TUESDAY & WEDNESDAY, SEPTEMBER 17 & 18, 2024 * 1:30PM TO 4:45PM VIA ZOOM
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!
Chairman of the Board
Entrepreneurs & Managers
Everyone interested in professionalizing the budget process in their organization.
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.
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
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
The Master Budget
4. The Cash Budget
Cash Receipts Budget
Cash Disbursements Budget
Interpreting the Cash Budget
5. The Operational Budget
Selling and Administrative Budget
Budgeted Income Statement
6. The Financial 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
9. Budgeting Applications
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.