Planning, budgeting and cost control are critical processes for the effective management of modern corporations. Once companies’ Mission, Vision, Goals and Objectives have been identified planning, budgeting and cost control became essential components of strategy execution. This seminar is designed to enable delegates to understand the connections that operate within the management system and explore the key concepts, tools and practices. Significantly, the linkages between the financial and operational sides of the business are also likely to have an impact on the management of risks and measurement of performances.

Major highlights of the seminar include:

• Understanding the management systems, as well as the financial and operating plan
• Develop proper system of cost analysis for budgeting purposes
• Master the budgeting and financial skills required for better decision-making
• Identify sources of financial and operational data to support the budgeting process
• Learn new best practices to integrated financial and non-financial performance measurement

This seminar will enable delegates to:

• Develop a solid understanding of the company’s management system
• Understand the connections between planning, budgeting and costing
• Learn costing and budgeting terminology used in business
• Master traditional techniques and recent best practices
• Link finance and operation for budgeting purposes and strategy execution
• Learn how to build a comprehensive performance measurement system
• Evaluate the various methods for capital budgeting
• Measure and manage performance effectively

This seminar is presented in a very user-friendly way to suit individuals with varying levels of financial knowledge and experience. The seminar will be conducted along workshop principles with formal presentations, case studies and interactive worked examples. The seminar combines theory and practice. The purpose is to use a mix of proven learning techniques to ensure maximum understanding, comprehension and retention of the information presented.

• Planning, budgeting and costing awareness will be enhanced
• Broadened knowledge of risk and performance management techniques
• Better attitude to link cost and budgeting to strategy and performance measurement
• Deeper understanding of cause and effect relationship for the planning and budgeting purposes
• Better awareness of the connection between finance and operations
• Delegates will develop a set of transferable skills which will improve their powers of financial planning helping the company to increase profit, improve cash flow whilst minimizing costs and risk
• The new skills will help them to make more informed and hence better management decisions.
• Delegates will become more aware of the importance of effective planning, budgeting and forecasting making the capital budgeting process more cost effective
• The use of practical case studies and illustrations of real companies will help delegates understand how to apply different planning, forecasting and analysis techniques in a work situation.
• The knowledge gained can be shared amongst other departments of the company to improve the financial culture of the entire organization.

As delegates, you will:

• Develop an understanding of the company’s management system and its links with planning, budgeting and costing
• Be able to make more informed decision and hence better planning, budgeting and costing
• Make improved capital budgeting decisions
• Be better placed to liaise effectively with other departments on matters of finance and budgeting
• Learning to evaluate the usefulness of the different costing techniques in accurately calculating and ensuring profitability
• Reinforce your leadership and expand your knowledge by linking budgeting to strategy and performance measurement
• Broaden your understanding of the business by linking financial and operational issues

This seminar is suitable for:

• Non-financial and financial personnel
• Managers and those with financial responsibilities
• Decision makers, whose understanding and skills will improve through attendance
• Professionals acting upon the financial decisions of others, who will gain an appreciation for decision making
• Any professional, irrespective of the organizational position, willing to improve awareness on planning, budgeting and cost control