By the end of this course, delegates will be able to:

• Understand the importance of linking finance with the business
• Understand the purpose of budgets and their impact on the organization.
• Appreciate the place of the budget in strategic planning
• Understand the motivational effects of budgets
• Understand how budgets are used both for planning and for control
• Understand how budgets can be used for responsibility accounting
• Understand the control aspects of budgeting
• Discuss and communicate in budgeting terms
• Understand how to link financial and non-financial measures

Strategy & Budgeting: Creating a “Business Finance” Culture:

• The difference between managerial accounting and financial accounting
• The key financial statements
• Income statement
• Balance sheet
• Cash flow forecast
• The complexity of managing contemporary organization
• Strategic Plan, Budgeting, Costing and Management Control
• Management Accounting for organizational control systems
• Responsibility accounting and the process-view
• The Budget and its role for achieving organizational targets
• What is it the situation in your organization

Issues of Budgeting:

• The Budget and its role for achieving organizational targets
• The limits of the budget
• The Master budget and it schedules
• The motivational aspects of budgeting
• The linkages between budgeting and costing
• Cost classifications

Costing for Budgeting Purposes:

• Cost terms and methodologies
• Inventorial vs. period costs
• Manufacturing vs. non-manufacturing costs
• Variable vs. Fixed costs (CVP analysis)
• Direct vs. indirect cost
• Under-costing and Over-costing problems

Flexible Budgets & Variance Analysis:

• The budgets and performance measurement as tools for communications
• What is the situation in your organization? How to improve it?
• The imperative of value-creation: towards value-based budgeting
• Describe the difference between a static budget and a flexible budget
• Compute flexible-budget variances and sales-volume variances
• Integrate continuous improvement into variance analysis

Balanced Scorecards: Tools To Bring Finance In The Business:

• Bridging Finance in the Business by making the strategy visible
• The balanced scorecard and its four perspective
• Implementing the balanced scorecard
• Setting Objectives and KPIs
• Developing the Strategy Maps
• Develop a Balanced Scorecard for your organization

• The Staff Persons who will be responsible for the budget system
• Those who want to gain control of the firm's financial standing and obtain a firm grasp on the numbers side of their job.
• Anyone who wants to understand the basics of budgeting and business finance
• Also, this course is suitable for all professionals among all departments and managerial levels