Budgeting, Planning & Management Reporting

Course Introduction

This Oxford Management Centre Budgeting, Planning & Management Reporting training course provides participants with key cost awareness and budgetary skills, which are essential for managing and controlling resources in times of increasing global competition where the budgets are inextricably linked with both the achievement of strategic objectives as well as with evaluation of future and initiatives.

Budgeting lies at the heart of business management, yet businesses often encounter planning and financial difficulties as a result of either inadequate planning, lack of understanding of the business, or errors within the compilation of the budgets. Ineffective management reports heighten the challenge in collating inputs to the budget and use of budgeted information.

In addressing these issues, this training course is relevant for those professionals & analysts facing the difficult challenge of improving performance while reducing costs of those processes for which there are accountable.

This Budgeting, Planning& Management Reporting training course enables participants to:

• Link budgeting and costing with strategy execution
• Understand the critical factors which have an impact on business processes
• Discuss about modern system of cost analysis for budgeting purposes
• Master the budgeting and financial skills required for better decision-making
• Identify sources of financial and operational data to support the budgeting process
• Explore the best practices required to manage the multiple organizational performances

Objectives

By the end of this Budgeting, Planning& Management Reporting training course, you will be able to:

• Link budgeting and costing with strategy execution
• Understand the critical factors which have an impact on business processes
• Discuss about modern system of cost analysis for budgeting purposes
• Master the budgeting and financial skills required for better decision-making
• Explore the best practices required to manage the multiple organizational performances

Training Methodology

This training course will be conducted along workshop principles with formal lectures, case studies and interactive worked examples. Relevant case studies will be provided to illustrate the application of each tool in an operations environment. Each learning point will be re-enforced with practical exercises.

Organisational Impact

• Cost and budgeting awareness will be enhanced
• Higher chances to design or select a budgetary system that works
• Broadened knowledge of performance management techniques
• Better attitude to link cost and budgeting to strategy and performance measurement
• Deeper understanding of cause and effect relationship for budgeting purposes
• Better awareness of non-financial implications of budgeting and cost management

Course Outline

Day One

DAY 1 : Planning Strategy and Corporate Governance 

Day Two

DAY 2 : Forecasting Techniques for Budgeting 

Day Three

Budgets, Costs and Budgetary Control 

Day Four

Activity Based Costing & Activity Based Budgeting 

Day Five

Performance Management and Beyond Budgeting