Introduction
This 10-day training program is designed to provide business professionals with a comprehensive understanding of financial management, planning, control, and payroll management. It focuses on equipping participants with the skills needed to effectively plan for the future, apply financial techniques for budgeting and control, and improve performance using financial analysis tools. In addition, the program includes a deep dive into payroll management, covering key topics such as tax calculations, compliance, and reporting. Participants will learn how to link planning, budgeting, costing, and performance measurement, and master the skills necessary for budgetary and cost control, while also integrating payroll processes into broader financial operations. By the end of the program, delegates will have a solid foundation in both strategic financial planning and the operational aspects of payroll management.
Objectives
The program aims to help participants answer critical financial questions such as:
- Which financial variables, relationships, and trends are most helpful in problem analysis?
- How reliable is financial data, and how does uncertainty impact decisions?
- What is the importance of cash flow versus accounting profit in financial analysis?
- How do limitations in financial data and financial statements affect analysis?
- What is the role of qualitative judgment in decision-making?
Focus will also be placed on:
- Strategic planning and budgeting
- Payroll management, including tax calculations, compliance, and reporting
- Building a performance measurement system
- Costing and budgeting terminology in business
- Performing and interpreting variance analysis
Outline
Day 1:
- Introduction to Financial Decision-Making
- Key financial analysis techniques
- Corporate and shareholder value
- Business benchmarking and competitor analysis
- Corporate governance principles
- Financial statements and their role in decision-making
Day 2:
- Assessing Business Performance
- Ratio analysis for business performance
- Perspective of management, owners, and lenders
- Dupont system and financial performance integration
- Economic value added (EVA) and predicting financial distress
Day 3:
- Financial Projections and Budgets
- Interrelationship of financial projections
- Creating operating budgets and standard costing
- Cash flow forecasting and variance analysis
- Financial growth plans and leverage
Day 4:
- Investment Decisions and Financial Tools
- Net present value (NPV) and internal rate of return (IRR)
- Strategic investment analysis perspectives
- Sensitivity and scenario analysis in investment decisions
Day 5:
- Valuation and Business Performance
- Shareholder value management
- Valuation methods in business restructuring
- Business acquisitions and buyouts
- Financial strategies in mergers and acquisitions
Day 6:
- Strategic and Financial Planning
- Strategic vs. managerial accounting
- The link between strategy, budgeting, costing, and performance measurement
- SWOT and PESTEL analysis
- Drivers of value creation in businesses
Day 7:
- Budgeting Framework and Process
- Types of budgets and their importance
- Budget creation and the human side of budgeting
- Sales forecasting and budgeting schedules
- Top-down vs. bottom-up budgeting
Day 8:
- Cost Analysis and Budgeting
- Defining and analyzing costs
- Fixed vs. variable costs, breakeven models
- Contribution margin and costing methods
- Traditional costing vs. activity-based costing
Day 9:
- Payroll Management and Control
- Payroll management process and components
- Payroll tax calculation and compliance
- Payroll reporting and its integration with financial systems
- Variance analysis and payroll budgeting
Day 10:
- Beyond Budgeting and Performance Measurement
- The limitations of traditional budgeting systems
- Balanced Scorecard approach to performance measurement
- Developing a performance management system
- Integrating payroll data into performance measurement
