An Interactive 5-Day Training Course
Setting & Controlling Budgets
Essential Budget Preparation Tools For
Planning and Control
Course Overview
Setting budgets is all about how to plan for the expected and the unexpected.
Controlling budgets is all about how to react and respond appropriately when the unexpected happens.
This GLOMACS Setting & Controlling Budgets training course deals comprehensively with 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.
It clarifies the jargon and methodology, and the links between strategy, budgeting, costing, and performance measurement. The Instructor's own business career experiences and many other real-world business scenarios are shared throughout this stimulating course to illustrate and reinforce the practical application of the tools and techniques and best practices.
This GLOMACS training course will highlight:
- Strategic planning, budget setting, performance measurement, and shareholder wealth maximisation
- 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, and the balanced scorecard
Training Outline
DAY 1: Strategic and Financial Planning
- Financial Accounting and Management Accounting
- The Links between Strategic Planning, Budget Setting, and Performance Measurement
- Planning and Strategic Management
- Mission, Vision, and Objectives
- The Planning Process
- External Environment Analysis, Internal Resources Analysis, SWOT and PESTEL
- Shareholder Wealth Maximisation, value Creation and Financial Strategy
- Financial Planning and Modelling, and Long-term and Short-term Financing
DAY 2: Cost Analysis for Budgeting
- What is Costing?
- Cost Behaviour – fixed costs and variable costs
- Contribution, Cost / Volume / Profit (CVP) Analysis and break-even models
- Traceable Costs and Non-traceable Cost Allocation
- Product Costs and Period Costs – product costing for inventory valuation and profit ascertainment
- Direct costs, Indirect costs, Absorption Costing and Marginal costing
- Product Costing for Budget Setting, Budgetary Control and Performance Measurement
- Refinement of the Costing System and Activity-Based Costing (ABC)
DAY 3: The Framework for Budgeting
- What is a Budget – and Why Budget?
- The Budgeting Framework and the various Types of Budgets: top down; bottom up; incremental; zero-based; activity-based
- The Budget Process
- Qualitative and Quantitative Techniques of Forecasting Sales and Costs, and Sales Pricing
- Budgeting for Labour Costs and Depreciation
- The Departmental Budget
- Preparation of the Master Budget and the Cash Forecast / Budget
- The Human Side and the Behavioural Aspects of Budgeting
DAY 4: Activity-Based Budgeting (ABB), Capital Budgeting, Budgetary Control and Variance Analysis
- How the Budget is controlled in your Organisation
- Activity-Based Budgeting (ABB)
- Budgeting for Capital Projects
- Discounted Cash Flow (DCF) investment appraisal methods of Net Present Value (NPV) and Internal Rate of Return
- Capital Rationing and the Profitability Index (PI)
- Budgetary Control Systems and Responsibility Accounting
- Standard Costing for Budgeting and Budgetary Control
- Fixed Budgets, Flexed Budgets, Variance Analysis and the Reasons for Variances
DAY 5: Beyond Budgeting – Broadening Performance Measurement Systems
- Integrating Continuous Improvement into the Budget Process
- Advantages and Disadvantages of Budgeting
- How to Improve the Budget Process in Your Organisation
- The Conflict between Performance Improvement and the Costing System
- Lean Thinking and Performance Improvement
- What next – beyond the Budget?
- The Balanced Scorecard – linking strategy with budgeting and with performance measurement
- Developing and Adapting the Balanced Scorecard: Financial Perspective; Customer Perspective; Internal Business Process Perspective; Learning and Growth Perspective
Certificates
- On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
- Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Accreditation
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
Providers and Associations
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
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