Budgeting, Planning & Financial Reporting Masterclass

This day introduces planning strategies and their impact on budgeting and reporting. Participants explore strategic analysis, governance, and the role of budgeting in business planning. The topics covered will include:  

• 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

This day focuses on techniques used to forecast financial data and plan budgets accurately. Participants learn quantitative tools and regression methods to analyse historical data effectively. The topics covered will include:  

• 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 analyse historical data

This day develops knowledge of budgeting purposes, cost classification, and budget control tools. Participants explore cost behaviour, CVP analysis, and standard costing mechanisms. The topics covered will include:  

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

This day examines activity-based costing and budgeting frameworks to support cost management and budgeting refinement. Participants evaluate cost drivers, cost hierarchies, and the behavioural aspects of budgeting. The topics covered will include:  

• 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 organisations
• Motivation and the behavioural aspect of budgeting

This day explores performance management systems and the integration of budgeting with broader performance metrics. Participants examine balanced scorecards, shareholder value measures, and non-financial performance indicators. The topics covered will include:  

• 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

This day introduces the purpose, principles, and context of financial accounting and reporting. Participants explore key concepts, corporate governance frameworks, and foundational financial reporting structures. The topics covered will include:  

• 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

This day focuses on understanding the statement of financial position and income statement, their presentation, and application within the IASB conceptual framework. The topics covered will include:  

• 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

This day explores cash flow statements, working capital optimisation, and group reporting. Participants examine cash flow drivers and forecasting techniques. The topics covered will include:  

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

This day emphasises analytical techniques for financial reports, including liquidity, profitability, and shareholder value analysis. Participants also explore forecasting and risk indicators. The topics covered will include:  

• Fundamentals of analysing 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

This day focuses on designing effective financial reports, incorporating graphical elements and dashboards for internal use, and understanding developments in Integrated Reporting. The topics covered will include:

• 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