Financial Budgeting and Control

SMART Financial Budgeting and Control is a two-day workshop where learners will be able to grasp in-depth understanding of Budgeting Concepts and Methodology surrounding cost management and budgeting.

This cost is designed to help learners identify various types of budgets and provide learners the insights of an effective business unit’s operational budgets and its budget control system.

Objective

By the end of the course, learners will be able to:

• Understand the purpose and flow of budget preparation process

• Prepare various types of budgets, seek approval, and implement budgetary control

• Analyse business strategies and objectives and gain insights of cost behaviour

• Perform financial analysis to interpret business performance and highlight discrepancies

• Use budget as a regular working tool to manage the business performance

• Perform financial control to ensure compliance

• Use and appreciate a cloud-based accounting software to prepare financial budget

Outline

Introduction

• What is Budget?

The Basics of Budgeting

• Define the Importance of Budget

• Types of Budgets

• Understand where your budget fits in

The Fundamentals of Finance

• General Accepted Accounting Principles

The Budgeting Preparation Process

Monitoring and Managing Budgets

• Budget Control Plan

Budget Analysis

• Compare Budget with Forecast and Actual

• Financial Analysis

Getting Your Budget Approved

• Budget Approval Process

• Stakeholder Precautions

Comparing Investment Opportunities

• Payback Period,

• Break-Even Point

• Cost-Benefit Analysis

• Return of Investment

Case Study

• Preparing a financial budget

• Make decision based on different case study scenarios

Cloud-Based Accounting Software for Budgeting

Who Should Attend

• Finance and Non-Finance Professional including Finance & Accounting Executives, Accountants, Heads of Department, Business Heads, GMs, and Entrepreneurs

Methodology

This course will be conducted where quizzes and group work will be used to reinforce learning. Illustrations and real-world examples from the trainer and participants experiences will be shared during the course.

Case Studies, Discussion and Scenario-play and accounting software will be used to facilitate practical learning.