The “Advanced Concepts in Result-based Financial Management and Budgeting for Managers” course provides the basic grounding in Result-based financial management, policies, strategies, and managerial decisions as they relate to an organization’s financial well-being. The course explains and analyzes financial concepts such as capital structure, capital investment decisions, financial ownership, and conflicts. Other financial concepts include dividends and repurchase issues, mergers, acquisitions, divestitures, financial distress, liquidation and resolution, risk management, economic rationalization, and organization architecture. The issue of the current global financial crisis as it relates to the developing world will also be analyzed.
The course also outlines the similarities and differences between the financial management systems in the private and public sectors and as well as between the developed and the developing economic systems. In this course, participants will learn how to develop and administer a budget that greatly enhances the performance and results of their departments or organizations. Finally, the course presents basic financial management concepts and the principles on how government funds are established, accounted for, reconciled, and reported on. The new approach learned in this course will also help the participants to consistently meet and exceed their financial expectations and goals.
Course Learning Objectives:
1. To enable participants to gain the latest understanding of financial management and the elements of managerial finance.
2. To introduce the participants to the measuring activities that drive future financial performance and the rules that shape financial statements and taxes.
3. To introduce the participants to finance operations and growth at different stages, and money and other capital markets.
4. To understand the practical tools for management decisions and measuring performance.
The “Advanced Concepts in Financial Management and Budgeting for Managers” course has some of the following key areas of learning for I and 2 weeks organized into the following modules:
•Schedule of Activities
•Dos & Don’ts Rules and Regulations
Overview and expectations of the course
1.Learning objectives of financial management
2.Definitions of key concepts
3.Three Decision areas in finance
4.The scope of financial management
5.Sources of funds
8.Working capital management
10.Risk and financial management
11.Challenges in financial management
Definition of Key Concepts
•The basic concepts in financial management
•Government financial cycle
•Investment fund management
•Accounting and reporting
•Capital control and structuring
•Results-based financial management
The 3 Primary Decisions Areas of Finance
Scope of Financial Management
•Estimating financial requirement
•Money and capital markets
•Deciding capital structure
•Selecting sources of finance
•Ensure proper cash management
•Implementing financial control
•Proper utilization of surpluses
Sources of Funds
•Government Financial cycle
•Government revenue sources
•Types of taxes
Three Key Financial statements
•Cash flow Statement
•Interpreting and understanding financial statements
•Management accounting reports
•Management of cash
•Internal control system
•Elements of financial forecasting
•Budgeting control and standard costing
•Dividends and repurchase issues
•Mergers, acquisitions, and divestiture
•Financial distress and, liquidation and resolution
•How to handle common cost variations with confidence and skill
•Fraud detection and prevention
•Timely financial reporting
African Stock Markets
•Infrequent trading shares
•Limited access to reliable information technology
•Lack of liquidity
•Lack of public confidence in the integrity of stock exchanges
•High levels of risk
•The small size of African Stock markets
•Lack of regional integration
•What is a budget?
•Basic budgeting methods
•Fundamentals of financial planning and budgeting
•Basic functions of budgeting
•Expense and revenue budgets
•Types of budgeting
•Recurrent and capital expenses
•Financial manager and the budgetary process
•Recurrent and capital budgeting
•Best practices in budgeting and managing corporate funds
•Strategic planning and budgeting
•How to spot budget troubles early before a crisis develops
•Limitations of budgeting
Risk and Financial Management
•Dealing with Risks
•Risk management and economic rationalization and organizational architecture
Challenges in Financial Management
•Financial decision-making process
•Problems of budgeting
•Problems of revenue
•Human elements problems
•Transparency and accountability
•Site visits Case studies
At the end of the course, participants will be able to:
1. Demonstrate the ability to apply their financial knowledge in a business setting.
2. Explain why the financial statement is important to the decision-making process.
3. Distinguish among balance sheet, income statement, and cash flow statement.
4. Demonstrate how to use financial statements to enhance financial analysis.
5. Define and understand the balance sheet and income statement analysis.
6.Know how to start-up financing, financial growth, and other forms of external financing.
7. Demonstrate and explain the merging of assets and financing; and the life-circle view of financing.
8. Explain the money and capital markets securities.
9. Explain and analyze the cost-benefit analysis, Accounting Return on Investment, estimating no quantifiable benefits and costs.
10.Know the reporting of returns on capital.
The course is delivered in a workshop setting facilitated by seasoned professional facilitators with practical experience. Active participation is required and the key to the success of the workshops. Other methods used in this course include case studies and problem-solving exercises. Assessment of participant’s performance will be measured through effective class participation, group presentation, group project, and class attendance. This course combines presentations, lectures, class discussions, group presentations, and problem-solving exercises.
Who should attend?
The course should prove valuable to all directors and managers who manage funds in their department or organization – financial managers, controllers, auditors, bankers, department heads, and managers.
(a)Stamford, CT, USA
(b)New York City, USA
(c)Washington, DC, USA
(d) Toronto, Canada
(e) Lagos, Nigeria
(f) Nairobi, Kenya
(g) Dubai, UAE
Jan 6-17; Apr 20-30; Jun 15-26; Aug 17-28; Oct 14-25, 2019; Oct 19-30, 2020; Dec 2-13, 2019.; Dec 14-25, 2022.
Course materials include PowerPoint presentation slides, carefully selected reading materials, exercises, case studies, reading references, and a brand new laptop computer (for 2-week training only).
The course fee is $4,950 for 2 weeks. The course fee covers the following: instruction, course materials, administration expenses, field trips, cultural programs, and miscellaneous program-related expenses.
How to Register
To receive a letter of invitation and supporting documents, you must complete and forward the registration form to the training director as soon as possible. To participate in this course, the applicant must:
- Send a completed application form
- Have a bachelor’s degree/or have relevant work experience at the senior management level
- Be nominated by the head of his/her department
- Be a senior member of the department/organization
- Demonstrate a devoted interest in the course
- Have proof of English proficiency
- Demonstrate proof of financial sponsorship of the course.
For more information, please contact:
Center for Executive Training and International Development
295 Madison Avenue
New York, NY 10017, USA
Phone: +917 753 7225, +602 684 3228