Budgets are an essential financial tool, which aid, planning, decision making, resource allocation, coordination, and control. Without the necessary skills Budgets can be badly prepared and/or implemented leading to poor decisions, mid-use of vital resources, poor coordination, and a lack of control or even too much control resulting in missed opportunities.
Develop the skills to Plan Budgets within a sound Strategic Plan
Become aware of the problems/limitations of budgets and the conditions required for their success
Integrate the budgeting process with the development of the company’s long-term strategic vision
Identify key performance indicators for effective and focused decision making
Perform “What If” and Sensitivity Analysis to evaluate the implications of changes in major factors of production and consumption
Recommend various courses of action to manage the implications of “What If” and Sensitivity Analysis.
Implement advanced planning and control techniques
Develop the skills to effectively Manage & Control the budgeting process
Financial Managers
Financial Planning and Control Staff
Executives with Financial Responsibilities
Executives who are responsible for the cost and strategic analysis
Project Managers
Employees who want to gain new knowledge to improve their career
Strategic Planning, Forecasting, Budgeting, and Costing – Defined
The inter-relationship of Strategic Planning, Forecasting, Budgets and Costing
The Benefits & Limitations of Budgets and the Essential Features & Conditions Required
An Evaluation of Various Types of Budgets:
Fixed
Variable
Zero Based
Activity-Based
Capital Budget
The Essential Features of Activity-Based Budgeting
Developing the ABB application model
Budgeting for Processes rather than Departments
Defining Key Cost Drivers
Defining Key Activities
Development of ABB Cost Standards
Developing the Activity-Based Budget
Preparing The Master Budget using Excel
Sales Budgets
Production Budgets
Cash Budgets
Capital Budgets
The Master Budget
Determine the Purpose or Objective of Forecasting
Methods of Forecasting using Qualitative and Quantitative/Statistical Analysis
including the Exploratory Data Analysis Tools Available in Excel
Their Use & Limitations
Recognizing the Basic Patterns Inherent in Historical Data
Time Series Analysis
Exponential Smoothing
Correlation and Regression Analysis
Presenting initial forecasts to decision-makers
Forecasting future Market/Sector developments using Qualitative Analysis – SWOT Analysis and LEPESTE & Co Analysis
Implementing Forecasts into the Budget
Considering Hedging Strategies where variables such as Exchange Rates and Interest Rates cannot be forecast accurately
Forwards, FRA’s, Futures, Options, and Swaps
Preparing the Sales Budget
Determining the price, credit policy, discount policy, and currency
Preparing the Production Budget
Preparing the Cash Budget
Make finance and investment decisions
Preparing Capital Budgets
Use Excel to evaluate various Capital Projects using Present
Value, Future Value, Net Present Value, Internal Rate of Return, Modified Internal Rate of Return and Discounted Payback models
An Introduction to “What If” and Sensitivity Analysis to evaluate the implications of changes in major factors of production and make strategic decisions
Implementing Budgets Successfully
The Conditions Required
The Management Skills Required
Break-Even Analysis, Cost Behaviour, and Sensitivity Analysis
Identifying Fixed, Variable, and Semi-variable costs
Identification of the level of sales/profit to break even
Identification of critical costs
Determining resources requirements
What if Analysis using Excel and leading software
Performing “What If” and Sensitivity Analysis to evaluate the implications of changes in major factors of production and consumption on the Cash Budget and Profit & Loss Account
Identification of key performance indicators for effective and focused decision making
Recommend various courses of action to manage the implications of “What If” and Sensitivity Analysis.
Developing Budget Re-Projection and Best Case / Worst Case Scenario Models
Planning for contingencies
Developing various scenarios
Using the Scenario tool in Excel® to explore the variable sets of assumptions while tracking the impact on the base model.
Building the financial simulation model using probabilistic (Monte Carlo) simulation
Building the financial simulation model using deterministic simulation
Accounting Systems, Accountability and Responsibility Systems
Essential Elements of a Costing System
Establishing and Implementing a Costing System
Undertaking Variance Analysis and Presenting a Variance Report to decision-makers
Evaluation of the results
Making Strategic Decisions based on the Variance Report/Business Planning
The world is packed with information; and most organizations struggle to recognize what information they have, why they need it, how long they need it for, and if it has any value. Furthermore, changes in the law, such as the recent changes in the UAE employment law, often call for tighter controls on contract documentation, and lead to a need for enhanced management of human resource and contract records. In addition, electronic information is under threat from cyber-attack and personal information is at risk of exposure. As such, the development and implementation of a records management program that includes document control methods to identify, secure, and protect critical information, is necessary for every organization.
This course is designed for participants to introduce to key issues and themes in international development.
Participants will explore and engage in academic debates and discussions around a set of key factors that shape, influence, and constrain the development and prosperity of nations.
The course will explore a number of key themes in international development, including how questions of gender and generation shape the impact of poverty; how processes of globalization, migration, and violent conflict impact development; and how development and the environment are linked.
It also considers what exactly we mean by poverty, and how different ways of understanding poverty feed into different approaches to tackling it.
It will also consider development institutions: what are the key institutions in the architecture of international development? How do they differ, and what are the challenges and opportunities they present? Through this module, participants will gain a solid background in the various factors which shape current approaches to and debates on international development.
By introducing participants to a range of problems in economic development, we will look to analyze how economic theory and models can explain the lack of development in some nations. We will apply such theory to real-world economies to understand the nature of the problems they face and how effective policies can be in tackling the problems.
Self-mastery is not achieved by accident - it is a process that occurs as we interact effectively with the events and circumstances of our lives. Each moment of our lives provides an opportunity to practice self-mastery by expanding our visions, awakening the faculties of our minds and our hearts, and assuming full responsibility for living, growing, and contributing. As we master our own emotions, we can enhance our ability to lead others, acting as a role model and someone others would truly wish to follow. Through this program, you will learn a great deal about yourself – how you think, how you perceive the world and how others perceive you, how you communicate and how you can enrich your communication skills - and through that process, you will learn how to lead others with great skill.
Great achievers have always performed well by managing themselves and their capabilities. Self-management is critical for individuals to perform efficiently in both large and small businesses where they are called to perform various duties. Self-management inspires individuals to set their own goals, monitor their behavior in achieving those goals and reward themselves upon their success in achieving those goals. Self-management is the building block for effective management of other people, groups, and organizations. This highly participative seminar will help you to develop your leadership skills to lead others in times of crisis, pressure and stress. You will obtain the latest insights into what makes a leader able to manage themselves and others during times of crisis. Self-mastery is not achieved by accident - it is a process that occurs as we interact effectively with the events and circumstances of our lives. Each moment of our lives provides an opportunity to practice self-mastery by expanding our visions, awakening the faculties of our minds and our hearts, and assuming full responsibility for living, growing, and contributing. As we master our own emotions, we can enhance our ability to lead others, acting as a role model and someone others would truly wish to follow.
Implementing an anti-bribery management system (ABMS) based on ISO 37001 has a number of advantages, including helping the organization avoid or reduce the costs, risks, and damage of being involved in bribery, fostering trust and confidence, encouraging due diligence and morally righteous business practices, etc. You must have the knowledge and abilities necessary to establish, implement, manage, maintain, and continuously enhance an ABMS in order to reap these benefits for your firm. The ISO 37001 Lead Implementer training course is where you should be for that. The training program aims to give participants a thorough understanding of ISO 37001 requirements as well as the best methods and techniques for setting up and maintaining the management system.
Through risk management, decision-making, and performance improvement utilizing ISO 31000 criteria, participants in the ISO 31000 Lead Risk Manager training course may help a company create and protect value by developing their competencies in these areas. It offers details on the fundamental components, the efficient use of a risk management framework, the use of the risk management process, and the steps required for the proper integration of these components to achieve corporate goals. Additionally, it offers recommendations for the choice and use of methods for evaluating risks in a variety of circumstances.