Finance & Budgeting
Aligning Budgeting with Strategy


Duration: 2 Days
Who Should Attend:
- Directors and senior managers, who are planning their next strategic steps and want to maintain a balance and link with their budgets
- Operational managers, middle managers, division heads and experienced functional managers who define and implement company or business unit objectives and influence the future direction of their team
- Finance Departments and Managers working in department related to Strategic and Planning Decisions.
What will you gain?
Upon successful completion of this course, participants will be able to:- Explore the budgeting process, key planning and forecasting techniques used to build and manage reliable budgets
- Forecasts, adjusting to reflect changing conditions and to improve performance
- Apply modern budgeting techniques and support strategic cost management
- Understand how business strategy links with activity-based management and budgets
- Focus on key strategic control areas in business and finance
- Use management tools and techniques to support strategic management.
Course Content
Formulating Strategy to Achieve Vision- Agree vision, mission, culture and values
- Key elements in strategic planning
- Role of finance in supporting strategic planning
- Departmental budgets
- Cash budgets
- Capital and operating budgets
- Master budgets
- Fixed & variable costs
- Controllable & uncontrollable costs
- How to engage the business
- Rolling Forecasts Overview
- Conducting well-structured interviews
- Designing carefully considered questionnaires
- Monitoring customer satisfaction
- Management use of Budget and Forecast Data
- Categorizing and regrouping relevant information
- Budgeting Methods
- Top-down & bottom-up budgeting
- Zero-based & activity-based budgeting
- Multiple-scenario based and flexible budgeting
- Role of risk management in corporate governance
- Finance’ role in supporting risk management
- Identify all risks, evaluate potential impact
- Incorporate strategic flexibility to respond to internal and external changes and pressures
- Prevent issues becoming risks then turning
- Prevent Failure of Strategies
- Benchmarking and Reporting
- Financial and non-financial key performance indicators (KPIs)
- Milestone monitoring
- Costing techniques and margin management
- Resource allocation and balancing priorities
- Creating systems to monitor effectiveness of implementation.
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