The Essentials of Budgeting & Business Finance

Start Date: 28 Jul 2019
End Date: 1 Aug 2019
Duration: 5
Country: Kuala Lumpur / Malaysia
Category: Finance, Accounting & Investment


The Seminar focuses on the internal view of an organization: strategic decision making, budgeting and cost control. The program will increase your understanding of the overall budgeting process and how it fits in to the strategic objectives of your organisation.

It is important that all professionals in every department understand the budget its linkage to the strategic objectives of the business and appreciate that it is a vital component of managing organizations. The budgeting process helps to create a culture of performance measurement and spread it throughout the organization in order to help the business meet its objectives.

         Setting performance indicators

         Achieving control over costs

         Maintaining good cash flow

         Making correct capital project decisions.

         Motivating staff



         Understand the importance of linking finance with the business

         Understand the purpose of budgets and their impact on the organisation.

         Appreciate the place of the budget in strategic planning

         Understand the motivational effects of budgets

         Understand how budgets are used both for planning and for control

         Understand how budgets can be used for responsibility accounting


Training Methodology

The seminar will be conducted along workshop principles with formal lectures, case studies and interactive worked examples. Relevant case studies will be provided to illustrate the application of each tool in an operations environment. Group discussions will form a major part of this seminar. Difficult mathematical concepts are minimized wherever possible and handled in a visual way that is easy to understand with examples demonstrated.


Organisational Impact

         Increase financial awareness in the organization

         The organization will be in a better position to develop useable budgets

         Those attending will be in a position to lead others in budget preparation

         Motivation will be improved

         Cost control will be improved

         Strategy & budgeting will be integrated

         Financial and non-financial key performance indicators will be identified


Personal Impact

         Delegates will feel more comfortable with terminology.

         They will understand the linkages between budgeting & costing

         The delegates will understand the control aspects of budgeting

         The delegates will appreciate the motivational aspects of budgeting

         They will understand how to discuss and communicate in budgeting terms

         Delegates will understand how to link financial and non-financial measures


Who Should Attend?

         The staff person who will be responsible for the budget system

         Those who want to gain control of the firm's financial standing and obtain a firm grasp on the numbers side of their job.

         Anyone who wants to understand the basics of budgeting

         Anyone who has the responsibility for controlling a budget and delivering performance targets





Strategy & Budgeting: Creating a "Business Finance Culture

         The difference between Managerial accounting and financial accounting

         The key financial statements

o    Income statement

o    Balance sheet

o    Cash flow forecast

         The complexity of managing contemporary organization

         Strategic Plan, Budgeting, Costing and Management Control

         Management Accounting for organizational control systems

         Responsibility accounting and the process-view

         The Budget and its role for achieving organizational targets

         What is it the situation in your organization

         Problems and Examples - Case study illustration



Issues of Budgeting

         The Budget and its role for achieving organizational targets

         The limits of the budget

         The Master budget and it schedules

         The motivational aspects of budgeting

         The linkages between budgeting and costing

         Cost classifications

         Problems and Examples - Case study illustration



Costing for Budgeting Purposes

         Cost terms and methodologies

         Inventorial vs. period costs

         Manufacturing vs. non-manufacturing costs

         Variable vs. Fixed costs (CVP analysis)

         Direct vs. indirect cost

         Under-costing and Over-costing problems

         Problems and Examples - Case study illustration



Flexible Budgets & Variance Analysis

         The budgets and performance measurement as tools for communications

         What is it the situation in your organization? How to improve it?

         The imperative of value-creation: towards value-based budgeting

         Describe the difference between a static budget and a flexible budget

         Compute flexible-budget variances and sales-volume variances

         Integrate continuous improvement into variance analysis

         Cases, problems and exercises



Balanced Scorecards: Tools To Bring Finance In The Business

         Bringing Finance in the Business by making the strategy visible

         The balanced scorecard and its four perspective

         Implementing the balanced scorecard

         Setting Objectives and KPIs

         Developing the Strategy Maps

         Develop a Balanced Scorecard for your organization

         Exercises and Case study

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