The British Academy for Training and Development offers the course Financial Planning and Analysis: Controlling and Setting Budgets. The key focus of the training created for professionals, however, is to equip managers with skills to handle the financial management competently. Primarily and fundamentally, the course highlights the essentials of financial planning as well as the significance of budgets in the attainment of organisational goals. They would learn techniques in budgeting, devising operating budgets, and capital expenditure budgets as part of the curriculum. The whole course would deal with financial analysis, teaching attendees to appraise the financial performance with key metrics like variance analysis. The key element of the programme is the focus on practical application of financial models and analysis. These are used to assess strategic and operational positions by investigating a wide range of options for reducing cost and thereby creating additional value for companies.

Thereafter, attendees would explore the importance of cost control in budget formulation and ultimately relate budget management with strategic planning. Key tools employed in budget forecasting as well as financial decision-making would be highlighted. Finally, at the end of the course, attendees would be fully trained in creating, developing, and controlling budgets to ensure financial viability as well as support strategic objectives within the organisation.

Objective:

The objective of this course are:

1. Understand principles of financial planning and budget management. 

2. Forecast future needs and establish realistic, attainable budgets. 

3. Develop variance analysis and evidence-based financial decisions. 

4. Understand how to control costs and implement these in the business context. 

5. Learn how to make financial plans aligned with the strategic objectives of the company. 

6. Become fully proficient in financial tools and metrics for better decision making.

Who Should Attend?

This course is ideal for:

1. Finance professionals wishing to improve their ability in budgeting and financial analysis for better organisation. 

2. Managers want to drill down into their financial planning and budget management. 

3. Business Owners and entrepreneurs interested in improving their financial strategy and control in their organisations. 

4. Accounting professionals who seek to gain expertise in financial planning and analysis in order to sustain their organisations. 

5. This course is for aspiring financial analysts, who wish to have an understanding of the concepts and practices of budgeting, forecasting, and cost control.

How will attendees benefit?

By completing this course attendees have following benefit:

1. Enhanced Financial Decision-Making: Enable the attendees to make informed and data-driven financial decisions via the financial analysis, variance analysis, and performance measures to drive the growth and profitability of the business. 

2. Improved Budget Management Skills: Through this programme, attendees will become proficient in creating budgets and managing them, with an understanding of how to allocate resources prudently, forecast future financial needs, and align all activities undertaken in terms of budgeting to organisational goals. This will add to more accurate financial planning with less risk of budget overrun.

3. Better Cost Control: The course would equip the attendees with a practical tool that could be applied to waste reduction, effective spending, and greater operational efficiency within their organisations, resulting in costs saved and improved profitability. 

4. More Strategic Alignment: In understanding how to align the budget and financial planning with the corporate strategy, attendees will be able to contribute better toward their organisation's long-term objectives by ensuring that those financial resources are being directed to support key strategic priorities. 

5. Increased Accuracy in Forecasting: This is the best practice in budget forecasting that attendees will acquire, thus enabling them to more accurately predict financial trends. This helps the organisations plan for future needs in growth, investment, and operational activities.

6. Teaching Through Direct Experience: The course comprises practical exercises of budget creation and variance analysis, alongside other forms of effective financial decision-making, and will, therefore, avail the attendee real-life application of the learning experience. In this way, it gives confidence in the employability of these financial tools.

7. Career Advancement Opportunities: With a comprehensive understanding of financial planning and budget management, as well as cost management, these professionals will have better opportunities to further their careers in finance as financial analyst, finance manager, or CFO.

8. Better Financial Communication: They will learn how to share clear, easy-to-understand financial insights with non-financial employees, thereby enhancing their value within strategic decision-making.

1. Introduction to Financial Planning and Analysis

• Overview of financial planning and its importance in business

• Key concepts in financial planning and analysis (FP&A)

• Relationship between financial planning, budgeting, and strategic goals

2. Setting and Developing Budgets

• Definition and purpose of budgeting

• Different types of budgets: operating budgets, capital expenditure budgets, and cash flow budgets

• Steps involved in budget development and how to set realistic financial targets

3. Budget Forecasting

• Introduction to budget forecasting and its role in planning

• Tools and techniques for accurate financial forecasting

• Methods for predicting future financial needs based on historical data

4. Variance Analysis

• Understanding the concept of variance analysis

• How to compare actual performance with budgeted amounts

• Identifying and analyzing discrepancies (favorable vs. unfavorable variances)

• Corrective actions and adjustments based on variance findings

5. Cost Control Techniques

• The role of cost control in budgeting

• Techniques for managing and reducing costs effectively without compromising performance

• Implementing cost management strategies in different departments

6. Financial Performance Metrics

• Introduction to key financial performance metrics and ratios

• How to use metrics such as profitability ratios, liquidity ratios, and efficiency ratios to assess performance

• Interpreting financial results and making informed decisions

7. Strategic Budget Management

• Aligning budgets with corporate strategy

• The role of budgets in achieving strategic objectives

• Budget adjustments based on changes in business strategy or external factors

8. Practical Applications of Budgeting and Financial Analysis

• Real-world examples and case studies

• Hands-on exercises in budget creation, variance analysis, and cost control

• Tools and software used in budgeting and financial analysis

9. Course Conclusion and Key Takeaways

• Review of key concepts learned throughout the course

• Summary of best practices for budget management and financial planning

• Final assessment and feedback