Audience

Managers, prospective managers, and any other employees seeking advanced competency in the area of budgeting and financial planning

Prerequisites

An understanding of the principles of financial planning

Course Aim

To introduce the learner to the benefits, purpose, and strategies of corporate financial planning

Learning Objectives

Explain the advantages of effective budgetary planning. Explain how operating budgets are linked to the value chain. Discuss the importance of efficient budget administration. Plan a production budget. Outline the planning involved in various types of company budget. Plan a budget forecast. Use CVP analysis to help with budgeting and financial decisions.

Topics Covered

Planning budgets - The purposes of budgeting - Operating budgets and the value chain - Budget administration Introducing budget types - The limiting factor and the sales budget - The production budgets and types of cost - The purchasing and departmental budgets - The master and cash budgets The planning process - Strategic planning - Planning revenue budgets Cost-volume-profit analysis - Introduction to CVP analysis - Determining the breakeven point Financial decision making - Using CVP for decision making - Hands-on: Using CVP analysis

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