Public Sector Budgeting: Preparation, Implementation and Controls

OBJECTIVE:
• Successfully build an integrated planning, budgeting and reporting process
• Understand costs behavior more accurately
• Deliver more timely and useful information to decision-makers
• Understand capital budgeting
• Identify & manage key financial indicators for the business
• Be able to use specific cost analysis and performance measurement techniques
• Be able to understand and implement the Balanced Scorecards
• Be able to interpret the financial impact of strategic directions
• Understand the problems of overheads allocation and how Activity-Based Analysis may aid decision-making and pricing strategies
• Select the performance measurement systems that work
• Think proactively beyond budgeting

CONTENT:
Budgeting & Cost Control in the public sector: with Strategic Planning
• Budgeting and the Management System of Contemporary Organizations
• Strategic Planning, Budgeting and Management Control
• Strategic Management Accounting – setting goal and objectives
• From Strategic to Operating Plans – actions and initiatives
• Measuring and Managing the Performance – KPIs and targets
• Managerial Accountability

Budgeting: Principles and Key Concepts
• Understanding the Context for Budgeting
• The Benefit of Budgeting and its Role for Achieving Organizational Targets
• Principles of Budgeting
• Main Issues with Budget Preparation

Cost Analysis for Budgetary Purposes
• Cost Concepts and Terminology
• Different Costs for Different Purposes
• Fixed vs. Variable Costs: The Cost-Volume-Profit Analysis Model
• Contribution Margin Analysis

Traditional vs. Advanced Techniques in Cost-Control
• Under-costing and Over-costing: Understand Allocation Methods
• How to refine a Costing system?
• Traditional Cost Allocations Systems vs. Activity-Based Costing (ABC)
• Cost Hierarchy & Cost Drivers – Linking Resources, Activities and Management
• Introducing Activity-Based Budgeting (ABB) and Management (ABM)

New Integrated Performance Measurement Systems
• Beyond Budgeting: Integrating Financial and Pre-financial Information
• The Drivers of Value Creation
• The Balanced Scorecard
• Integrated Reporting
• Connectivity Strategic Goals, Objectives, Actions and Results

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH:        2nd – 4th Apr,                    2025      

2ND BATCH:       5th – 8th Aug,                    2025
3RDBATCH:        25th- 28th Nov,                 2025