• Successfully build an integrated planning, budgeting and reporting process
• Understand costs behavior more accurately
• Deliver more timely and useful information to decision-makers
• Understand capital budgeting
• Identify & manage key financial indicators for the business
• Be able to use specific cost analysis and performance measurement techniques
• Be able to understand and implement the Balanced Scorecards
• Be able to interpret the financial impact of strategic directions
• Understand the problems of overheads allocation and how Activity-Based Analysis may aid decision-making and pricing strategies
• Select the performance measurement systems that work
• Think proactively beyond budgeting

CONTENT:

Budgeting & Cost Control in the public sector:  with Strategic Planning

• Budgeting and the Management System of Contemporary Organizations
• Strategic Planning, Budgeting and Management Control
• Strategic Management Accounting – setting goal and objectives
• From Strategic to Operating Plans – actions and initiatives
• Measuring and Managing the Performance – KPIs and targets
• Managerial Accountability  

Budgeting: Principles and Key Concepts

• Understanding the Context for Budgeting
• The Benefit of Budgeting and its Role for Achieving Organizational Targets
• Principles of Budgeting
• Main Issues with Budget Preparation

Cost Analysis for Budgetary Purposes

• Cost Concepts and Terminology
• Different Costs for Different Purposes
• Fixed vs. Variable Costs: The Cost-Volume-Profit Analysis Model
• Contribution Margin Analysis

Traditional vs. Advanced Techniques in Cost-Control

• Under-costing and Over-costing: Understand Allocation Methods
• How to refine a Costing system?
• Traditional Cost Allocations Systems vs. Activity-Based Costing (ABC)
• Cost Hierarchy & Cost Drivers - Linking Resources, Activities and Management
• Introducing Activity-Based Budgeting (ABB) and Management (ABM)

New Integrated Performance Measurement Systems

• Beyond Budgeting: Integrating Financial and Pre-financial Information
• The Drivers of Value Creation
• The Balanced Scorecard
• Integrated Reporting
• Connectivity Strategic Goals, Objectives, Actions and Results

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

This course is available in the following locations:

Nigeria - $3000
Ghana - $6000
Rwanda - $7000
UK - $8000
USA - $8000