Budget Preparation and Financial reports
INTRODUCTION
The budget is used as part of the planning process in terms of setting goals, implementing activities, and the expenditure that is likely to be incurred. Formulating a budget is therefore essential to managers to help you understand how well their business is performing
A financial statement(report) is a formal record of the financial activities and position of a business, person, or other entity. Relevant financial information is presented in a structured manner and in a form easy to understand Budget Preparation and Financial reports course will give you a solid foundation in finance. We will cover topics like commonly used terms, financial statements, budgets, forecasting, purchasing decisions, and financial legislation.
OBJECTIVES
At the end of the Budget Preparation and Financial reports Training Course, you will be able to :
Identify financial terminology
Understand financial statements
Identify how to analyse financial statements
Understand budgets
How to make budgeting easy
Understand advanced forecasting techniques
Understand how to manage the budget
Identify How to make smart purchasing decisions
Identify the legal aspects of finances.
WHO SHOULD ATTEND ?
Budget Preparation and Financial reports Training Course is ideal for: Accounting and financial specialists. Those who wish to understand how to interpret the financial statements of business entities, those who wish to learn the mechanics of preparing financial statements under IFRS.
Individuals are charged with the responsibility of providing financial information about a reporting entity that is useful to users in making decisions.
Financial accounting team members
Financial planning and budgeting professionals
Strategic planning and head office team members
Corporate communication and investor relations professionals
Investment analysts and advisers
COURSE OUTLINE
Day 1
Budgeting and Planning
The Budget and the Functions of Management. Budget as a Planning Tool.
Budgets and the Key Financial Statements. Top-Down versus Bottom-Up Process.
Day 2
Budgeting and Its Role Within the Management Process
The Role of Budgeting within Management Accounting
Linking Costing and Budgeting to Strategy and Performance Measurement
The Process of Value Creation: Implications for Budgeting
What is a budget and why costing is fundamental?
Budgets - The Financial Expression of the Operating Plan
Linking Financial and Operational Issues
Behavioural Implications of Budgeting
Case Discussion and Examples
Day 3
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
Day 4
Preparing Financial Reports and Notes
Mapping the Adjusted Trial Balance to the Financial Statements
Preparing Income Statements
Preparing Balance Sheets
Preparing Cash Flow Statements
Preparing the Equity Statements
Reading and Interpreting the Audit Opinion
Day 5
Notes to the Financial Statements
Understanding the Requirements for the Notes
Organization and Activities of Notes
Basis for Preparation
Summary of Significant Accounting Policies
Accounting Convention
Use of Estimates
Completing the Financial Statements and the Notes
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