Financial Analysis & Budgeting Preparation Masterclass

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Course Description

MODULES

This training course is split into two modules:

MODULE I - Financial Analysis, Planning & Control

MODULE II - Budget Preparation, Allocation and Cost Control

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: Financial Analysis, Planning & Control

Day 1

The Challenge of Financial Economic Decision-Making

The Practice of Financial / Economic Analysis
The Value-creating Company
Corporate Value and Shareholder Value
A Dynamic Perspective of Business
The Agency Problem and Corporate Governance
What information and data to use?
The Nature of Financial Statements
The Context of Financial Analysis and Decision-making

Day 2

Assessment of Business Performance

Ratio Analysis and Business Performance
Management’s Point of View
Owners’ Point of View
Lenders’ Point of View
Ratios as a System – Pyramids of Ratios
Integration of Financial Performance Analysis
Economic Value Added (EVA)
Predicting Financial Distress and Z-score Model

Day 3

Analysis of Investment Decisions

Applying Time-adjusted Measures
Net Present Value (NPV) and Internal Rate of Return (IRR)
Modified Internal Rate of Return (MIRR)
Strategic Perspective
EVA and NPV
Refinements of Investment Analysis
Equivalent Annual Cost (EAC)
Sensitivity Analysis, Scenario Analysis, Simulation, and NPV Break-even
Dealing with Risk and Changing Circumstances

Day 4

Projection of Financial Requirements

Interrelationship of Financial Projections
Operating Budgets
Standard Costing and Variance Analysis
Cash Forecasts and Cash Budgets
Sensitivity Analysis
Dynamics and Growth of the Business System
Operating Leverage
Financial Growth Plans
Financial Modelling

Day 5

Valuation and Business Performance

Managing for Shareholder Value
Shareholder Value Creation in Perspective
Evolution of Value-based Methodologies
Creating Value in Restructuring and Combinations
Financial Strategy in Acquisitions
Business Valuation
Business Restructuring and Reorganisations
Management Buy Outs (MBOs) and Management Buy Ins (MBIs)

Module 2: Budget Preparation, Allocation and Cost Control

Day 6

Budgeting & Cost Control in the Management System: Link with Strategic Planning

Budgeting and the Management System of Contemporary Organizations
Strategic Planning, Budgeting and Management Control
Strategic Management Accounting – Setting Goal and Objectives
From Strategic to Operating Plans – Actions and Initiatives
Measuring and Managing the Performance – KPIs and targets
Managerial Accountability

Day 7

Budgeting: Principles and Key Concepts

Understanding the Context for Budgeting
The Benefit of Budgeting and its Role for Achieving Organizational Targets
The Shortcomings of the Budgeting Process - How to improve them?
Principles of Budgeting
Main Issues with Budget Preparation
Capex (Capital Expenditures) vs. Opex (Operational Expenditures)

Day 8

Cost Analysis for Budgetary Purposes

Cost Concepts and Terminology
Different Costs for Different Purposes
Fixed vs. Variable Costs: The Cost-Volume-Profit Analysis Model
Contribution Margin Analysis
Manufacturing vs. Non-manufacturing Costs
Period vs. Product Costs

Day 9

Traditional vs. Advanced Techniques in Cost-Control

Under-costing and Over-costing: Understand Allocation Methods
How to refine a Costing System?
Indirect (OH) vs. Direct Costs
Traditional Cost Allocations Systems vs. Activity-Based Costing (ABC)
Cost Hierarchy & Cost Drivers - Linking Resources, Activities and Management
Introducing Activity-Based Budgeting (ABB) and Management (ABM)

Day 10

New Integrated Performance Measurement Systems

Beyond Budgeting: Integrating Financial and Pre-financial Information
The Drivers of Value Creation
The Balanced Scorecard
Strategy Maps
Integrated Reporting

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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