Budgeting and financial management are at the core of economic and public sector reform programs in most nations around the world. With the growing pressures for enhanced service delivery and the challenges of budgetary crises and fiscal shocks, the need for improved budget processes and innovative financial management techniques is especially critical in developing and emerging economies. The two-week BUDGET program is designed to give you the skills you need to reform budget systems and contribute to strengthening public financial management around the world.
The programme is designed for those with little or no knowledge of accounting in decision-making positions within their organizations, to gain or improve their understanding and use of financial information. This course will help you master the financial language of business and discover how to make decisions that lead to financial success for your department and your organization. Financial data is the universal language of business. Quarterly results, cost drivers, cash flow, liquid assets, net profits—these are terms that reveal key issues facing your company. Learn what these concepts really mean and how you can use them to persuade your colleagues and better understand your competitors’ operations.
If companies intend to succeeded within today’s turbulent markets their Business Plans must be look at carefully and constantly integrated with Budgeting, Forecasting and Cost Analysis This finance & accounting training course will provide not only the theoretical background but also the necessary skills to build world class standards into your planning, budgeting, performance measurement and reporting system. The training course will concentrate on imparting to delegates how to learn the concepts, processes, and techniques of budgeting and business planning in order to be better able to carry out their budgeting and business planning tasks and responsibilities. By combining techniques analysis, problems and examples with real case studies the training course provides delegates with key cost awareness and budgetary skills, which is essential in managing and controlling processes/projects in times of increasing global competition where the budgets are inextricably linked with both strategy formulation and cost analysis.
Good financial management should ensure that staff in charge of delegated budgets, both for administration costs and programme expenditure, have clear guidance on the size of the budgets, what they may be used for and how far they can be varied. For many managers, the company’s financial statements remain a mystery. However, as these managers move into increasingly higher positions, discussions regarding financial performance become more regular. A basic understanding of both financial statements and project evaluation tools is a necessity in order to make rational decisions and contribute to discussions intelligently.
Internal Controls are an interesting topic in the corporate environment. They are part of the Governance, Risk and Compliance (GRC) system which relies on these controls to make sure that risks are under check. This course starts with an introduction to corporate governance and Enterprise Risk Management (ERM) and goes into the details of risk responses available to management. The course then tackles controls at board and senior management level and into the business and reporting cycles. We also covers controls in the purchase and payment cycle, HR and payroll cycle, inventory and production cycle, long term assets life cycle and at last sales and collection cycle. In addition, the course discusses, information systems control, administrative and safety controls, financial reporting controls, physical controls and at last external reporting controls. Of course, they are all listed as examples and participants are encouraged to share with management the proper measures and controls for the risks at hand.