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Integrated Budgeting, Forecasting and Business Planning Training

By: LCL Coaches Consultants  

Lagos State, Nigeria

12 - 15 Oct, 2021  4 days

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NGN 145,000

Venue: Lagos

This course will allow the participant to explore and share with other participants new thoughts in the planning, control, and budgeting cycle, resulting in a renewed energy in returning to the workplace and implementing a more focused budgeting process, which communicates useful and timely information to management.

At the end of the training, participants will:

  • Acquire best practices in budgeting
  • Understand the strategic role of cost concepts
  • Explain the costs concepts to the use of cost information for management control
  • Describe the role of budgets in the management process
  • Discuss the importance of strategy and its role in the master budget
  • Prepare a master budget and explain the interrelationships among its supporting schedule
  • Understand zero-base, activity based, and kaizen approaches to budgeting
  • Explain the essence of control systems
  • Develop flexible budgets for evaluating short-term financial performance
  • Identify different cost control measures
  • Measure and evaluate performance

Day one

Building a Common Financial Language

  • The key role of budgeting and cost control in contemporary organizations
  • The 21st-century business imperative: delivering value-added (but to whom?)
  • Financial vs. Managerial accounting (for decision making)
  • Understand your processes: integrating financial and non-financial aspects
  • The budgeting process

Strategic Planning

  • Key elements in strategic planning
  • Finance’ role in supporting strategic planning
  • Assessing financial impact of strategic choices
  • Challenging the operational and people impact of strategic choices

Day Two

Budgeting

  • The key features of budgeting
  • Advantages and concerns with budgeting
  • Accountability and centers of responsibility
  • Zero-based budgeting
  • Setting budget targets and goals
  • Budget responsibility centers
  • Categorizing and regrouping relevant information
  • The key budgetary statements
  • Budgeting Pitfalls
  • Budgeting and cost control

Types of Budgets

  • Departmental budgets
  • Cash budgets
  • Capital and operating budgets
  • Master budgets
  • Budgeting Methods
  • Top-down and bottom-up budgeting
  • Zero-based and activity based budgeting
  • Multiple-scenario based and flexible budgeting

Day Three

Rolling Forecasts Overview

  • Role of forecasts and the link to strategy
  • Comparing and contrasting budgets and forecasts
  • Why have a rolling forecast?
  • The rolling forecast process
  • Creating a forecast for revenue and expenditure
  • Rolling forecast as a catalyst for change
  • Identifying key business drivers

Forecasting Templates

  • Actual template
  • Variance reporting template
  • Reporting template

Annual Budget and Forecasting Cycle

  • Key drivers behind sales, costs and margins
  • Scenario planning for uncertain futures
  • Budget and forecasting timetable

Day Four

Cost Analysis

  • Different costs for different purposes
  • Fixed vs. Variable costs
  • The Cost-Volume-Profit analysis model
  • Contribution Margin analysis

Traditional versus Advanced Techniques in Cost-Control

  • Under-costing and over-costing: the consequences for profitability
  • Indirect (OH) vs. Direct costs:
  • Traditional Cost Allocations systems vs. Activity-Based Costing (ABC)
  • Linking resources, activities, and management
  • Variance analysis
Lagos Oct 12 - 15 Oct, 2021
NGN 145,000.00
(Convert Currency)

Olusina Lajorin 08033241313

Group Booking Discount Applies

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