Advanced Budgeting

Overview

This 3-day workshop will take participants beyond the mathematical process involved in creating a budget and explore in detail the nature and driving forces behind the organisation’s sales and costs. This workshop will benefit organisations from SME’s to complex corporates who would like to improve or build their organisational behaviour and performance systems towards motivated teams/departments and communicated with well-defined budgets and variance reporting mechanisms. Techniques from balanced score-card to dashboard, forecasting and modeling are used in the training sessions to create and improve the expertise of all participants.

Learning Objectives

Upon completion of this workshop, participants should be able to:

  • Review and improve their budget planning, preparation, review and control processes
  • Evaluate and leverage different types of budgeting techniques
  • Analyse and explain all categories of costs in the organisation
  • Appreciate the use of ‘cost’ as a control mechanism
  • Track, generate and report on cost information
  • Illustrate the relationship between cost and organisational effectiveness
  • Develop long-run and short-run budgets
  • Develop a successful business case and track success using variance reporting
  • Improve decision-making using budgeting and financial techniques
  • Understand and manipulate the sources of financial and business data to support the budgeting process
  • Use appropriate techniques and methodologies to simulate and analyse business scenarios
  • Use information or technology and data warehouses for informed management decisions

Programme Outline

Designed to run over a 3-day period, the workshop will cover specific deliverables on:

  • Identifying and analysing cost, cost information and review of key cost concepts
    • Budgeting and the strategic planning process
    • Communicating and linking the strategic plan and associated budget
    • What are your organisation’s profit drivers
    • What are you organisation’s cost drivers
    • What are the most common mistakes in budgeting today
  • Practical Budgeting Techniques
    • Reviewing cost structures for budget optimisation
    • New techniques in budgeting
    • Cash budgeting
  • Planning and Budgetary Control Systems
    • Budget, motivational and responsible accounting
    • Cost management information and systems
    • Developing organisational cost-awareness
    • Product vs. period costs
    • Direct and indirect costs
    • Cost behavior: fixed and variable costs
    • Using budgeting as a management and organisational control system
  • Control Systems and Performance Measurement
    • Process development and its links to costing
    • Financial and non-financial performance measurement
    • Designing accounting-based performance measurement

Target Group

This workshop would be beneficial to:

  • Accountants
  • Executives and Managers responsible for a company’s budget/cycle planning
  • Financial Managers
  • Public Sector Officers responsible for state sector budgeting and control
  • Past participants of the Budgeting workshop

Faculty Bio-Sketch: Nigel Chinapoo

Nigel Chinapoo is a Director of a number of local and regional ICT and financial service companies and former Chief Information Officer of a multi-national conglomerate of financial and service companies based in the Caribbean. His unique background makes him well qualified to advise on the role of financial and information communications technology processes/systems on departmental operational, change management and new business initiatives. He has over 12 years of experience in the financial and services industry both as a financial/accounting professional and technology/systems executive.
Mr. Chinapoo launched his accounting career with membership and subsequent fellowship of the Association of Chartered Certified Accountants (ACCA) in 2000/2003. He moved directly into the financial services industry in 1999 when he accepted the Finance Manager position with then Colonial Life Insurance Company and its subsidiaries throughout the Caribbean. Mr. Chinapoo’s subsequent experiences include serving as the head of insurance and financial systems development at SunGard Insurance Systems in Atlanta as well as Manager of Mergers and Acquisitions at Citigroup. He also served as Chairman and Board Member with several Health and Document Imaging companies based in Trinidad and Tobago. Mr. Chinapoo’s experience with leading financial organisations is complemented by his leadership roles in various industry organisations such as Chairman of the E-Teck ICT Cluster advisory Board and member of the Trinidad Chamber of Industry and Commerce’s EBITT committee.
Mr. Chinapoo is a graduate of the University of the West Indies with a BSc. in Economics/Mathematics and is a Fellow of the Association of Chartered Certified Accountants (F.C.C.A.).

Details

Date View Event Calendar
Time 8:30 pm – 4:30 pm
Duration 3 Days
Cost TT $4,500.00 (inclusive of training materials, refreshments and Certificate of Participation) 
Please note that prices are subject to change without notice.
Venue Arthur Lok Jack Graduate School of Business
Max Richards Drive,
Uriah Butler Highway, North West,
Mt. Hope

Contact

Tel: 645-6700
Fax: 662-1411

Coordinators:

Anastasia Mohammed ext. 328
Tamara Edwards ext. 157

E-mail:  openenrolment@lokjackgsb.edu.tt

Certification

Certificates will only be issued to participants who have attained a minimum attendance rate of 75% for the duration of the course.

Course Cancellation/ Reschedule Policy

Arthur Lok Jack GSB (ALJGSB) reserves the right to cancel training at any time. If ALJGSB cancels the training due to unforeseen circumstances beyond the control of ALJGSB, you are entitled to a full refund of the course fee, or your course fee can be credited toward a future training, based upon availability (providing payments have been made before original advertised date).

ALJGSB reserves the right to reschedule training at any time. If ALJGSB reschedules training due to unforeseen circumstances beyond the control of ALJGSB, the training will take place at the next available time. Participants will be informed via phone and/or e-mails.

 

  

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