(Click Category to List Courses)

4 - AAU - Accounting and Financial Auditing

AAU 125 - Budgeting, Planning and Management Reporting

Code Start Date Duration Venue
AAU 125 09 October 2023 5 Days Istanbul Registration Form Link
AAU 125 04 December 2023 5 Days Istanbul Registration Form Link
Please contact us for fees


Course Description

Budgeting lies at the heart of business management, yet businesses often encounter financial difficulties as a result of either inadequate planning or errors within the compilation of the budgets. This programme takes a practical approach to financial planning for the organisation and considers the planning process and how to improve it, the compilation of budgets – who needs to be involved and why, and how to identify potential problems arising and suggests actions which can be taken. It also covers ways of improving financial control using effective management reporting.

Course Objectives

  • Implementing advanced planning and control techniques into your budgeting process
  • Integrating the budgeting process with the development of the company’s long-term strategic vision
  • Successfully building an integrated planning, budgeting and reporting process
  • Applying management tools to the budgeting process that contribute to strategic goals
  • Identifying key performance indicators for effective and focused decision making
  • Increasing profitability and performance through stream lined planning and reporting

Who Should Attend?

  • HR Staff
  • Supervisors
  • Managers
  • Those who need to improve their knowledge of budgeting, planning and management reporting

Course Details/Schedule

Day 1

  • Planning for success
  • What are planning strategies?
  • Strategy analysis, choice & implementation
  • Introducing the strategy maps
  • Corporate value and shareholder value
  • The agency problem and corporate governance
  • Planning requirements and working capital

Day 2

  • The forecasting process
  • Determine the purpose and objective of the forecast
  • Statistical analytical tools
  • Quantitative analysis and forecasting
  • Forecasting techniques
  • Causal analysis models – regression analysis
  • Using Excel ® to analyse historical data

Day 3

  • Budgets, costs and budgetary control
  • Why do we need budget?
  • Planning and control
  • Putting the budget together
  • Cost behaviour and classification
  • Cost / volume /profit (CVP) and ‘what-if’ analysis
  • Standard costing
  • Flexed budgets
  • Variance analysis and the reasons for variances

Day 4

  • Activity Based Costing (ABC) And Activity Based Budgeting (ABB)
  • Refinement of the costing system
  • ABC and cost management
  • Design of ABC systems
  • The cost hierarchy and cost drivers
  • Advantages and disadvantages of ABC systems
  • From traditional budgeting to activity based budgeting (ABB)
  • The ABB process
  • Motivation and the behavioural aspect of budgeting

Day 5

  • Measuring corporate performance
  • Requirements of a successful performance measurement system
  • Broadening performance measurement systems
  • Economic Value Added (EVA)
  • Beyond budgeting: integrating financial and non-financial issues
  • Introducing the Balanced Scorecard and the key perspective