This 10-day GLOMACS training seminar brings together important areas of Financial Management, Planning and Control: Financial Analysis, Planning and Control - Setting & Controlling Budgets.
It will help business professionals:
Plan more effectively for the future
Use the financial techniques of planning and control
Improve performance from the use of the tools of financial analysis
Link planning and budgeting with costing and performance measurement
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.
Objectives
This GLOMACS training seminar provides delegates with the knowledge required to find better answers to questions such as:
Which specific variables, relationships, and trends are likely to be helpful in analyzing problems?
How reliable are available financial data, and how is uncertainty and risk likely to impact on the outcomes of decisions?
In economic and financial analysis, what are the implications and relative importance of cash flow as distinct from accounting profit?
What limitations are inherent in financial data and the key financial statements, and how will these affect financial analysis?
How important are qualitative judgments in the context of decision-making?
And to focus on key issues such as:
Understand strategic planning and budgeting
Link finance and operations for budgeting purposes and strategy execution
Learn how to build a comprehensive performance measurement system
Learn costing and budgeting terminology used in business
Understand the importance of a well-defined costing and budgeting process
Understand cost behaviour more accurately
Be able to perform and interpret variance analysis
Training Methodology
This GLOMACS Financial Analysis, Planning & Controlling Budgets training seminar includes numerous practical examples and real life illustrations, and participative exercises and case studies. It will be presented in a very user-friendly way to suit individuals with varying levels of financial knowledge and experience. Our aim is for this to be an enjoyable learning experience. The training methodology combines presentations, discussions, team exercises and case studies. Delegates will gain both a theoretical and a practical knowledge of all the topics covered. The emphasis is on the practical application of the topics and as a result delegates will return to the workplace with both the ability and the confidence to apply the techniques learned.
All delegates will receive a comprehensive manual of the seminar to take back to the company, which will serve as a useful source of reference in the future. In addition, all delegates will receive a USB containing a soft copy of the manual and additional material such as Excel models used during this GLOMACS training seminar.
Organisational Impact
Recognise the importance of finance as a component of the strategic decision-making process
Appreciate the significance of the theoretical concepts underlying the use of financial tools in the strategic decision-making process
Apply the appropriate financial tools in the strategic decision-making process
Identify the impact of external factors on a company’s strategic financial plans and decision-making
Organisations should benefit from an increase in the ability of their managers to understand and analyse the key financial statements and anticipate the financial factors that form the basis of strategic decision-making, which should ultimately result in better strategic planning, and improved company performance
Personal Impact
This GLOMACS training seminar will enable delegates to:
Broaden their financial knowledge, develop and manage the financial aspects of their role more effectively, and enhance their performance
Increase their self-confidence in dealing with financial issues and financial professionals
Have a better understanding of how financial considerations help to support an organisation's strategic decisions
Better appreciate how such decisions may affect their own departments or business units, as well as their companies
Acquire the ability, when involved in decisions about investment, operations, or financing, to choose the most appropriate tools from the wide variety of financial techniques available to provide a quantitative analysis
Who Should Attend?
This GLOMACS Financial Analysis, Planning & Controlling Budgets training seminar is designed for business professionals that need or wish to understand the financial aspects of the strategic decision making process.
It is crucial for every role and at every management level in the organisation, including for example:
Sales and Marketing
Engineering
Project Management
Purchasing
Logistics
Human Resources
And is a ‘must’ for:
Interns, financial analysts, financial controllers, accountants, treasurers, corporate planning and business development professionals, and others active in the planning process
Middle and junior management as a useful element in their career advancement
All participants will be able to offer their input, based on their individual experiences, and will find this GLOMACS training seminar a useful forum for upgrading and enhancing their understanding of best corporate financial practices in the areas covered.
Course Outline
Module I: Financial Analysis, Planning and 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 II: Setting and Controlling Budgets
DAY 6
Strategic and Financial Planning
Financial Accounting and Management Accounting
The Links between Strategic Planning, Budget Setting, and Performance Measurement
Planning and Strategic Management
Mission, Vision, and Objectives
The Planning Process
External Environment Analysis, Internal Resources Analysis, SWOT and PESTEL
Shareholder Wealth Maximisation, value Creation and Financial Strategy
Financial Planning and Modelling, and Long-term and Short-term Financing
Product Costs and Period Costs – product costing for inventory valuation and profit ascertainment
Direct costs, Indirect costs, Absorption Costing and Marginal costing
Product Costing for Budget Setting, Budgetary Control and Performance Measurement
Refinement of the Costing System and Activity-Based Costing (ABC)
DAY 8
The Framework for Budgeting
What is a Budget – and Why Budget?
The Budgeting Framework and the Various Types of Budgets: top down; bottom up; incremental; zero-based; activity-based
The Budget Process
Qualitative and Quantitative Techniques of Forecasting Sales and Costs, and Sales Pricing
Budgeting for Labour Costs and Depreciation
The Departmental Budget
Preparation of the Master Budget and the Cash Forecast / Budget
The Human Side and the Behavioural Aspects of Budgeting
DAY 9
Activity-Based Budgeting (ABB), Capital Budgeting, Budgetary Control and Variance Analysis
How the Budget is controlled in your Organisation
Activity-Based Budgeting (ABB)
Budgeting for Capital Projects
Discounted Cash Flow (DCF) investment appraisal methods of Net Present Value (NPV) and Internal Rate of Return
Capital rationing and the Profitability Index (PI)
Budgetary Control Systems and Responsibility Accounting
Standard Costing for Budgeting and Budgetary Control
Fixed Budgets, Flexed Budgets, Variance Analysis and the reasons for variances
DAY 10
Beyond Budgeting – Broadening Performance Measurement Systems
Integrating continuous improvement into the Budget Process
Advantages and Disadvantages of Budgeting
How to Improve the Budget Process in your organisation
The Conflict between Performance Improvement and the Costing System
Lean Thinking and Performance Improvement
What next – beyond the Budget?
The Balanced Scorecard – linking strategy with budgeting and with performance measurement
Developing and Adapting the Balanced Scorecard: financial perspective; customer perspective; internal business process perspective; learning and growth perspective
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
In Association With
Oxford Management Centre
A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients.
Decision-making, Performance Assessments, Budgeting and Costing Techniques
Upcoming Dates
Code
Date
Venue
Fees
FI011
31 Jul - 11 Aug 2023
Paris - France
$11,900
FI011
18 - 29 Sep 2023
Amsterdam - The Netherlands
$11,900
FI011
04 - 15 Dec 2023
Amsterdam - The Netherlands
$11,900
Introduction
This 10-day GLOMACS training seminar brings together important areas of Financial Management, Planning and Control: Financial Analysis, Planning and Control - Setting & Controlling Budgets.
It will help business professionals:
Plan more effectively for the future
Use the financial techniques of planning and control
Improve performance from the use of the tools of financial analysis
Link planning and budgeting with costing and performance measurement
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 two-week training course.
Objectives
This GLOMACS training seminar provides delegates with the knowledge required to find better answers to questions such as:
Which specific variables, relationships, and trends are likely to be helpful in analyzing problems?
How reliable are available financial data, and how is uncertainty and risk likely to impact on the outcomes of decisions?
In economic and financial analysis, what are the implications and relative importance of cash flow as distinct from accounting profit?
What limitations are inherent in financial data and the key financial statements, and how will these affect financial analysis?
How important are qualitative judgments in the context of decision-making?
And to focus on key issues such as:
Understand strategic planning and budgeting
Link finance and operations for budgeting purposes and strategy execution
Learn how to build a comprehensive performance measurement system
Learn costing and budgeting terminology used in business
Understand the importance of a well-defined costing and budgeting process
Understand cost behaviour more accurately
Be able to perform and interpret variance analysis
Training Methodology
This GLOMACS Financial Analysis, Planning & Controlling Budgets training seminar includes numerous practical examples and real life illustrations, and participative exercises and case studies. It will be presented in a very user-friendly way to suit individuals with varying levels of financial knowledge and experience. Our aim is for this to be an enjoyable learning experience. The training methodology combines presentations, discussions, team exercises and case studies. Delegates will gain both a theoretical and a practical knowledge of all the topics covered. The emphasis is on the practical application of the topics and as a result delegates will return to the workplace with both the ability and the confidence to apply the techniques learned.
All delegates will receive a comprehensive manual of the seminar to take back to the company, which will serve as a useful source of reference in the future. In addition, all delegates will receive a USB containing a soft copy of the manual and additional material such as Excel models used during this GLOMACS training seminar.
Organisational Impact
Recognise the importance of finance as a component of the strategic decision-making process
Appreciate the significance of the theoretical concepts underlying the use of financial tools in the strategic decision-making process
Apply the appropriate financial tools in the strategic decision-making process
Identify the impact of external factors on a company’s strategic financial plans and decision-making
Organisations should benefit from an increase in the ability of their managers to understand and analyse the key financial statements and anticipate the financial factors that form the basis of strategic decision-making, which should ultimately result in better strategic planning, and improved company performance
Personal Impact
This GLOMACS training seminar will enable delegates to:
Broaden their financial knowledge, develop and manage the financial aspects of their role more effectively, and enhance their performance
Increase their self-confidence in dealing with financial issues and financial professionals
Have a better understanding of how financial considerations help to support an organisation's strategic decisions
Better appreciate how such decisions may affect their own departments or business units, as well as their companies
Acquire the ability, when involved in decisions about investment, operations, or financing, to choose the most appropriate tools from the wide variety of financial techniques available to provide a quantitative analysis
Who Should Attend?
This GLOMACS Financial Analysis, Planning & Controlling Budgets training seminar is designed for business professionals that need or wish to understand the financial aspects of the strategic decision making process.
It is crucial for every role and at every management level in the organisation, including for example:
Sales and Marketing
Engineering
Project Management
Purchasing
Logistics
Human Resources
And is a ‘must’ for:
Interns, financial analysts, financial controllers, accountants, treasurers, corporate planning and business development professionals, and others active in the planning process
Middle and junior management as a useful element in their career advancement
All participants will be able to offer their input, based on their individual experiences, and will find this GLOMACS training seminar a useful forum for upgrading and enhancing their understanding of best corporate financial practices in the areas covered.
SEMINAR OUTLINE
Module I: Financial Analysis, Planning and 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 II: Setting and Controlling Budgets
DAY 6
Strategic and Financial Planning
Financial Accounting and Management Accounting
The Links between Strategic Planning, Budget Setting, and Performance Measurement
Planning and Strategic Management
Mission, Vision, and Objectives
The Planning Process
External Environment Analysis, Internal Resources Analysis, SWOT and PESTEL
Shareholder Wealth Maximisation, value Creation and Financial Strategy
Financial Planning and Modelling, and Long-term and Short-term Financing
Product Costs and Period Costs – product costing for inventory valuation and profit ascertainment
Direct costs, Indirect costs, Absorption Costing and Marginal costing
Product Costing for Budget Setting, Budgetary Control and Performance Measurement
Refinement of the Costing System and Activity-Based Costing (ABC)
DAY 8
The Framework for Budgeting
What is a Budget – and Why Budget?
The Budgeting Framework and the Various Types of Budgets: top down; bottom up; incremental; zero-based; activity-based
The Budget Process
Qualitative and Quantitative Techniques of Forecasting Sales and Costs, and Sales Pricing
Budgeting for Labour Costs and Depreciation
The Departmental Budget
Preparation of the Master Budget and the Cash Forecast / Budget
The Human Side and the Behavioural Aspects of Budgeting
DAY 9
Activity-Based Budgeting (ABB), Capital Budgeting, Budgetary Control and Variance Analysis
How the Budget is controlled in your Organisation
Activity-Based Budgeting (ABB)
Budgeting for Capital Projects
Discounted Cash Flow (DCF) investment appraisal methods of Net Present Value (NPV) and Internal Rate of Return
Capital rationing and the Profitability Index (PI)
Budgetary Control Systems and Responsibility Accounting
Standard Costing for Budgeting and Budgetary Control
Fixed Budgets, Flexed Budgets, Variance Analysis and the reasons for variances
DAY 10
Beyond Budgeting – Broadening Performance Measurement Systems
Integrating continuous improvement into the Budget Process
Advantages and Disadvantages of Budgeting
How to Improve the Budget Process in your organisation
The Conflict between Performance Improvement and the Costing System
Lean Thinking and Performance Improvement
What next – beyond the Budget?
The Balanced Scorecard – linking strategy with budgeting and with performance measurement
Developing and Adapting the Balanced Scorecard: financial perspective; customer perspective; internal business process perspective; learning and growth perspective
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