Plans and Budgets Preparation Skills

Plans and Budgets Preparation Skills from outsource training center Khartoum Sudan
Supply Chain Management

Learning Objectives:

The objectives of this training course are to enable the trainee to:

develop the annual plans on the department level and the overall plan.

prepare the annual budgets on the department level and the master budget.

use various Excel models to formulate the annual plans and budgets.

employ the variance analysis reporting to take appropriate corrective actions in order to improve the overall performance.

Training Methodology

The training is conducted 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. Each learning point is reinforced with practical examples and exercises.

 Course Contents

How to develop the annual plans?

What is planning?

Why Planning?

Planning in order to achieve superior performance

Planning Strategies.

The Planning Cycle.

Characteristics of a successful plan

How to set the annual operational objectives?

Practical examples and exercises on developing annual plans using MS office templates.

How to prepare the annual budgets?

What is A budget?

Why do we budget?

Best Practice Guidelines for the Budget Process.

Formulating the general assumptions on which the budgets are based.

Incremental budgeting and zero based budgeting

Static versus Flexible Budgets

Rolling budget.

Activity-Based Budgeting.

Stages in the budget process

Characteristics of Successful Budgeting

The Different Budgets:

The Sales Budget

The Production Budget

Direct Labor Budget

Cost of Goods Sold Budget

Selling and marketing budget,

Administrative and general expense budget,

Exploration and development budget

Budgeted income statement.

Capital expenditure (Capex) budgeting.

Cash budget.

Budgeted balance sheet.

Budgeted cash flows statement

The Operating and Financial Budgets.

The Master Budget

Practical examples and exercises on preparing annual budgets using MS office templates

Budgetary Control

Monthly variance analysis

Volume variance

Selling price variance.

Operating expenses (Opex) variances.

Taking corrective actions on a monthly basis using the action tracking worksheet.

Management by exception.

Course Duration: 4 days ( 4  hours per day)