Budgetary and Financial Controls Course
Introduction
Budgetary control is planning, process and making it works and financial controls are the procedures, policies, and means by which an organization monitors and controls the direction, allocation, and usage of its financial resources. Financial controls are policies and procedures designed to prevent or detect accounting errors and fraud. Budgetary and financial controls are critical components of effective financial management within organizations. This comprehensive 10-day course is designed to provide participants with a deep understanding of budgeting principles, financial control techniques, and strategies for effective financial management.
Duration
10 Days
Who Should Attend?
This course is ideal for finance professionals, budget managers, accounting professionals, business managers, and anyone involved in financial planning and control within an organization.
Course Objectives
- To improve Planning, budgeting, financial & physical controlling, Co-ordination, Communication, motivation, performance evaluation, production efficiency and Success of Costing Records among budgeting, financing and cash control team.
- Understand the fundamentals of budgeting and financial controls.
- Learn techniques for creating and managing budgets effectively.
- Explore various financial control methods to mitigate risks and ensure compliance.
- Develop skills to analyze financial performance and make informed decisions.
- Gain insights into strategies for optimizing financial resources and achieving organizational goals.
Course Outline
Module 1: Introduction to Budgeting
- Overview of budgeting process
- Importance of budgeting in financial management
- Types of budgets: Operating budget, Capital budget, Cash budget
- Setting budgetary goals and objectives
Module 2: Planning
- Planning and forecasting
- Building financial forecast Model
Module 3: Financial and Budget analysis
- Budgeting and financial managing Overview
- Designing Program Based Budget
- Budget Calendar
- Preparation of Medium-Term Expenditure
- Framework (MTEF) Process Chart of Accounts & Coding Structure
Module 4: Cash flow and control
- Internal and cash control
- Proper use of receipts
- Cash book registration
- Revenues & payment control and others
Module 5: Budgetary and financial Control tools for Performance Evaluation
- Measuring Program and project Performance.
- Monitoring & Evaluation Budgetary and financial.
- Program Management physically and financially.
- Budget and finance Appropriations & Executions.
Module 6: Budget and financial Reporting
- Performance/physical & Financial Reporting
Module 7; Internal control and Decision Making
- Performance/ physical & Financial controlling and
- Decision Making Process.
Module 8: Financial Control Principles
- Concept of financial control
- Internal control systems
- Financial reporting and analysis
- Auditing and compliance
Module 9: Cost Control Methods
- Cost classification and behavior
- Cost-volume-profit analysis
- Variance analysis
- Cost reduction strategies
Module 10: Risk Management in Financial Controls
- Identifying financial risks
- Risk assessment and mitigation strategies
- Internal controls for risk management
- Role of insurance in risk mitigation
Enroll for this Course
We are proud to offer this course in a variety of training formats to suit your needs.
Benefits of Taking a Course at IRES
LEARN
Our courses are carefully curated to keep you abreast of latest industry trends, technological advancements, and best practices. We employ a variety of teaching methodologies, including hands-on workshops, case studies, and interactive sessions, all aimed at fostering an engaging and effective learning environment. Our expert instructors bring a wealth of knowledge and real-world experience, providing our clients with insights that can be immediately applied in their professional lives.
NETWORK
Our courses serve as a vibrant platform for professionals to connect and engage with a diverse community of peers, industry leaders, and experts. By participating in our programs, you gain access to an invaluable network that spans across various sectors and geographical boundaries. This networking aspect is not just about forming professional relationships; it's about creating a supportive ecosystem where ideas, opportunities, and collaborations can flourish.
GROW
Our courses are designed to challenge and inspire professionals to step out of their comfort zones and explore new horizons. Through a combination of theoretical knowledge and practical application, our programs help professionals refine their existing skills and acquire new ones, making them more versatile and competitive.