objectives
At the end of the seminar, the participants will be able to:
a. Explain the relationship between a plan, the strategies, the budget, and performance measurement
b. Describe the modern roles of financial management and the essential attributes of the finance managers
c. Illustrate the whole budget process and prepare the various components of the master budget: operational budget, cash budget, financial budget, and capital expenditure budget
d. Analyze variances and interpret their causes
e. Apply budgeting tools and techniques in specific business situations
Course Contents
1. Plan-Budget Linkage
Why plan requires budget?
Translating Strategy Into Targets and Budgets
Aligning Budget with strategic Plan
Using Budget to Measure Performance
Behavioral Considerations in Budgeting
2. Financial Management in Business Organizations
Finance Function Transformation
Finance Function Migration
Four Faces of the CFO
Six Key Attributes that Set Leaders Apart
How Finance Leaders Boost Performance
3. The Budget Process
Types of Budgets
Benefits of Budgeting
Approaches in Budgeting
Contents of a Budget
Forecasting Methods
The Master Budget
4. The Cash Budget
Cash Receipts Budget
Cash Disbursements Budget
Interpreting the Cash Budget
Operating Cycle
5. The Operational Budget
Sales Budget
Production Budget
Selling and Administrative Budget
Budgeted Income Statement
6. The Financial Budget
Cash Budget
Budgeted Balance Sheet
7. The Capital Expenditure Budget
Nature of Capital Expenditures
Determining the Cost and Returns of Capital Expenditures
Evaluating the Capital Expenditures
8. Variance Analysis as a Budgetary Control
Analyzing Budget Performance
Identifying Causes of variances
Interpreting Variances
9. Budgeting Applications
Scenario Analysis
Scenario Analysis
Who Must Attend:
Business Owners, Entrepreneurs, Chairmen of the Board, Board Directors, CEOs, CFOs, Finance Directors and Managers, Budget Officers, Credit Analysts, Accountants, Financial Analysts, Planning officers, Business Consultants, Budget Analysts, Budget Preparers such as accounting clerks, and assistants.
Anyone interested in professionalizing their budgeting processes are invited. This is open to the General Public.
Contact Person: Kyra Gayle Villanueva
Mobile Number (+63 968) 851-2347
Telefax: (+632) 8842-7148 or 59
Email: kyra.cgbp@yahoo.com
