budgeting Planning & Management Reporting

Day 1: Planning for Success

• Understanding planning strategies

• Strategy analysis, choice, and implementation

• The role of strategy maps in defining business direction

• Effective vs. ineffective management reporting practices

• The agency problem and principles of corporate governance

• Planning requirements and the strategic importance of working capital

Day 2: Forecasting in Budgeting and Planning

• Defining the purpose and objectives of forecasting

• Applying statistical analytical tools in forecasting

• Quantitative methods for forecasting

• Forecasting techniques and best practices

• Addressing agency problems in forecasting: practical solutions

• Causal analysis through regression models

• Using Excel® to analyse and interpret historical data

Day 3: Budgets, Costs, and Budgetary Control

• Why do we budget? – Objectives and strategic purposes

• Planning and control in the budgeting framework

• Building and integrating the budget

• Understanding cost behaviour and classification

• Cost/Volume/Profit (CVP) analysis and “what-if” scenarios

• Standard costing and its role in control

• Flexed budgets for adaptive planning

• Variance analysis: causes, implications, and solutions

Day 4: Activity-Based Costing (ABC) and Activity-Based Budgeting (ABB)

• Fundamentals of Activity-Based Costing (ABC)

• Refinement and development of costing systems

• ABC as a tool for cost management

• Designing and implementing ABC systems

• The cost hierarchy and identification of cost drivers

• Advantages and limitations of ABC systems

• Transitioning from traditional budgeting to Activity-Based Budgeting (ABB)

• The ABB process and its applications

• Time-based ABC for service organizations

• Motivation and behavioural dimensions of budgeting

Day 5: Measuring Corporate Performance

• Building an effective performance measurement system

• Broadening performance measures: beyond financial indicators

• Driving shareholder value through Economic Value Added (EVA®)

• Beyond budgeting: integrating financial and non-financial perspectives

• The Balanced Scorecard: framework, perspectives, and implementation

• Developing Key Performance Indicators (KPIs) for strategic alignment