Advanced Financial Planning & Budgeting 2 y interactive ...ftinstitute.co.za/docs/finplan.pdf ·...
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Planning & Budgeting Advanced Financial INTRODUCTION Today's companies are more competitive and dynamic than ever before. As a result, the days when corporate financial planning and budgeting was merely a routine process of estimating the coming year's revenues and expenses have long ended. Successful companies are constantly improving their ability to predict their future operations and their related resource requirements, enabling them to adjust their plans as needed and stay ahead of the competition. Not only does this heighten the importance of the planning and budgeting process, but it also changes the traditional roles of spreadsheets, systems, and software that are created in-house. WORKSHOP OVERVIEW This program takes those who have financial planning and budgeting experience and "raises-the-bar". It demonstrates the latest tools in forecasting and budgeting and then shows how to apply each one. We will walk through models of forecasting methods and then bring them together in practical application case studies and exercises so that you will be ready to use them in your company. 4 WHO SHOULD ATTEND? 4 Financial Managers 4 Accountants 4 Chief Financial Managers 4 Cost Accountants 4 Management Accountants 4 Corporate Finance Specialists 4 Internal Auditors 4 Financial Controllers 4 Treasurers WHAT WILL YOU LEARN? This program you will teach you how to: 4 Achieve and maintain the edge through modern financial planning and budgeting systems and the use of good software. 4 Equip your corporation to excel in the twenty-first century with the tools and information offered in this invaluable program. 4 Use the most advanced budgeting tools (the function of chief financial officers). 4 Go beyond the traditional budgeting tools (treasurers). 4 Go beyond budgeting limitations (controllers). 4 Improve the accuracy of their financial plans and budget (senior managers). Participants attending the program will: 4 Understand the principles underlining Financial Planning by understanding the cutting edge methods used to optimize the results of the financial planning and budgeting process. 4 Create the best budget for maximum performance. 4 Gain confidence in using Excel in developing models for financial forecasts, plans and budgets. 4 Gain confidence in using advanced models to improve the accuracy of your inputs for financial forecasts, plans and budgets. 4 Understand Risk Assessment and Management in the budget process and what to do about it. 4 Successfully administer and implement a new budgeting solution. 4 Be able to monitor and evaluate Prof Jaco Fouché Jaco Fouché is professor and programme leader for Chartered Accountants' (CA (SA)) training at the Potchefstroom Campus of the North-West University (NWU). He holds the CA (SA) designation, a master's degree in financial management and a PhD in accountancy education and has more than a decade of teaching experience at various levels of complexity. In this time he has received various outstanding educator and presenter awards, including an award for the best lecturer in the faculty of Economic and Managements Sciences and the KPMG best presenter award at a SAAA national conference. He was responsible for the financial management module at honours level (CTA) for the CA- programme for 8 years and is currently still involved in teaching financial accounting and financial management. He frequently presents short courses, of which the latest are on continuous professional development (CPD) in the accountancy profession, the basics of accounting as well as corporate and personal financial management. This versatile and creative educator is also author and co-author of various publications and reviewer for various accredited journals. He is enrolled for the Chartered Financial Analyst (CFA) programme. Jaco Barnard Jaco Barnard is senior lecturer and programme leader for Managerial Accounting (CIMA) training at the Potchefstroom Campus of the North-West University (NWU). Jaco holds the Chartered Accountant (CA (SA)) designation, is a Chartered Institute of Management Accountants (CIMA) passed finalist and also obtained a B Com Honours in Accounting (CTA). During his studies, he received various academic achievement awards, including the best B Com Accounting student over three years. Since joining the NWU in 2004, Jaco lectured at various levels of complexity in the subject fields of accounting and managerial accounting. Since his involvement at the university he has received various educator awards, including the award for the best lecturer in the Economic and Management Sciences faculty in 2006. He is currently responsible for the managerial accounting module at honours level for chartered accounting students. Jaco is actively involved in continuous professional development training and short courses in the accounting profession for various practitioners and other corporate clients. He is enrolled for his Masters degree in performance management. ABOUT YOUR PROGRAMME DIRECTORS implemented budgets. TEACHING METHODOLOGY Groups are small and most of the time two facilitators are present for individual attention. Delegates are requested to bring their own personal laptop computers to the course with a full installation of Excel® including the complete “Toolbox”. The training comprises teaching sessions covering each topic with demonstrations of the applications on the topics. Delegates then use the templates prepared in advance to apply the knowledge gained on each section to short case studies, using Excel®. A limited number of laptops are also available for rent during the workshop. A day interactive workshop - Demonstrated with Excel 2 Includes elements of unit standard 13070 - Evaluate and apply the processes of planning and control as it relates to corporate strategy, budgeting, pricing decision, standard costing and decentralized control.
Transcript of Advanced Financial Planning & Budgeting 2 y interactive ...ftinstitute.co.za/docs/finplan.pdf ·...
Planning & Budgeting Advanced Financial
INTRODUCTIONToday's companies are more competitive and dynamic than ever before. As a result, the days when corporate financial planning and budgeting was merely a routine process of estimating the coming year's revenues and expenses have long ended. Successful companies are constantly improving their ability to predict their future operations and their related resource requirements, enabling them to adjust their plans as needed and stay ahead of the competition. Not only does this heighten the importance of the planning and budgeting process, but it also changes the traditional roles of spreadsheets, systems, and software that are created in-house.
WORKSHOP OVERVIEWThis program takes those who have financial planning and budgeting experience and "raises-the-bar". It demonstrates the latest tools in forecasting and budgeting and then shows how to apply each one. We will walk through models of forecasting methods and then bring them together in practical application case studies and exercises so that you will be ready to use them in your company.
4WHO SHOULD ATTEND?4Financial Managers4Accountants4Chief Financial Managers4Cost Accountants4Management Accountants4Corporate Finance Specialists4Internal Auditors4Financial Controllers4Treasurers
WHAT WILL YOU LEARN?This program you will teach you how to: 4Achieve and maintain the edge through
modern financial planning and budgeting systems and the use of good software.
4Equip your corporation to excel in the twenty-first century with the tools and information offered in this invaluable program.
4Use the most advanced budgeting tools (the function of chief financial officers).
4Go beyond the traditional budgeting tools (treasurers).
4Go beyond budgeting limitations (controllers).
4Improve the accuracy of their financial plans and budget (senior managers).
Participants attending the program will:4Understand the principles underlining
Financial Planning by understanding the cutting edge methods used to optimize the
results of the financial planning and budgeting process. 4Create the best budget for maximum
performance. 4Gain confidence in using Excel in
developing models for financial forecasts, plans and budgets.4Gain confidence in using advanced models
to improve the accuracy of your inputs for financial forecasts, plans and budgets.4Understand Risk Assessment and
Management in the budget process and what to do about it. 4Successfully administer and implement a
new budgeting solution. 4Be able to monitor and evaluate
Prof Jaco FouchéJaco Fouché is professor and programme leader for Chartered Accountants'
(CA (SA)) training at the Potchefstroom Campus of the North-West University
(NWU). He holds the CA (SA) designation, a master's degree in financial
management and a PhD in accountancy education and has more than a
decade of teaching experience at various levels of complexity. In this time he
has received various outstanding educator and presenter awards, including
an award for the best lecturer in the faculty of Economic and Managements
Sciences and the KPMG best presenter award at a SAAA national conference.
He was responsible for the financial management module at honours level (CTA) for the CA-
programme for 8 years and is currently still involved in teaching financial accounting and
financial management. He frequently presents short courses, of which the latest are on
continuous professional development (CPD) in the accountancy profession, the basics of
accounting as well as corporate and personal financial management. This versatile and
creative educator is also author and co-author of various publications and reviewer for various
accredited journals. He is enrolled for the Chartered Financial Analyst (CFA) programme.
Jaco BarnardJaco Barnard is senior lecturer and programme leader for Managerial
Accounting (CIMA) training at the Potchefstroom Campus of the North-West
University (NWU). Jaco holds the Chartered Accountant (CA (SA)) designation,
is a Chartered Institute of Management Accountants (CIMA) passed finalist
and also obtained a B Com Honours in Accounting (CTA). During his studies, he
received various academic achievement awards, including the best B Com
Accounting student over three years. Since joining the NWU in 2004, Jaco
lectured at various levels of complexity in the subject fields of accounting and
managerial accounting. Since his involvement at the university he has received various
educator awards, including the award for the best lecturer in the Economic and Management
Sciences faculty in 2006. He is currently responsible for the managerial accounting module at
honours level for chartered accounting students. Jaco is actively involved in continuous
professional development training and short courses in the accounting profession for various
practitioners and other corporate clients. He is enrolled for his Masters degree in performance
management.
ABOUT YOUR PROGRAMME DIRECTORS
implemented budgets.
TEACHING METHODOLOGYGroups are small and most of the time two facilitators are present for individual attention. Delegates are requested to bring their own personal laptop computers to the course with a full installation of Excel® including the complete “Toolbox”. The training comprises teaching sessions covering each topic with demonstrations of the applications on the topics. Delegates then use the templates prepared in advance to apply the knowledge gained on each section to short case studies, using Excel®. A limited number of laptops are also available for rent during the workshop.
A day interactive workshop - Demonstrated with Excel2Includes elements of unit standard 13070 - Evaluate and apply the processes of planning and control as it relates to corporate strategy,
budgeting, pricing decision, standard costing and decentralized control.
FINANCIAL TRAINING INSTITUTE CC2009/167262/23
PO Box 20118Noordbrug 2522
Financial
InstituteTraining
Phone: 082 924 4948/083 296 3541Fax: 086 510 9561
E-mail: [email protected]
WORKSHOP OUTLINE
Module 1Introduction to Financial Planning
4What is Financial Planning? 4Meeting global shareholder and
stakeholder objectives. 4Capital structure and weighted average cost
of capital (WACC).4Key Performance Indicators.
=Key ratios.=The EVA® model and residual income
and understanding the strengths and weaknesses of these methods of measuring performance.
=Du Pont: The effect of changes in sales, expenses, capital structure and assets affect an organization's ROI.
4Balanced Scorecard, looking at non-financial measures.=Identifying customer perspectives in
financial planning. =Identifying internal perspectives in
financial planning. =Identifying learning and innovation
perspectives in financial planning. =Assessing leading indicators in each
perspective in financial planning.
Module 2An Overview of Budgeting
4Budgeting Today: Overview and Trends. 4Budgeting Processes.4Budget administration. 4Budgeting Methods.
=Traditional budgeting.=Zero-based budgeting.=Kaizen costing.=Activity based budgeting.
4What typically goes wrong with budgets? 4Static and flexible budgets.4Distinguish between variable, fixed and
mixed costs.4Improving the accuracy of you budget.4Segment reporting and decentralisation.
=Differentiate between cost centres, profit centres, and investment centres, and explain how performance is measured in each.
=Prepare a segmented income statement using the contribution format, and explain the difference between traceable fixed costs and common fixed costs.
Module 3Tools and models
44Using Excel as a Budgeting Tool. 4What is a "Model"? 4How to build budget models. 4Working through model development.
Module 4The Operating budget
4Components of the operating budget.=Sales budget.=Production budget and budgeted stock
levels.=Direct materials usage budget.=Direct materials purchase budget.=Direct labour budget.=Factory overhead budget.=Selling and administration budget.=Departmental budgets.
4Master budget.
Module 5The Capital budget: Investment Appraisal4The practice of capital budgeting. 4Determining relevant cash flows.
=Initial and subsequent cash flows.=Working capital changes and its impact.=Evaluation of cash flow estimates.
4Dealing with practical issues.=International projects.=Tax and assessed losses.=Inflation.=Risk.
4Evaluation of capital projects using:=Discounted payback.=Net Present Value (NPV). =Internal Rate of Return (IRR). =Modified Internal Rate of Return (MIRR). =Profitability Index (PI).
Module 6Risk analysis and budget evaluation
4Show how changes in sales, expenses, and assets affect an organization's ROI (DOL, DFL).
4Show how forecasts can be made to reduce the risk of uncertainty.
4Scenarios analysis uses and limitations demonstrated.
4Sensitivity analysis (cause and effect
Financial Planning Models: A First Look.
connections) uses and limitations demonstrated.
4Simulation analysis uses and limitations demonstrated.
4Introduction to financial engineering using forward contracts, futures, swaps and options.
Module 7Monitoring and response
4Standard costing.=What is standard costing?=Determining standards.=Standard costing and variable costs.=Standard costing and fixed costs.=Explain the significance of the
denominator activity figure in determining the standard cost of a unit of product.
=Sales variances.4Static and Flexible budgets.
=The difference between Static and Flexible budgets.
=The advantages of the flexible budget approach over the static budget approach.
=Flexible budgeting and overhead analysis.
=Prepare a performance report for both variable and fixed overhead costs using the flexible budget approach.
=Use the flexible budget to prepare a variable overhead performance report containing both a spending and an efficiency variance.
=Apply overhead cost to units of product in a standard cost system.
=Compute and interpret the fixed overhead budget and volume variances.
4Variances.=Variance reports and what is important. =Comparing forecasts to actual results. =Timeliness of the evaluation. =Implementing, communicating, and
cascading variance analysis. =Variance Analysis applied. =Information systems/technology as
support tools for Variance Analysis.
“Knowledge empowers...”
TERMS: This short course is not assessed, an attendance certificate will however be issued. The language of instruction is English. You must have budgeting experience or first degree/diploma to enrol and be computer literate. If you have any disability contact us in advance to see how we can accommodate you. For fees, refer to the registration documents on the website.
FASSET Approved Provider, NR 585/01266/10
