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Budgeting, Planning & Financial Reporting Masterclass

An Intensive 10-Day Training Course

Budgeting, Planning &
Financial Reporting Masterclass

Master the Tools for Planning and
Managing Organisational Excellence

Scheduled Dates

06 - 17 May 2024 London - UK $11,900
13 - 24 May 2024 Dubai - UAE $11,900
08 - 19 Jul 2024 Amsterdam - The Netherlands $11,900
12 - 23 Aug 2024 London - UK $11,900
21 Oct - 01 Nov 2024 London - UK $11,900
02 - 13 Dec 2024 Dubai - UAE $11,900
27 Jan - 07 Feb 2025 Dubai - UAE $11,900
Enroll Now In-House Options

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Why Choose this Training Course?

This PetroKnowledge Budgeting, Planning & Financial Reporting Masterclass training course is focused on some of the most important elements key to attaining organizational excellence and creating real business value. Most companies recognize that the profitable growth that drives business value can only be consistently achieved and sustained when a competitive advantage can be employed in a compelling business strategy that can be put into action through a functional business model. But in the challenging and dynamic world of the 21st century it is also critically important to be able to use the right tools within an effective performance management framework in order to execute, control and adapt this strategy in response to the ever present threat of business model evolution and disruption.

This Budgeting, Planning & Financial Reporting Masterclass training course deals comprehensively with all of the important aspects of the strategic and tactical forecasting and planning processes that can provide an organizational “roadmap to success’; it identifies the most relevant cost analysis techniques to support cost management and strategic cost reduction; the training course also provides an in depth view of financial reporting under the IFRS framework and its application in providing powerful integrated management reports that can support the control and adaption of organizational strategy.

This Budgeting, Planning & Financial Reporting Masterclass training course will highlight:

  • Principles and techniques off strategic and budget planning
  • Planning, executing, controlling and adapting strategy
  • Essentials of cost analysis, control and reduction
  • Comprehensive guide to financial reporting
  • Designing management reports, dashboards and presentations

 

The Structure

This PetroKnowledge training course is split into two modules:

MODULE I - Budgeting, Planning & Management Reporting

MODULE II - Financial Accounting & Reporting

Each module is structured and can be taken as a stand-alone training course; however, delegates will maximise their benefits by taking Module 1 and 2 back-to-back as a two-week training course.

What are the Goals?

This PetroKnowledge training course has been designed to provide you with up to date knowledge and practical skills in strategic and tactical planning, and financial reporting.

At the end of this Budgeting, Planning & Financial Reporting Masterclass training course, you will have learned to:

  • Use budgets to manage strategic execution
  • Employ up-to-date techniques in cost analysis and control
  • Prepare and present effective financial reports
  • Combine non-financial KPIs in management dashboards
  • Apply planning and reporting to improve decision-making

Who is this Training Course for?

This training course would be relevant to all of those involved in the preparation, presentation, and interpretation of corporate budgets and financial reports from both the private and public sector; both in commercial businesses, government, and not-for-profit organizations.

This Budgeting, Planning & Financial Reporting Masterclass training course is suitable to a wide range of professionals but will greatly benefit:

  •  Budgeting and Planning Team
  • Cost Analysts
  • Head Office Staff
  • Financial Forecasting Team
  • Those with reporting responsibility
  • Investment Analysts

How will this Training Course be Presented?

This training course will be structured as a highly participative workshop with formal presentations, case studies and interactive worked examples. Relevant examples and case studies are provided to illustrate the application of each of the topics covered, and opportunities are provided to learn and apply the key principles using practical examples and exercises

Organisational Impact

The organization will benefit from the development and practical application of advanced skills in forecasting, planning and reporting, within a framework to facilitate the execution, control and adaption of business strategy; specific benefits for the organization will include:

  • Improved planning and forecasting resources
  • Access to up-to-date cost analysis and control techniques
  • High quality management reports and dashboards
  • Effective integration of key financial and non-financial metrics
  • Improved organizational decision-making

Personal Impact

Delegates will benefit from updated knowledge and practical skills in planning, forecasting and reporting that will allow them to make a greater contribution to the development and improvement of corporate management whilst at the same time enhancing their own career development potential.

Specific benefits from this Budgeting, Planning & Financial Reporting Masterclass  training course will include:

  • Improved planning, budgeting and forecasting skills
  • Application of advanced cost analysis and control methods
  • Comprehensive update on IFRS reporting
  • Usable skills in designing reports and dashboards in Excel
  • Tips on designing and presenting effective reports

Daily Agenda

Module I: Budgeting, Planning & Management Reporting

Day One: PLANNING STRATEGY AND CORPORATE GOVERNANCE 

  • What are planning strategies?
  • Strategy analysis, choice & implementation
  • The role of strategy maps in defining the business
  • Effective and less effective management reporting practice
  • The agency problem and corporate governance
  • Planning requirements and the importance of working capital

Day Two: Forecasting Techniques for Budgeting 

  • Determine the purpose and objective of the forecast
  • Statistical analytical tools
  • Quantitative analysis and forecasting
  • Forecasting techniques
  • Agency problems in forecasting- solutions
  • Causal analysis models – regression analysis
  • Using Excel ® to analyze historical data

Day Three: Budgets, Costs and Budgetary Control 

  • Why do we budget? – the purposes of budgeting
  • Planning and control
  • Putting the budget together
  • Cost behavior and classification
  • Cost / volume /profit (CVP) and ‘what-if’ analysis
  • Standard costing
  • Flexed budgets
  • Variance analysis and the reasons for variances

Day Four: Activity Based Costing & Activity Based Budgeting 

  • Activity based costing (ABC)
  • Refinement of the costing system
  • ABC and cost management
  • The cost hierarchy and cost drivers
  • Advantages and disadvantages of ABC systems
  • From traditional budgeting to activity based budgeting (ABB)
  • Time-based ABC for services organizations
  • Motivation and the behavioral aspect of budgeting

Day Five: Performance Management and Beyond Budgeting  

  • Broadening performance measurement systems
  • The Drive toward Shareholder Value (EVA®)
  • Beyond budgeting: integrating financial and non-financial issues
  • Introducing the Balanced Scorecard and the key perspective


Module II: Financial Accounting & Reporting

Day Six: Financial Accounting and Reporting – Business Context and Key Principles 

  • Purpose of financial accounting and reporting
  • Key principles in corporate governance
  • Building a winning business model
  • Key concepts in financial accounting
  • Structure of financial accounting systems
  • Fundamentals of financial reporting
  • Creative accounting, scandals, and fraud

Day Seven: The Statement of Financial Position and Income Statement

  • The IASB Conceptual Framework
  • Statement of Financial Position: purpose structure and presentation
  • Tangible and intangible assets
  • Financial assets and liabilities
  • Inventories
  • Statement of Changes in Equity: purpose structure and presentation
  • Income Statement: purpose structure and presentation
  • Revenue recognition principles

Day Eight: The Statement of Cash Flows and Group Reporting 

  • Statement of Cash Flows: purpose structure and presentation
  • Understanding business cash flow drivers
  • Equity capital and debt capital
  • Leases
  • Optimizing working capital
  • Cash flow forecasting techniques
  • Group Accounts: purpose structure and presentation

Day Nine: Analysis and Interpretation of Financial Reports

  • Fundamentals of analyzing financial reports
  • The shareholder value concept
  • Measuring and managing profitability
  • Measuring and managing liquidity
  • The effect of gearing on risk and shareholder value
  • Predicting corporate distress and failure
  • Forecasting financial performance and financial position

Day Ten: Designing and Presenting Effective Financial Reports

  • The limitations of financial reports
  • Designing effective internal business reports
  • Incorporating Excel graphics in internal reports
  • Developing and using business dashboards
  • Making effective financial presentations
  • Developments in Integrated Reporting (IR)
  • Integrated Reports: purpose, structure, and presentation

Certificate

  • On successful completion of this training course, a PetroKnowledge Certificate will be awarded to the delegates

In Association With

GLOMACS Training

Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients

Visit Website ›

Frequently Asked Questions

How can I register for a training course?

  • To register online through our website, please click “Enroll Now” on the course page, complete and submit the form. A confirmation e-mail and instructions will be sent to the participant’s e-mail.
  • You may also get in touch with our Registration Team on
    +971 50 981 7386 | +971 2 557 7389 or send an email to reg@petroknowledge.com

When and how do I arrange payments?

  • Payments can be made in USD or UAE local currency AED (Arab Emirates Dirhams) either by Bank Transfer or by Credit Card. Our Bank Account details will be provided on the invoice.
  • Course fees are payable upon booking unless a valid, authorized Purchase Order is provided and accepted.
  • Invoices will be sent via email/courier to the ID/name and address provided.
  • The course fee shall be settled prior to course start date. Corporate payments with existing payment policy shall be relayed to us in advance.

When should I expect to receive confirmation of registration?

Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.

Is there a discount for more than one registrant/course?

For corporate fees and group registration, please send your query to info@petroknowledge.com.

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All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.


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