Budget Preparation and Financial reports
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Budget Preparation and Financial reports Course
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 them 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.
Course 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 analyze 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?
The 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, and 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 Outlines:
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.
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
- Behavioral Implications of Budgeting
- Case Discussion and Examples
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
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
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
