Budget and Financial Management

Business Skills Courses

You will learn to:

By the end of the course, you will be able to:

Course Synopsis

This course covers an introduction of standard financial tools. Participants explore how to assess financial status and to make sound business decisions using budgeting and financial estimating methods and tools. Specifically, participants will address topics such as creating a budget, negotiating for funding, managing and reporting variance, and making decisions based on a budget. Practical exercises allow participants to familiarize themselves with standard financial documents and to calculate common values. Review and discuss commonly used financial metrics to not only understand the numbers, but to explore the not-so-obvious financial impacts of typical operating decisions and actions. This course also examines global business trends that are affecting the business environment and how to consider them when developing effective business strategies.

Course Topics

  • Welcome
  • Course objectives, logistics, and scope
  • Mindset Model
Strategic Focus and Drivers
  • Impacts of budgeting, accounting, and financial techniques on professionals
  • SWOT Analysis
  • Business trends
  • Business recombination
  • Asset management
  • Outsourcing
  • Enforcing accountability
    • Sarbanes-Oxley (SOX) Act
    • Foreign Corrupt Practices Act (FCPA)
  • Balanced scorecard
Managing Stakeholder Expectations
  • Stakeholder identification
  • Stakeholder analysis
  • Using stakeholder information
  • Go/no-go decisions
  • Sourcing decisions
  • "Make or buy" decisions
Accounting for Results: Basics of Finance
  • Cash flow cycle
  • Types of accounting
  • Types of costs
  • Types of profit Financial statements and measures of profitability
  • Interpreting income statements
  • Interpreting balance sheets
  • Interpreting cash flow statements
Planning: Budgeting Skills
  • Budget cycles
  • Business Budgeting Model — planning, approving, managing, and reporting
  • Typical budget elements
  • Budget planning process
    • Gather information
    • Prioritize elements
    • Develop initial estimates (Forecasting, Top-Down, Bottom-Up, Programme Evaluation and Review Technique,Three-point Average, Cost-Benefit
    • Analysis, Return on investment, Payback period)
    • Compile and total estimates
    • Refine budget and perform trade-offs
    • Finalize initial budget for approval  
Approving: Presenting the Budget
  • Communication Model
  • Communication Planning Process
  • Structuring a budget presentation with the TREOA™  (Topic, Recommendation, Evidence, Outcome, Action method
  • Budget presentation tips
  • Competitive and collaborative budget negotiation
Managing and Reporting: Improving Financial Results
  • Managing the budget
  • Identifying and analysing variances
  • Earned value technique
  • Taking corrective action
  • Reporting budget status to stakeholders
  • Budget best practices
Wrap-Up Revisit course objectives

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Open enrolment course information

Professional Development Units (PDUs): 22.5

Technical Project Management (PDUs): 17.50

Leadership (PDUs): 0.00

Strategic & Business Management (PDUs): 5.00

Duration: 3 days

Course Dates (click on a date to register) :

Expression of Interest
No dates for this course are currently scheduled.
Please contact us at +61 2 8999 9162 or email infoau@strategyex.com for more information or to register your interest.

This course is available as an in-house corporate training. To find out more about corporate training for your organisation, contact us.