New Trends in Budget Monitoring, Cost Financing and Financial Planning

On daily basis, businesses must deal with budgets and financial reports in one form or another.

At minimum, business managers review budget numbers and run financial reports for decision-making and reporting to shareholders and regulators (usually as often as once a month). Many companies devote the last few months of the calendar year to creating budgets for the next calendar year. In addition, organizations create and disseminate year-end financial reports to investors and sponsors.

This gives participants a renewed understanding of budgets and financial re-ports so they can hold relevant discussions, render decisions based on financial data and play an active part in financial decision making. It defines and analyses key terms like ROI, EBIT, GAAP, and extrapolation. Furthermore, it discusses commonly used financial terms, financial statements, budgets, forecasting, purchasing decisions, and laws that regulate the handling of financial information.

The programme provides an easy to use toolkit for personnel responsible for preparing organizations estimates, budget monitoring, salary forecasting, estimating income, financial planning, resource allocation model and completing various returns forecasting / planning.

Objectives

Identify financial terminology, including what is finance; commonly used terms; key players; important financial organizations; understanding GAAP; etc.
Understand financial statements, including managing balance sheets; reviewing income statements; statement of retained earnings and cash flows; annual reports.
Identify how to analyse financial statements, including analysis of income ratios; profitability ratios; liquidity ratios; working capital ratios; bankruptcy ratios; long-term analysis ratios; coverage ratios; leverage ratios; calculating return on investment (ROI); etc.
Understand budgets, including common types of budgets; necessary information; who should be involved; how budgets are composed; etc.
Learn how to make budgeting easy, including factoring in organisational historical data; gathering related information; adjusting for special circumstances; putting it all together; computer based methods; etc.
Understand advanced forecasting techniques, including using the average; regression analysis; how extrapolation works; formal financial models; etc.
Understand how to manage the budget, including how to tell all is okay; knowing when a budget should be updated; keeping diary of lessons learned; when to panic; etc.
Identify how to make smart purchasing decisions, including essential questions; determining payback period; deciding whether to lease or buy; thinking outside the box; etc.
Identify the legal aspects of finances, including a brief history; the Sarbanes-Oxley act; CEO/CFO certification; the company law directive; etc.

Who should attend

This programme is recommended for top business managers, senior/middle level officers in corporate banking, senior finance officers in government sectors directly responsible for financial management and budgeting, managers of government functionaries, and senior managers in other public and private sectors.