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Finance and Accounting Seminars
Advanced Budgeting Workshop
REF: F12393 DATES: 13 - 17 Oct 2019 VENUE: Paris (France) FEE: 4500 €
Overview:
Budgets are an essential financial tool, which aid, planning, decision making, resource allocation, co-ordination and control.
Without the necessary skills Budgets can be badly prepared and/or implemented leading to poor decisions, mid-use of vital resources, poor co-ordination and a lack of control or even too much control resulting in missed opportunities.
The Benefits:
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You will be able to further your professional skills.
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You will be able to make more informed and hence better planning, budgeting and forecasting decisions using various models and software.
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You will make improved budgeting decisions which will increase your importance to your organization
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You will be better placed to liaise effectively with other departments on planning, forecasting & budgeting matters.
Target Competencies:
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Budgeting.
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Building models in Microsoft Excel.
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Forecasting.
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Evaluating proposals.
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Applying Microsoft Excel functions and tools.
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Assessing budgeting process.
The Programme Content:
Budgeting and planning:
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The budget and the functions of management.
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Budget as a planning tool.
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Budgets and the key financial statements.
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The top-down versus bottom-up process.
Budget cycle, process and approaches:
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The budget cycle.
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Characteristics of successful budgeting.
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Making the budget a value-adding activity.
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Top ten problems with budgeting.
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The master budget and its components.
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Operating and capital budgets.
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Best practices in budgeting.
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Creating a user friendly budget template.
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Choosing the proper budgeting approach:
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Incremental budgeting.
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Zero-based budgeting.
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Flexible budgeting.
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Kaizen budgeting.
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Activity based budgeting.
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Rolling (continuous) budgets and forecasts.
Variance Analysis, Reporting, Control and Decision Making:
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Accounting Systems, Accountability and Responsibility Systems.
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Essential Elements of a Costing System.
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Establishing and Implementing a Costing System.
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Undertaking Variance Analysis and Presenting a Variance Report to decision makers.
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Evaluation of the results.
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Making Strategic Decisions based on the Variance Report/Business Planning.
Forecasting techniques:
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Forecasting models.
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Qualitative and quantitative methods.
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Steps in developing forecasting models.
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Time series and trend analysis.
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Data conditioning techniques.
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Exponential smoothing and moving averages.
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Simple and multiple regression analysis.
Advanced capital budgeting evaluation techniques:
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Business risk and cost of capital.
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Classifying investment projects.
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Cash flow estimation.
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Analyzing investment and operating cash flows.
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The time value of money concept.
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The required rate of return.
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Net Present Value (NPV).
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Internal Rate of Return (IRR).
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Multiple internal rates of return.
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Modified Internal Rate of Return (MIRR).
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Profitability Index (PI).
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Payback period and discounted payback period.
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Capital rationing.
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Comparing and evaluating techniques.
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Sensitivity and risk analysis.
Breakeven analysis and optimization techniques:
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Cost Volume Profit (CVP) analysis.
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Using CVP to reach a target income.
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Single product and multiple products break-even analysis.
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Working with budget constraints.
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Building optimization mode.
COURSE DATES13 - 17 Oct 2019
COURSE REFF12393
VENUE Paris (France)
COURSE FEE 4500 €