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World-class Dynamic Budgeting and Forecasting (Makati, Philippines - May 6-8, 2020)

  • ID: 4871688
  • Training
  • May 2020
  • Location: Makati, Philippines
  • 3 Days
  • Salvo Global
  • Training Dates: May 6-8, 2020
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Most finance professionals in large companies are dissatisfied with budgets; they often believe too much time and resources are spent on this activity. Some even believe budgets may even be harmful to the organization, as managers engage more in game-playing rather than maximizing shareholder returns. Many believe budgets don’t deliver all that they should and suspect there must be a better way. These thoughts and ideas have led to the development of new tools and techniques, some quite radical, even proposing the complete abandonment conventional budgets.

This programme introduces some of these ideas but also develops them so that delegates can identify some practical new approaches which they can realistically take back into their own businesses.

The programme also reviews emerging ideas and breakthroughs on managing and reducing costs without causing long-term damage to the business. It covers approaches to help organizations effectively delegate budgets and cost management responsibility to managers while still delivering long-term corporate strategy and customer value.

This 3-day interactive masterclass uses a mixture of exercises, discussion and real-life case studies to keep the training lively, practical and relevant. It includes some of the latest research on good practice in budgeting and cost management.

Throughout the program, delegates will be encouraged to build an action plan, listing the positive action they are going to do when they get back to their business to make budgeting and cost management better.

Top Learning Objectives

  • Develop dynamic, rapid and on-going cost reduction and control management
  • Implement strategies, tools, and techniques to encourage and enable staff to improve cost management and control
  • Learn and apply balanced scorecards and relative KPIs to monitor budgeting and forecasting performance
  • Integrate cost reduction into budgets and plans within the organization
  • Build more effective budgeting and forecasting at all times and not only during challenging times
  • Utilize the toolbox - practical tools and templates to impact cost management performance straight away at your workplace
  • Utilize an effective budgeting approach with rolling forecast for improved decision making
  • Initiate effective cost management culture and reduction culture in your organization
  • Master modern costing techniques for advanced budgeting
  • Apply qualitative and quantitative forecasting tools and techniques to evaluate and stay ahead of potential financial risks affecting the organization
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INTRODUCTION

  • Why budgets should be more dynamic?
  • Why budgets should be integrated with all other aspects of business?

SESSION 1: MOVING TO STRATEGY FOCUSED BUDGETING

  • Why does strategy matter in budget?
  • Mission, Vision, and Values
  • Strategy Models
  • Strategic Planning vs Strategic Thinking - the impacts on budgeting
  • Communicating strategy to budget
  • Strategy lead planning and budgeting

CASE STUDY/EXERCISE: IMPROVING BUDGETARY STRATEGIC ALIGNMENT

SESSION 2: DEVELOPING BEST PRACTICE- BALANCED MEASURES - BEYOND FINANCIAL MEASURES - BEAT THE COMPETITION NOT THE BUDGET

  • Balanced scorecards and budget
  • Integrating relative KPIs and Balanced Scorecards in Budgeting
  • Developing relative KPIs and Balanced Scorecards
  • Implementing relative KPIs and Balanced Scorecards in Budgets

CASE STUDY: DEVELOPING YOUR BALANCED SCORECARDS AND KPIs

SESSION 3: MODERN COSTING DEVELOPMENTS FOR ADVANCED BUDGETING

  • Measuring cost and value
  • Cost Volume-Profi t Analysis (CVP) (Includes Breakeven points in units and sales, Assumptions)
  • Operational Gearing and Budgeting and Planning
  • Understand cost and value drivers
  • Activity-based cost management
  • Activity-based budgeting
  • Activity Matrix

CASE STUDY/EXERCISE: DEVELOPING ACTIVITY BASED BUDGETING

SESSION 4: MOTIVATING TEAMS TO DELIVER MORE WITH BUDGETS

  • Improving budget management and responsibility
  • Driving cost control
  • Driving cost reduction
  • Kaizen Budgeting - Towards a continuous improvement culture
  • Cash and Working capital management in budgets
  • Case Study/Example: Organizing budgets with “Internal Markets” - Pros and Cons

SESSION 5: BEST BUDGETING OR “BETTER BUDGETING”

  • Defining the role of budget
  • Traditional Budgeting (drawbacks and limitations)
  • Zero Based Budgeting (Advantages and Disadvantages)
  • Rolling Forecast
  • Flex/Flexible budgets

Case Studies:

  • Role of Budgets/Best Practice
  • Budget budgeting - fixing the bad aspects of budgets and budgeting in your organization

SESSION 6: BEYOND BUDGETING

  • Better Practice - Building Projects
  • Faster Budgeting Building
  • Better Practice managing and Delegating Budgets

Exercise:

  • Principles of Beyond Budget
  • Learning from beyond budgeting for “better budgeting”
  • KPI’s Balance scorecards and relative KPIs in “beyond budgeting” and “better budgeting”

CASE STUDY/EXERCISE: BUDGETING CHANGES IN YOUR ORGANIZATION

SESSION 7: FORECASTING - TOOLS AND TECHNIQUES

  • Forecasting tools and techniques
  • Faster Forecasts - Driver Based
  • Defining Forecast Frequency
  • Measuring and Improving Forecast Accuracy

PRACTICAL EXERCISES - BUILDING FORECAST

SESSION 8: LONG TERM PLANS AND FORECAST/LONG TERM PLANS AND CAPITAL BUDGETING AND CASH MANAGEMENT

  • Long Term Planning
  • Financial Modelling for long term

SESSION 9: BETTER CAPITAL BUDGETING

  • Investment appraisal and working capital modelling
  • The cost of capital
  • The time value of money
  • Investment Criteria - ARR / NPV / DCF / IRR / MIRR
  • Developing advanced idea in your capital budgeting
  • Modelling cash fl ow for investment and strategic decision making
  • Incorporating flexibility and options into investment decisions
  • Risk and Investment
  • Mote Carlo Analysis

CASE STUDY - ADVANCED SENSITIVITY ANALYSIS/OPTION FLEXIBILITY ANALYSIS

SESSION 10: CASH AND WORKING CAPITAL MANAGEMENT AND BUDGETING

  • Importance of working capital management
  • Cash Flow and profi t relationship
  • Why hold cash and how much should you hold
  • Risk and return trade-off

Case Study/Exercise:

  • Cash Flow Presentation
  • Cash Flow Modelling
  • The working capital cycles
  • Cash conversion cycle
  • Inventory
  • Debtors & Days Sales Outstanding
  • Creditors & Days payable Outstanding
  • Working Capital KPIs
  • Inventory
  • Accounts Receivable
  • Accounts Payable
  • Optimization vs Minimization
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  • Nigel Wyatt Nigel Wyatt,
    Magenta Financial Training


    Nigel Wyatt is a finance training consultant – over the last 25 years, he has delivered engaging and interactive programmes for a wide range of organizations across Europe, Asia, Africa, and the Middle East. He has even delivered finance training in Buckingham Place.

    Since 1992, he has been the Managing Consultant of Magenta Financial Training, specializing in financial training and coaching. After he started his career in accountancy and working in industry, he become a lecturer at a UK university before moving into a career in consultancy, specializing in financial and management training and coaching. He delivers training and consults widely with major organizations internationally in Europe, Middle East, and Asia. He has lead training events for one person through to over one hundred. He has worked with hundreds of major “Blue Chip” organisations and trained thousands of managers at every level. He also provides confidential coaching to directors and senior executives on a one-to-one basis. The trainer has also worked as a specialist consultant to all of the major UK professional accountancy bodies and a number of leading universities in both the UK and China. He is also the author of “The Financial Times Essential Guide to Budgeting and Forecasting” (published July 2012).

    His training style is involving and participative using case studies to reinforce learning.  He makes the programmes interesting and practical and makes sure delegates are able to put into practice what they have learned on their programme.

    The trainer holds an honors degree from the University of Bradford Business School and is a qualified management accountant; he is an associate member of the Chartered Institute of Management Accountants (ACMA).

    Some of the organizations that have benefited from his expertise include:

    • BP
    • Unilever
    • Delta Airlines
    • British Energy
    • PTT
    • Permata Bank
    • Carigalihess
    • Barclay Card
    • Rockwell Electronics
    • BASF
    • Citibank
    • Barclays Bank
    • T-Mobile
    • Royal Mail
    • Sabic
    • Petroleum Development Oman
    • Goodyear
    • Tyco
    • Valeo
    • Virgin
    • Maybank
    • Hempworth Minerals & Chemicals
    • Abbots
    • Elsevier Science
    • National Grid
    • Magnox Electric
    • Fosroc International
    • Bank Simpanan Nasional
    • Talisman Energy
    • Opal Engineering
    • PTTEP
    • Carigali-PTT
    • North Birmingham College
    • British Telecom
    • TK Maxx
    • Index
    • Argos
    • Blockbuster
    • Wickes
    • Northern Foods
    • Logan Industries

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This course is designed for Managers, Supervisors, General Managers, Heads, Team Leaders, Vice Presidents, Directors, CFO’s and Coordinators of:

  • Finance
  • Accounting
  • Budgeting and Reporting
  • Financial Planning
  • Cost Management
  • Strategic Planning
  • Cash Management
  • Treasury
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ADDRESS

Makati
Philippines

Venue to be announced shortly.

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