Setting & Controlling Budgets properly and accurately is fundamental to every successful business. This seminar shows how budgeting is linked to strategy, costing, and performance measurement. The purpose of the seminar is to clarify the jargon and methodology of budgeting within the areas of managerial accounting and performance measurement.
At the end of this conference the participants will be able to:
Link finance and operation for budgeting purposes and strategy execution
Learn how to build a comprehensive performance measurement system
Develop an understanding of the corporate budgeting process
Interpret the financial impact of strategic directions
Understand the problems of overheads allocation and how Activity-Based Analysis may aid decision-making and pricing strategies
Understand the budgeting methods most useful to them
Understand how to construct a relevant and efficient budget
Evaluate the usefulness of costing techniques in accurately calculating and ensuring profitability
Reinforce and expand their knowledge by linking budgeting to strategy and performance measurement
Expand their understanding by linking financial and operational issues
Learn to be aware of non-financial implications of budgeting
General Management
Estimating and Costing Control
Project Management
Asset Management
Financial VS managerial accounting
Exploring the linkages between strategy, budgeting, costing, and performance measurement
Understanding what strategic planning is and why it is important
Mission; Vision; Strategy; Goals and Objectives
The outside environment and the internal context: SWOT and PESTEL analysis
What is happening in your company
Looking for the drivers of value creation
What is a budget - why create a budget?
The budgeting framework
Various types of budgets
The budgeting process and the human side of budgeting
Sales forecasting and budgeting schedules
What is the budgeting process in your company?
Top-down VS bottom-up budget
Incremental VS zero-based
Examples of budgetary schedules
What is costing? Defining costs
Cost behavior – Fixed and variable
Breakeven models - The Equation Method
The contribution margin concept
Direct and indirect costs
Traditional VS Activity Based Costing
Product VS period costs
What is the situation in your organization?
Is budgeting organized by department and/or projects?
Budget variance analysis
Describe the difference between a static budget and a flexible budget
Compute flexible-budget variances and sales-volume variances
Explain why standard costs are often used in variance analysis
Integrate continuous improvement into variance analysis
Advantages and disadvantages of budgeting
How to improve budgeting in your organization
What next? Beyond the Budget…
The Balanced Scorecard: linking Strategy to budgeting to Performance Measurement
Financial perspective, Customer perspective
Internal Business Process perspective, Learning and growth perspective
Corporate social responsibility (CSR) is a management concept whereby companies integrate social and environmental concerns into their business operations and interactions with their stakeholders. CSR has been considered an efficient marketing tool for gaining the competitive advantages a company needs in order to be on top in the context of the current hyper-competitive environment.
You will learn vital skills for managing and creating content in this course. To help you establish a social media presence, you'll learn how to craft compelling social media posts and how to develop a powerful brand. Additionally, you'll discover how to create an ongoing procedure for handling your content. A content calendar should be created, postings should be managed and moderated, data should be analyzed for insights and iteration, and post effectiveness should be increased.
Are you under pressure from an ever-growing task list, conflicting demands and constantly changing priorities? Productive working practices are valuable skills in today’s work environment. Competition is intense and companies need people who can organize their time effectively, collaborate with others to achieve goals, and who constantly strive to better meet customer and stakeholder needs.
This popular course will support you to develop practices and techniques to manage this pressure proactively, allowing you to meet deadlines and deliver against your objectives. You will also develop skills in working well with others to ensure success.
The 5-Day Mini MBA is a unique distillation of the skills that need to be acquired in order to be considered successful in modern business. Not everyone is able to devote a year or two of their time to studying for a Masters in Business Administration, but in an age of rapid change in a highly competitive environment, it is crucial to have a thorough understanding of the issues involved in the smooth and successful running of a business. The 5 Day Mini MBA Leadership & Management Masterclass is a highly intensive training course covering all the usual subjects associated with an MBA. In 5 days, a delegate will learn what normally takes a year of full-time study. The Mini MBA course is designed to provide delegates with comprehensive knowledge of fundamental, proven strategies taught as both an academic and practical exercise. As a result, the course will provide a comprehensive understanding of the skills and knowledge that will be required for any person to further develop their business knowledge and skills and even to prepare them for actual formal study for an MBA. The course is designed to be delivered either as an “In House” class for an organization’s directors and senior management or as a public class where delegates from a number of companies can learn both from the course and from one another and exchange ideas and best practice.
Large capital-intensive projects in the oil and gas industries require substantial - and mostly risky - investments in the acquisition, exploration, and subsequent operation and maintenance of new organizational assets.
The decision of whether or not to invest in new capital projects in the oil and gas industry starts with critical decisions during the exploration phase of new development or the expansion of an existing field. The decision-making tools used to analyze project risk under conditions of uncertainty will help companies to determine the probability of success or loss and will drive the decision to develop or abandon the well.
Crisis management is concerned with responding to, managing, and recovering from an unforeseen event. Risk management is concerned with identifying, assessing, and mitigating any activity or event that could cause harm to the business. Risks can be strategic or operational in nature. A business continuity plan (BCP) is a process that outlines the potential impact of disaster situations on business operations. It creates policies that respond to various situations to ensure a business is able to recover quickly after a crisis.