Budget is an inherent part of the financial planning process both in the public sector as well as the private sector. In the public sector, the budget affects almost every citizen and forms the basis of a government’s fiscal policy. It is also a crucial document to plan for future development expenditure. Given the size of public sector expenditure, all appointed budget analysts must have the right skills to deal with forthcoming challenges.
Budget analysts at all levels of the government are responsible for determining how to distribute resources effectively among various departments and development programmes. Budget analysts also help measure performance, analyse financial results and help draft budget-related legislation.
By the end of the training program, the trainee requires to pass the exam to get the certificate.

Who Should Attend?

Budgeting and planning personnel
• Revenue Department personnel
• Chief Executives
• Financial Controllers
• Departmental managers
• Internal Auditors
• Data analysts
• Risk Officers

Knowlegde and Benefit:

Determine how a government entity or a company would generate funds and how they would be spent

Collaborate with different divisions and departments to develop the budget of the organization
• Scrutinise budget proposals of the departments to ensure they are complete, accurate and in compliance with local laws, regulations and policies
• Clearly distinguish between revenue and capital items and budget accordingly
• Monitor organizational expenditures, identify areas where the company is overspending and make appropriate recommendations
• Approve within-budget expenditure and forecast future cash requirements
• Compare actual results to budgeted figures at the end of each reporting period, and report on significant variances

Introduction to budgeting and the financial statements
o Planning and budgeting concepts
o Budget methodologies
o Risk, uncertainties and assumptions
o Sensitivity Analysis
• Different approaches to preparing budgets
o Preparation of Master Budget
o Fixed v/s Flexible Budgets
o Quarterly Reviews
o Forward Planning
o Budget/ Actual Comparison
o Zero-based Budgets
• Budget Preparation

Accounting Conventions
o Accounting Policies
o Revenue Recognition
o Cash v/s Accrual Accounting
o International Accounting Standards (IAS)
o International Public Sector Accounting Standards (IPSAS)
o WorldCom / Enron Scandals
• Financial Modelling
o Components of Financial Reports
o Balance Sheet
o Profit & Loss Statement
o Statement of Cash Flow
o Statement of Changes in Equity
o Accompanying Notes to the Accounts
• Controlling and analysing budgets
o Market trends and analysis
o Ratio Analysis
o Vertical Balance Sheet & P&L Statement
o Horizontal Balance Sheet & P&L Statement
o Variance Analysis
o Price Variance
o Quantity Variance
o Mix Variance
• Cost Accounting
o Total Absorption Costing
o Marginal Costing
o Contribution Margin

Break-even Analysis
o Sensitivity Analysis
• Sources of Finance
o Equity and Debt Financing
o Gearing ratios
o Cost of Capital
o Weighted Average Cost of Capital
o Decisions regarding Dividend Payments
• Working Capital Control
o Inventory Control
o Accounts Receivable
o Accounts Payable
o Reconciliation of Sub-ledgers
o Other Current Assets & Current Liabilities
o Tax and Deferred Taxation
• Public Sector Development / Capex
o Capital Investment Appraisal
o Return on Investment
o Payback period
o Net present Value
o Internal Rate of Return
o Public/ Private Partnership projects
• Enterprise Resource Planning (ERP)
o Sales
o Bill of material

Material Management
o Procurement
o Production
o Integration with General Ledger