Integrated Budgeting and Financial Reporting Strategy
رقم | 1637 |
الكود | GFAS0153 |
العنوان | Integrated Budgeting and Financial Reporting Strategy |
القسم | Finance and Accounting |
التاريخ | 05 - 09 February |
مكان البرنامج | Amman |
الدولة | Jordan |
رسوم البرنامج | 4500 $ |
الوصف |
Why Attend: Planning and budgeting are must-have skills for all professionals regardless of their function or managerial level. This course covers the concept of budgeting as a planning tool, a financial device and a control mechanism. In addition, it provides the necessary application tools required to making long-term and short-term planning decisions.
Course Objectives
By the end of the course, participants will be able to: · Defend the importance of linking an organization's budget with its strategic plan · Demonstrate how the budget relates to the key financial statements: balance sheet, income statement, and cash flow · Prepare the key elements of an operating and capital budget and evaluate the different budgeting approaches used · Apply cost control tools, analyze management variance reports and take proper corrective action · Calculate different capital budgeting evaluation techniques as included in a capital expenditure proposal · Utilize cost-volume-profit analysis in making budgeting decisions
Course Outline: (Themes, Concepts, Issues and Skills): Introduction to the treasury function · The critical functions of management · Aligning the budget with the strategy of the organization · Road map to strategy · Budget as a planning tool · Control: the missing link · Planning pitfalls The key financial statements · The accounting system · The income statement · The balance sheet · The cash flow statement Budgeting: process and approaches · The advantages of budgeting · The budget process · Rolling budgets · The master budget · Operating and capital budgets · The budgeted financial statements · Approaches to budgeting: · Incremental budgeting · Zero based budgeting · Flexible budgeting · Kaizen budgeting and continuous improvement · Activity based budgeting · Tools of forecasting · Direct and indirect costs · Characteristics of an effective budget
· Problems in budgeting Fixed income securities and bonds’ valuations · Cost control · Budget as a control tool · The control process · Characteristics of an effective control system · Responsibility reporting · Variance analysis: identifying the components of variance · Variance analysis: taking the corrective action Capital expenditure budgeting and analysis · Time value of money · Simple versus compound interest · Identifying and analyzing cash flows · The discount rate: using cost of capital · Net Present Value (NPV) · Internal Rate of Return (IRR) · Profitability Index (PI) · Pay-Back Period (PBP) · Accounting Rate of Return (ARR) · Approval for Expenditure (AFE) · Sensitivity and risk analysis Cost-Volume-Profit analysis (CVP) · Identifying the fixed costs and variable costs · Computing breakeven point in units · Computing breakeven point in sales · Assumptions of CVP analysis · Using CVP in budgeting decisions |