Financial Analysis, Planning &
Controlling Budgets

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
• Master the skills of budgetary and cost control

The seminar is split into two modules:

MODULE I - Financial Analysis, Planning & Control

MODULE II - Setting & Controlling Budgets

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.

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

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.

• 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

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

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.

Module I: Financial Analysis, Planning and Control

DAY 1

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

DAY 7

Cost Analysis for Budgeting  

• What is Costing?
• Cost Behaviour – fixed costs and variable costs
• Contribution, Cost / Volume / Profit (CVP) Analysis and break-even models
• Traceable Costs and Non-traceable Cost Allocation
• 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

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.

© 2023. Material published by GLOMACS shown here is copyrighted.
All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

P.O. Box 74653, Dubai, United Arab Emirates
Tel : +971 - 04 - 425 0700, Fax : +971 (04) 425 0701, Email : info@glomacs.com