Schedules Outline

Home / Finance & Budgeting / The 10-Day Budgeting & International Financial Reporting Standards (IFRS)

Course Schedule

Classroom Sessions:

Date	Venue	Fees
22 Jul - 02 Aug 2024	London - UK	$11,900
07 - 18 Oct 2024	Rome - Italy	$11,900
16 - 27 Dec 2024	Paris - France	$11,900

Course Description

MODULES

This training course is split into two modules:

MODULE I - Budgeting For Performance Management

MODULE II - International Financial Reporting Standards (IFRS)

Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a 2-week training course.

Course Outline

Module 1: Budgeting For Performance Management

DAY 1

Budgeting and Business Performance Management

Creating value for key organisational stakeholders
Business Performance Management (BPM) frameworks
The fundamentals of competitive strategy
The vital role of budgeting and cost management in BPM
Principles of financial and management accounting
Key financial measures of value creation
Using strategy maps to integrate non-financial measures

DAY 2

Cost Planning and Cost Management

Defining and understanding cost behaviour
The role of costing in performance management
Traditional costing: absorption costing
Traditional costing: marginal costing and break-even analysis
Traditional costing: standard costing control frameworks
Developments in costing: Target and Kaizen costing
Developments in costing: Activity Based Costing (ABC)
A strategic approach to cost management and reduction

DAY 3

Steps and Techniques in Budget Preparation

Forecasting techniques for budgeting
Business Intelligence and budgeting
Diagnostic and predictive analytics for budgeting
Statistical tools and techniques in sales forecasting
Statistical tools and techniques for cost forecasting
Steps in the budgeting process
Budgeting and managing capital expenditure (CapEx)
Cash flow forecasting and budgeting
Styles and approaches to budgeting
Human and behavioural aspects of budgeting

DAY 4

Using Budgets to Monitor and Manage Performance

Principles of Responsibility Accounting
Variance analysis and performance management
Standard costing and cost management
Using data analytics to find the root cause of variances
Data visualisation techniques for financial reports
Designing budget reports
Dashboards and their use in performance management
Designing tactical dashboards for budget management

DAY 5

Beyond Budgeting to Adaptive Management

Shortcomings of traditional approaches to budgeting
Beyond Budgeting case study
Moving towards decentralised performance management
Replacing budgets with rolling forecasts
Using key driver forecasts for risk management
Using balanced scorecard to manage Key Performance Indicators
Why traditional budgeting still has a key role to play

Module 2: International Financial Reporting Standards (IFRS)

DAY 6

The Role & Scope of IFRS

Establishing the case for IFRS
International accounting diversity
IFRS & US GAAP
The role & scope of IFRS & IAS
The IASB conceptual framework
IFRS, accounting concepts & policies

DAY 7

The Presentation & Preparation of Financial Statements

The annual reports & financial statements
IAS 1 presentation of financial statements
Preparing the income statement
Preparing the statement of financial position
IAS & statement of cashflow
Notes & disclosures

DAY 8

Accounting for Cash Flow & Financial Instruments

The importance of cash flow
Preparing a statement of cash flows in accordance with IFRS 7
Evaluating the cash flow
What are financial instruments & derivatives?
IFRS 7 financial instruments: Disclosures
IFRS 9 financial instruments

DAY 9

Accounting for Assets

Tangible & intangible assets
IAS 16: Property, plant and equipment and Depletion, Depreciation & Amortisation (DD&A)
IAS 36: Impairment of assets
IFRS 13 fair value measurement
IAS 38: Intangible assets
IAS 2 inventories

DAY 10

Accounting for Strategic Alliances & Business Combinations

Strategic alliances mergers & acquisitions
Goodwill
IFRS 3 business combinations
IFRS 10: Consolidated financial statements
IFRS 11: Joint arrangements
IFRS 12: Disclosure of interests on other entities

Certificates

On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance

Providers and Associations

Endorsed Education Provider

GLOMACS is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org

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