Budget is an inherent part of the financial planning process both in the public sector as well as the private sector. In the public sector, the budget effects almost every citizen and forms the basis of a government’s fiscal policy. It is also a crucial document to plan for future development expenditure. Given the size of public sector expenditure, all appointed budget analysts must have the right skills to deal with forthcoming challenges.

Budget analysts at all levels of the government are responsible for determining how to distribute resources effectively among various departments and development programmes. Budget analysts also help measure performance, analyse financial results and help draft budget-related legislation.

Organisations hire a budget analyst to keep a check on all finances, making sure expenditures are on track. Their scope of work involves helping organizations keep a close eye on current finances and plan future budget decisions ahead of time.

Duration:           5 days

Who should attend?

• Budgeting and planning personnel
• Revenue Department personnel
• Chief Executives
• Financial Controllers
• Departmental managers
• Internal Auditors
• Data analysts
• Risk Officers

Course objectives

The objectives of this course are to ensure that the participants:

• Appreciate the importance of budget preparation exercise
• Critically review the assumptions made in the budget preparation exercise
• Understand different types of budgets and use the one most appropriate to the organization.
• Learn to prepare the organization’s budget from the scratch
• Learn to differentiate between capital and revenue expenditure
• Project Various Types of Expenditures
• Estimate Working Capital Needs
• Compare actual results with the budgeted figures and conduct variance analysis
• Understand Various sources of finance with their utilisation, based on the cost of capital
• Obtain an overview of the financial statements and management reports to evaluate the organisation’s performance
• Understand ratio, horizontal and vertical analytical concepts
• Prepare forward plans based on interim quarterly and half-yearly results
• Know the benefits of having an excellent E.R.P system

Course Content

Module 1: Introduction to budgeting and the financial statements

• Planning and budgeting concepts
• Budget methodologies
• Risk, uncertainties and assumptions
• Sensitivity Analysis

Module 2: Different approaches to preparing budgets

• Preparation of Master Budget
• Fixed v/s Flexible Budgets
• Quarterly Reviews
• Forward Planning
• Budget/ Actual Comparison
• Zero-based Budgets

Module 3: Budget Preparation

• Accounting Conventions
• Accounting Policies
• Revenue Recognition
• Cash v/s Accrual Accounting
• International Accounting Standards (IAS)
• International Public Sector Accounting Standards (IPSAS)
• WorldCom / Enron Scandals

Module 4: Financial Modelling

• Components of Financial Reports
• Balance Sheet
• Profit & Loss Statement
• Statement of Cash Flow
• Statement of Changes in Equity
• Accompanying Notes to the Accounts

Module 5: Controlling and analysing budgets

• Market trends and analysis
• Ratio Analysis
• Vertical Balance Sheet & P&L Statement
• Horizontal Balance Sheet & P&L Statement
• Variance Analysis
• Price Variance
• Quantity Variance
• Mix Variance

Module 6: Cost Accounting

• Total Absorption Costing
• Marginal Costing
• Contribution Margin
• Break-even Analysis
• Sensitivity Analysis

Module 7: Sources of Finance

• Equity and Debt Financing
• Gearing ratios
• Cost of Capital
• Weighted Average Cost of Capital
• Decisions regarding Dividend Payments

Module 8: Working Capital Control

• Inventory Control
• Accounts Receivable
• Accounts Payable
• Reconciliation of Sub-ledgers
• Other Current Assets & Current Liabilities
• Tax and Deferred Taxation

Module 9: Public Sector Development / Capex

• Capital Investment Appraisal
• Return on Investment
• Payback period
• Net present Value
• Internal Rate of Return
• Public/ Private Partnership projects

Module 10: Enterprise Resource Planning (ERP)

• Sales
• Bill of material
• Material Management
• Procurement
• Production

Training Approach

This course will be delivered by our skilled trainers who have vast knowledge and experience as expert professionals in the fields. The course is taught in English and through a mix of theory, practical activities, group discussion and case studies. Course manuals and additional training materials will be provided to the participants upon completion of the training.

Tailor-Made Course

This course can also be tailor-made to meet organization requirement.

Training Venue 

The training will be held at our Upskill Training Centre. We also offer training for a group at requested location all over the world. The course fee covers the course tuition, training materials, two break refreshments, and buffet lunch.

Visa application, travel expenses, airport transfers, dinners, accommodation, insurance, and other personal expenses are catered by the participant

Certification

Participants will be issued with Upskill certificate upon completion of this course.

Airport Pickup and Accommodation

Airport pickup and accommodation is arranged upon request.

Terms of Payment: Unless otherwise agreed between the two parties, payment of the course fee should be done 3 working days before commencement of the training to enable us to prepare better

Course Booking

Please use the “book now” or “inquire” buttons on this page to either book your space or make further enquiries.