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Budget Preparation Course

INTRODUCTION

This IRES Budget Preparation Skills is a comprehensive training seminar that focuses on the essential skills required to understand the processes of costing and budgeting within organizations.

This IRES training seminar is designed to address all the relevant issues concerning cost analysis, budget preparation and performance measurement. This Budget Preparation Skills training seminar is a must for all professionals who need to master their budgeting skills by learning how costs behave so that realistic business plans can be produced. 

DURATION

5 Days

WHO SHOULD ATTEND?

  • The Staff Person who will be responsible for entering data into the Budget System or training others how to enter information
  • Those who want to gain Control of the Firm's Financial Standing and obtain a firm grasp on the numbers side of their job
  • Financial Professionals, R&D Professionals, Sales / Marketing Professionals, General Accounting Professionals, Business Unit Professionals
  • Anyone who wants to understand the Basics of Budgeting and Costing

COURSE OBJECTIVES

At the end of this IRES training seminar, you will learn to:

  • Learn Costing and Budgeting Terminology used in Business
  • Understand the Importance of a Well-Defined Costing and Budgeting Process
  • Determine Full Costs of Outputs for the Goods and Services provided
  • Master traditional Techniques and recent Best Practices
  • Link Finance and Operation for Budgeting Purposes and Strategy Execution
  • Learn How to Build a Comprehensive Performance Measurement System

TOPICS TO BE COVERED

Module 1; Budgeting and Its Role within the Management Process

  • The Role of Budgeting within Management Accounting
  • Linking Costing and Budgeting to Strategy and Performance Measurement
  • The Process of Value Creation: Implications for Budgeting
  • What is a Budget and Why Costing is Fundamental?
  • Budgets - The Financial Expression of the Operating Plan
  • Linking Financial and Operational Issues
  • Behavioural Implications of Budgeting
  • Case Discussion and Examples

Module 2; Costs Analysis for Budgetary Purposes

  • Costing for Budgeting: Why?
  • Cost Terms and Purposes
  • Fixed and Variable Costs
  • Cost, Volume, Profit (CVP) Relationships
  • The Key Concept of Contribution Margin
  • Direct and Indirect Cost – The Allocation Problem
  • Traditional Methods vs. Activity Based Costing (ABC)
  • Case Discussion and Examples

Module 3; the Framework for Budgeting

  • Elements of the Budgeting Framework
  • Key Concepts and Terminology
  • Advantages and Disadvantages: Critical Issues to be Discussed
  • Overview of the Financial Statements
  • Balance Sheet, Income Statement, and the Statement of Cash Flows
  • Introducing Cost Analysis for Decision-Making
  • The Importance of Understanding Full Costs
  • Case Discussion and Examples

Module 4;Flexed Budgets and Variance Analysis

  • Budgeting for Management Control Purposes
  • Explain Why Standard Costs are used in Variance Analysis
  • Describe the difference between a Fixed Budget and a Flexed Budget
  • Compute Flexed Budget Variances and Sales Volume Variances
  • How to Interpret Variance Analysis?
  • Integrate continuous improvement into Variance Analysis
  • Is Budgeting Enough?
  • Case Discussion and Examples

Module 5; Beyond Budgeting: Broadening Performance Measurement Systems

  • Shortcomings of Traditional approaches to Budgeting and Measurement
  • Linking Financial to Operational Issues
  • Linking Strategy to Performance Measurement
  • The Balanced Scorecard and Six Sigma
  • Financial Perspective
  • Customer Perspective
  • Internal Business Process Perspective
  • Learning and Growth Perspective
  • Developing and Adapting the Scorecard
  • Case Discussion and Examples

METHODOLOGY

The instructor led trainings are delivered using a blended learning approach and comprise of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

All facilitation and course materials will be offered in English. The participants should be reasonably proficient in English.

ACCREDITATION

Upon successful completion of this training, participants will be issued with an Indepth Research Services (IRES) certificate.

TRAINING VENUE

The training is residential and will be held at IRES training Centre. The course fee covers the course tuition, training materials, two break refreshments, lunch, and study visits.

All participants will additionally cater for their, travel expenses, visa application, insurance, and other personal expenses.

ACCOMMODATION

Accommodation is arranged upon request. For reservations contact the Training Officer.

Email:  This email address is being protected from spambots. You need JavaScript enabled to view it.   

Mob: +254 715 077 817

Tel: 020 211 3814

TAILOR- MADE

This training can also be customized for your institution upon request to a minimum of 4 participants. You can have it delivered in our training centre or at a convenient location.

For further inquiries, please contact us on Tel: +254715077817, +254(020) 211 3814 or mail This email address is being protected from spambots. You need JavaScript enabled to view it.

PAYMENT

Payment should be transferred to IRES account through bank on or before C.O.B. 30th September 2019.

Send proof of payment to This email address is being protected from spambots. You need JavaScript enabled to view it.

CANCELLATION POLICY

Payment for all courses includes a registration fee, which is non-refundable and equals 15% of the total sum of the course fee.

1.    Participants may cancel attendance 14 days or more prior to the training commencement date.

2.    No refunds will be made 14 days or less to the training commencement date. However, participants who are unable to attend may opt to attend a similar training at a later date, or send a substitute participant provided the participation criteria have been met.

Please Note: The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

Event Properties

Event Duration 5 Days
Event Date 07-10-2019
Event End Date 11-10-2019
Cut off date 30-09-2019
Individual Price(Kenyan) KES 69,000
Individual Price (International) EUR 790
Individual Price(International in Dollars) USD 920
Location Nairobi, Kenya
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