Budgeting for performance management training course for managers

Budgeting and Business Performance Management

• Creating value for key organisational stakeholders

• Business Performance Management (BPM) frameworks

• The fundamentals of competitive strategy

• The vital role of budgeting and cost management in BPM

• Principles of financial and management accounting

• Key financial measures of value creation

• Using strategy maps to integrate non-financial measures

Cost Planning and Cost Management

• Defining and understanding cost behaviour

• The role of costing in performance management

• Traditional costing: absorption costing

• Traditional costing: marginal costing and break-even analysis

• Traditional costing: standard costing control frameworks

• Developments in costing: Target and Kaizen costing

• Developments in costing: Activity Based Costing (ABC)

• A strategic approach to cost management and reduction

Steps and Techniques in Budget Preparation

• Forecasting techniques for budgeting

• Business Intelligence and budgeting

• Diagnostic and predictive analytics for budgeting

• Statistical tools and techniques in sales forecasting

• Statistical tools and techniques for cost forecasting

• Steps in the budgeting process

• Budgeting and managing capital expenditure (CapEx)

• Cash flow forecasting and budgeting

• Styles and approaches to budgeting

• Human and behavioural aspects of budgeting

Using Budgets to Monitor and Manage Performance

• Principles of Responsibility Accounting

• Variance analysis and performance management

• Standard costing and cost management

• Using data analytics to find the root cause of variances

• Data visualisation techniques for financial reports

• Designing budget reports

• Dashboards and their use in performance management

• Designing tactical dashboards for budget management

Beyond Budgeting to Adaptive Management

• Shortcomings of traditional approaches to budgeting

• Beyond Budgeting case study

• Moving towards decentralised performance management

• Replacing budgets with rolling forecasts

• Using key driver forecasts for risk management

• Using balanced scorecard to manage Key Performance Indicators

• Why traditional budgeting still has a key role to play