Advanced Reporting and Budgeting

Course schedule

Classroom Training:
DateVenueDurationPrice
19 - 30 Aug 2024London10 days£7,250
18 - 29 Nov 2024London10 days£7,250

Please note: prices shown above are exclusive of VAT (20%).

Course Overview

Take your financial reporting and budgeting skills to the next level. This advanced course covers sophisticated techniques for financial planning, analysis, and reporting to inform strategic business decisions.

Who Should Attend

Those for whom finance is part of their responsibility or are new to management and need a greater understanding of finance. They will be from all sectors, including private, public and not-for-profit including:

  • Those who are new managers or managers wanting a refresher
  • Budget holders who want to create and manage their budgets more effectively
  • Operations managers who want to know more about cost management and projects
  • Sales and marketing employees who want to understand financial statements
  • Anyone who needs to understand key accounting concepts, and improve forecasting and cost management skills
  • Managers who are about to be promoted into positions which require financial literacy
  • Managers facing financial decisions or expect to make a contribution to a wider planning process

Course Outcomes

  • Introduce fundamental bookkeeping and accounting concepts enabling them to manage the financial aspects of their role more effectively
  • Review the different approaches taken in the public and private sector
  • Make sense of key financial statements and key ratios
  • Manage financial aspects of projects more effectively
  • Assist in putting together a budget to justify expected expenditure
  • Measure budgetary performance
  • Conduct effective investment appraisals

Course Topics

Concepts and principles

  • Bookkeeping versus accounting
  • Cash accounting versus accrual accounting and use in private and public sectors
  • Types of accounts in the General Ledger their purpose and the chart of accounts
  • Double-entry bookkeeping concepts and implications
  • Depreciation and amortisation

Interpreting Financial Statements

  • The income statement (PandL) statement format content and key concepts
  • Interpretation of key ratios derived from the income statement; P/E ratio Profit margin
  • The language and major components of the balance sheet
  • Business ratios derived from the balance sheet and PandL together liquidity debt profitability etc

Investment Appraisal

  • Defining the value generated and the required return – the hurdle rate
  • Return on capital employed – calculation methodology and interpretation
  • Payback period calculations
  • NPV and IRR calculations
  • Non-financial aspects of investment appraisal and decision making

Essential Budgeting Process

  • Purpose and benefits problems and limitations of capital and operational budgets and the important differences
  • Budget processes in the private sector
  • Budget processes in the public sector
  • Identification of risks to the budget and actions to mitigate them

Measuring Financial Statements

  • What is financial performance?
  • Financial performance in the public sector
  • The importance of cash flow – how to measure and improve it
  • Gross profit operating profit net profit margin
  • Key performance ratios

Investment Appraisal

  • Defining the value generated and the required return – the hurdle rate
  • Return on capital employed – calculation methodology and interpretation
  • Payback period calculations
  • NPV and IRR calculations
  • Non-financial aspects of investment appraisal and decision making

Management Accounting

  • Types of management information prepared for internal consumption
  • Financial information managers need in order to be able to manage – the power of comparisons
  • Historical revenues and profits cost trends product profit margins receivables information budget comparisons break-even analysis and contribution margin analysis.

Managing the Costs and Finances of Projects

  • The stages of project management – PMBOK® Guide and Prince 2 compared
  • Building the Business case and getting approval for funding
  • Estimating project costs – expert analogous parametric bottom up estimating etc
  • Understanding Gantt charts
  • Project forecasts
  • Project risks and financial implications

Building an Effective Budget

  • Public Sector context of financial management
  • Public budgeting seen through four perspectives – political economists accountants managers
  • Approaches to budgeting including; line item budgeting program budgeting zero-based budgeting priority-based budgeting
  • Three prerequisites for budget preparation
  • Medium Term Expenditure Frameworks – aligning budgets

Investment and Risk

  • Building an investment portfolio – key questions – WHY are we investing REQUIRED RETURN WHAT do we invest in WHEN do we invest WHERE do we invest
  • Five key stages – risk preference asset classes amount to invest in each class choose investments monitor and rebalance
  • Fundamental and Technical analysis techniques
  • Identification and mitigation of key risks

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