Training on Budgeting, Planning & Management Reporting

Module 1: Planning Strategy and Corporate Governance

• What are planning strategies?
• Strategy analysis, choice & implementation
• The role of strategy maps in defining the business
• Effective and less effective management reporting practices
• The agency problem and corporate governance
• Planning requirements and the importance of working capital
• Case Study: Corporate governance failures and strategic misalignment
• Practical: Developing a strategy map and governance framework

Module 2: Forecasting Techniques for Budgeting

• Determining the purpose and objectives of forecasting
• Statistical analytical tools
• Quantitative analysis and forecasting methods
• Forecasting techniques and applications
• Agency problems in forecasting and solutions
• Causal analysis models (regression analysis)
• Using Excel® to analyze historical data
• Case Study: Forecasting errors and business impact
• Practical: Building forecasting models using Excel

Module 3: Budgets, Costs and Budgetary Control

• Why we budget- purpose and importance
• Planning and control processes
• Budget preparation and integration
• Cost behavior and classification
• Cost-Volume-Profit (CVP) and “what-if” analysis
• Standard costing and flexed budgets
• Variance analysis and interpretation
• Case Study: Budget overruns and cost control challenges
• Practical: Preparing a budget and performing variance analysis

Module 4: Activity-Based Costing & Activity-Based Budgeting

• Activity-Based Costing (ABC) principles
• Refinement of costing systems
• ABC in cost management
• Cost hierarchy and cost drivers
• Advantages and limitations of ABC systems
• Transition from traditional budgeting to Activity-Based Budgeting (ABB)
• Time-driven ABC for service organizations
• Behavioral aspects and motivation in budgeting
• Case Study: Implementing ABC in a real organization
• Practical: Designing an ABC/ABB model

Module 5: Performance Management and Beyond Budgeting

• Expanding performance measurement systems
• Shareholder value and Economic Value Added (EVA®)
• Beyond budgeting: integrating financial and non-financial measures
• Introduction to the Balanced Scorecard perspectives
• Case Study: Performance management transformation in organizations
• Practical: Developing a Balanced Scorecard and KPI framework