FinanceXplained
ITQ220.jpg Budgeting for Performance
Upcoming dates in English

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Course Highlight

Get answers to the questions you have always wanted to ask about planning, budget setting, and budgetary control, in plain language that is easy to understand.

It covers in detail how the tools and techniques of successful budgeting and budgetary control are applied within the overall planning framework to ensure that organisational goals are met.

You will learn about:

  • Strategic planning, budget setting, performance measurement
  • Full costing, marginal costing, and activity-based costing (ABC)
  • Operating budgets, cash budgets, capital budgets, and master budgets
  • Fixed budgets, flexed budgets, and variance analysis
  • Continuous performance improvement
  • Learn to think strategically and prepare successful financial plans and budgets and determine the financing requirements of the organisation
  • Comparing fixed and variable costs, direct and indirect costs, and the use of contribution accounting. 
  • Use the appropriate techniques of forecasting sales and costs, and sales pricing, and preparation of departmental budgets, the master budget, and cash budgets.

 

Recommend background

This course provides training for budgeting managers and anyone who contributes or needs to evaluate budgets and forecasts.

What You Will Learn

By the end of this one-day training course you will have understood the role and principles of budgeting. Have confidence in using budgeting tools and techniques and have learned how to create budgets, understand budgeting terminology and learn how to analyse budgets.

Course format

This course will be taught using a combination of formal instructions, combined with practical and interactive exercises and case studies used to reinforce the concepts taught in each section of the course. Case studies include critique of conventional budgeting techniques, real-world examples of problems and best practice guidelines.

Practice-based learning and critical engagement is a key theme through all our courses allowing delegates to acquire the needed skills and techniques to be applied as soon as they are learned and developed.

Syllabus
Day 1:  

  Introduction

  • Exploring the role of budgeting in planning
  • The decision making
  • The resource allocation
  • The controlling performance

 

  The key budgets

  • The sales budget and income budget
  • The production budget
  • Capital expenditure budget
  • The master budget

 

  Budgets as planning and control tool

  • Budgeting and controlling
  • The functions and benefits of budgets
  • Criticism of budgeting
  • Budgets and planning
  • Limiting factors
  • The cycle of planning
  • Procedures and structures

 

  Budget methods

  • Budgetary methods
  • Budgets and people
  • planning versus reality
  • Flexible budgeting

 

  Variance analysis

  • Types of standards
  • Calculating variances
  • Advantage and disadvantage of variance analysis

 

  From costing to strategising

  • Management accounting
  • Costing tools

 

  Full costing

  • Direct and indirect costs
  • Charging costs to more than one output cost determination.

 

  Contribution costing

  • Fixed and variable Costs
  • Making a contribution
  • Contribution to sales ratio in decision making
  • Dealing with contribution

 

  Break even analysis

  • Break even analysis
  • Beyond the break-even point
  • Charting and the margin of safety
  • Stepped costs
  • Break- even assumptions and limitations.

 

  Making financial decisions

  • Relevant and non-relevant costs
  • The internal and external dilemma
  • Costing in pricing decisions
  • Cost-plus pricing and rate of return pricing.

 

  Activity Based Costing

  •  The challenge of charging overhead costs to products and services.

 

 

 

Price and Registration Dates
Course Fee: € 840 (VAT exclusive ) ** Prices and conditions might slightly change depending on country **
Early booking discount: 
A 10% discount is available if you register 2 month(s) before the course start date.

Belgium Subsidies: Flanders KMO-portefeuille: DV.O225876 and the Brussels Capital Region.





Course Lecturers
Kris Blommaert, MBA

Kris Blommaert has over 20 years of international experience in both finance and general management for local and European based organisations and businesses. He has been an associate lecturer at a triple accredited global business school for 10 years at MBA level. He has lectured "Managing Performance and Change" and "Management Perspectives and Practice" in Belgium, Switzerland and France.  


Maureen Whitehead-Lausman, MBA

19 years associate lecturer in Financial Strategy and Corporate Strategy for a triple accredited global business school. 20 years’ experience developing and delivering training programs for large and medium sized companies including in Germany, China, USA, Singapore, Ethiopia, South Africa, Russia and Romania. Corporate finance, value based management and finance for non-financial managers at middle and senior management level are a particular interest.  


Kris De Clercq, MBA

Kris has lectured finance to managers for more than 17 years in Europe and Eastern Europe. His teaching as an associate for a UK based global business school included “Issues in International Finance and Investments”,” Corporate Finance” and “Issues in IFRS”. His industry experience is over 20 years working for asset managers, investment banks, global custodians in the UK, Luxembourg and Belgium. He received a universities award for innovation in finance teaching and learning.  


Mag. Johannes Hofinger, MBA, FRM

Johannes Hofinger is specialized in Risk Management, Basel III, IFRS and regulatory reporting. His professional skills are reinforced by strong academic roots. He lectures for global business schools in corporate finance, managerial accounting and financial reporting. The main roles undertaken are lecturing, consulting and project management.  


Our International Experience
Participant feedback

A course with 10 participants is very good to favour the interactivity. Thanks for the perfect course content and lecture.

Very good course, teacher, and approach. Material available on-line prior the course + request to the participants about their expectations from the course.

A pleasant and knowledgeable instructor with a lot of interaction among participants.

An excellent course for people like myself.

Congratulations! Very well done. Nothing more to add.

I really appreciated the empathy and skills of the lecturer Bruno Bosch. Also, the size of the group (7 persons) was perfect to have the necessary interactivity throughout the course.

I strongly recommended this training to my colleagues as I found it very useful.

I think this was one of the best course I've ever attended. The trainer, Mrs Maureen, was extremely pedagogic and the structure of the course was very well planned with just the right mixture of theory versus practical examples and exercises.

It was a very enjoyable course. The group was small which made it easier to be 100% involved.  The exercises and case study were absolutely great and necessary to put the theory in practice. A very knowledgeable teacher.

It was nice to have a lecturer with profound knowledge on the topic so that the level of discussion could go further than the simple basics of valuation.

Lecturer had good understanding of the subject and good understanding of practical application.

Perfect for me. Exactly what I was looking for.

Thank you for the training, which was very clear and met my needs.

The course absolutely answered my expectations and needs.

The lecturer is a knowledgeable person with real market experience which is a plus.

The lecturer is excellent. She explained clear and control good interaction with students.

The training format and takeaways corresponds to what I expected. Thanks for the good preparation

Theoretical explanations good and with good interaction with audience.

There were lots of real life examples and relation to peoples own industries.

This was an excellent course and Kris made it very interesting and useful. He is highly knowledgeable, skilled and open to suggestions.

Thumbs up Maureen!

Very good and interesting training. One of the best I ever had.

 

Companies who attended our courses

 

 
AG Insurance
Allianz Benelux
Argenta NV
AXA Belgium
Baloise Insurance
Banca Monte Paschi Belgio S.A.
Bank De Groof
Banking Association (Kosovo)
Belfius Investment Partners
BNP Paribas Fortis
Bpost Bank
Buy Way
CBC Bank
Cegeka
Celio Finance SPRL
Credendo
Delen Private Bank
Delta Lloyd Life
Deutsche Bank AG
DKV Belgium
Ethias SA
Euler Hermes Services
Euroclear Bank SA/NV
Euroclear Investments
Europ Assistance
European Investment Bank - EIB (Luxembourg)
European Union - EDFIMC / ElectriFI
Flanders Investment & Trade
Gras Savoye Belgium
Incofin Investment Management
ING Bank België
KBC Bank
Mastercard
Ministry of European Integration (Kosovo)
National Bank of Belgium
NN Insurance Belgium
Petercam
Record Bank
Société Générale Private Banking
SWIFT
The Royal Bank of Scotland (RBS)
Triodos Bank
VGD International -Audit & Tax
Wolters Kluwer Financial Services
Zurich Insurance plc, Belgium branch
Vanbreda International
 
 
 
Afton Chemical SPRL
Air Liquide
Allnex Belgium SA/NV
ANL Plastics
Ansell
ARC EUROPE SA
Arcelor Mittal ( Belgium & Luxembourg)
Axalta Coating Systems 
BASF Antwerpen
BASF Belgium Coordination Center
Beaulieu International Group
Bekaert
Borealis Polymers NV
Bridgestone Europe SA
CNH Industrial Belgium NV
Cofely Fabricom
Cytec Belgium
DOMO Chemicals (Germany)
Donaldson
Dow Corning
Electrolux Appliances AB - EMA- EMEA (SEE)
Engineered Pressure Systems International
European Owens Corning Fiberglas
Fost Plus
GDF Suez
Griffith Foods
Hamon & Cie
Heraeus Electro-Nite International NV
Jacobs Belgium
KODAK SA/NV
Milliken Europe
Niko Group
NXP Semiconductors - Prodis  (Netherlands)
SOLVAY
SPX Cooling Technologies
Synventive Molding Solutions (Germany)
TERUMO EUROPE
Tessenderlo
Vinçotte International
VPK Packaging Group NV
WABCO
Yara Belgium NV
 
 
 
 
 
Antwerp World Diamond Centre
AVEVE Biochem NV
Carrefour Belgium
Delhaize Corporate Group
Godiva
IKEA 
 
Abbott Logistics B.V. (Netherlands)
AbbVie (Canada)
Agfa HealthCare NV
Alcon
Alcon-Couvreur
Amplifon
AZ Sint-Blasius
Baxter International (Austria)
Catalent Pharma Solutions
CinnaGen (Tehran)
Datwyler Pharma Packaging International
Groep OZ ESV
Hologic
Landelijke Christelijke mutualiteit (LCM)
Mutualités Libres: MLOZ
Novartis Pharma
SA Bristol- Myers Squibb Belgium NV
Stryker (Netherlands)
Terumo BCT Europe NV
UCB
Zorgbedrijf Antwerpen
 
 
 
AW Europe
Belgacom
Belgian Nuclear Research Centre (SCK-CEN)
CISCO
Corelio Printing
De Persgroep Publishing nv
EDF Luminus
Elia System Operator
Engie Electrabel NV/SA
Eni Gas & power
Fluxys Belgium
INFRABEL
Itineris NV
KEYRUS
M-Team
NRB
ORANGE
Proximus
Siemens
Telenet
 
 
Agentschap Innoveren en Ondernemen
Europees Parlement
Ministry of European Integration
National Agency for Protection of Personal Data
Nationale Loterij
SD Diensten NV (SD Worx)
SESAR Joint Undertaking
Stad Antwerpen
Stadsbestuur Harelbeke
Syntra Brussel
UGent - FBW
Vrije Universiteit Brussel (VUB)
 
 
 
Acturus sprl
ARC Europe
BDO 
BIA Africa
Bia Overseas
Brooser BE Operations 
Capgemini
Cipal Schaubroeck
Compass-Group
Computacenter
Computer Task Group
Deloitte Accountancy
Egemin International
Enhesa International
FIS (former Clear2Pay)
Interel Group
K&L Gates
Matexi NV
Minds&More
Pricewaterhouse Coopers
PwC Tax Consultants
Securex
Toreon
Vinçotte International sa
 
 
 
Alcopa
Alstom Belgium
ARC Europe 
Brussels Airport Company
De Lijn
D'Ieteren Auto
EUROCONTROL 
Gemeentelijk Havenbedrijf Antwerpen
Globachem nv
GSC Greensea Chartering 
HONDA Motor Logistics
JBT
Neovia Logistics
NMBS
PSA Antwerp nv
Retail & Wholesale
Seatrade Reefer Chartering
Thalys International
Trimble T&L
Volkswagen Group Services
Wallenius Wilhelmsen Logistics Zeebrugge NV
Westlandia
Witzenmann Benelux nv
 
 
 
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