• Identify the links between strategic planning, budget setting, and performance measurement
  
  
• Use alternative approaches to costing for planning, budgeting and budgetary control
  
  
• Set an operating budget, cash budget, capital budget, and prepare a master budget
  
  
• Develop budgetary control systems, and analyse variances using flexed budgets
  
  
• Integrate continuous performance improvement into the budget process and link budgets and KPIs with strategy using the balanced scorecard
  
  

TRAINING METHODOLOGY

Individuals with varied experience and knowledge are encouraged to share their own experience and consider alternative approaches introduced during the training seminar. Formal presentations will be supported by numerous worked examples, the use of real-world scenarios and group discussion. In this supportive and interactive workshop environment, your Instructor will facilitate team case studies and exercises that will reinforce the hands-on application of each of the learning points and topics covered.

Difficult mathematical concepts are minimised wherever possible and handled in a visual and user-friendly way – our aim is for this to be an enjoyable learning experience.

ORGANISATIONAL IMPACT

Participants in this ADGETECH training seminar will provide benefits for their organisation from the skill set and enhanced knowledge that they will take back to the workplace:

• Thinking strategically to enhance their understanding of the annual budget setting process and its links with the organisation's longer-term plans and financing requirements
  
  
• Choosing the most appropriate approach to costing for more accurate planning and budgeting, better budgetary control, and improved actual performance
  
  
• Improved forecasting and budgeting resulting in more efficient use of resources and exploitation of value-adding opportunities
  
  
• Evaluating the financial consequences of budgeting for alternative new capital investment projects using Discounted Cash Flow (DCF) to optimise organisational value creation
  
  
• Applying effective budgetary control using flexed budgets and variance analysis, the balanced scorecard, and identifying ways the organisation's budget process may be improved
  
  
• Communicating more effectively with other professionals and sharing knowledge gained from the seminar throughout the organisation
  
  

PERSONAL IMPACT

Participants in this ADGETECH Setting & Controlling Budgets training seminar will greatly improve their understanding of the links between the strategic planning and budget setting processes, and develop their application of budgeting and budgetary control best practice through:

• Developing their ability to think strategically and prepare successful financial plans and budgets and determine the financing requirements of the organisation
  
  
• Comparing fixed and variable costs, direct and indirect costs, and the use of contribution accounting and Cost / Volume / Profit (CVP) analysis
  
  
• Applying traditional and Activity-Based Costing (ABC) methods and allocation of overhead costs for planning, budget setting and budgetary control
  
  
• Using the appropriate techniques of forecasting sales and costs, and sales pricing, and preparation of departmental budgets, the master budget, and cash budget
  
  
• Capital budgeting using the Discounted Cash Flow (DCF) techniques of Net Present Value (NPV), Internal Rate of Return (IRR), and the Profitability Index (PI)
  
  
• The use of standard costing in budgetary control using flexed budgets and variance analysis, the balanced scorecard, and evaluating ways of improving the organisational budget process
  
  

WHO SHOULD ATTEND?

It is crucially important for everyone involved in strategic planning, budgeting and budgetary control to be conversant with their best practice because their practical application impacts directly on the relevance and accuracy of the annual budget in ensuring that organisational goals are met.

This ADGETECH Setting & Controlling Budgets training seminar is suitable for a range of personnel from companies, corporations and governmental organisations and, in addition to financial analysts, controllers, accountants and departmental managers active in the planning and budget setting processes, will benefit business professionals working in:

• General Management
  
  
• Estimating and Costing
  
  
• Operations
  
  
• Facilities Management
  
  
• Sales and Marketing
  
  
• Quality Management
  
  
• Engineering
  
  
• Project Management
  
  
• Procurement
  
  
• Logistics
  
  
• Research and Development
  
  
• Asset Management
  
  
• Human Resources
  
  
• And any other financial and non-financial personnel that need or wish to understand planning, budget setting and budgetary control