Module 1: Introduction to Financial Planning

·       The importance and benefits of financial planning

·       The financial planning process: setting goals, gathering data, developing plans, monitoring

·       Short-term vs. long-term financial planning

·       Linking financial planning to strategic planning

·       Key elements of a financial plan

·       Practical session: Identifying the key components of a financial plan for a hypothetical organization.

Module 2: Setting Financial Goals and Objectives

·       Understanding organizational goals and translating them into financial objectives

·       Setting SMART (Specific, Measurable, Achievable, Relevant, Time-bound) financial goals

·       Aligning financial goals with stakeholder expectations

·       Prioritizing financial objectives

·       Communicating financial goals effectively

·       Practical session: Setting SMART financial goals for a specific department or project.

Module 3: Revenue and Expense Forecasting

·       Principles of forecasting

·       Qualitative forecasting methods (e.g., market research, expert opinions)

·       Quantitative forecasting methods (e.g., trend analysis, regression analysis)

·       Forecasting sales revenue, cost of goods sold, and operating expenses

·       Incorporating economic and industry factors into forecasts

·       Practical session: Developing a sales revenue forecast using different methods.

Module 4: Preparing Operating Budgets

·       The master budget and its components

·       Sales budget

·       Production budget

·       Direct materials budget

·       Direct labor budget

·       Overhead budget

·       Practical session: Creating an operating budget for a department, including sales and production budgets.

Module 5: Preparing Capital and Cash Budgets

·       Capital expenditure budgeting process

·       Evaluating capital investment proposals

·       Cash budget: cash inflows and outflows

·       Preparing a cash flow forecast

·       Managing cash surpluses and deficits

·       Practical session: Developing a capital expenditure budget and a cash budget.

Module 6: Budget Control and Variance Analysis

·       The importance of budget control

·       Comparing actual results with budgeted figures

·       Calculating and analyzing variances (favorable and unfavorable)

·       Identifying the causes of variances

·       Taking corrective actions based on variance analysis

·       Practical session: Analyzing budget variances and recommending corrective actions.

Module 7: Financial Performance Reporting

·       Preparing income statements, balance sheets, and cash flow statements for performance reporting

·       Analyzing key financial ratios and indicators

·       Comparing performance against budgets and prior periods

·       Communicating financial performance effectively to stakeholders

·       Using performance reports for decision-making

·       Practical session: Preparing a basic financial performance report and interpreting key ratios.

Module 8: Strategic Financial Planning

·       Linking financial planning to long-term strategic goals

·       Developing long-term financial forecasts

·       Scenario planning and sensitivity analysis

·       Financial modeling for strategic decision-making

·       Mergers and acquisitions financial planning

·       Practical session: Using spreadsheet software to perform scenario analysis on a long-term financial plan.

Module 9: Financial Planning Software and Tools

·       Overview of different financial planning software and tools

·       Using spreadsheet software (e.g., Excel) for budgeting and forecasting

·       Introduction to specialized budgeting and planning software

·       Data integration and automation in financial planning

·       Selecting and implementing financial planning software

·       Practical session: Using spreadsheet software to create a basic financial model for forecasting.

Module 10: Behavioral Aspects of Budgeting

·       The human element in budgeting

·       Participative budgeting and its benefits

·       Potential dysfunctions of budgeting

·       Creating a positive budgeting environment

·       Linking budgets to performance evaluation and rewards

·       Practical session: Discussing the behavioral implications of different budgeting approaches.

Requirements:

·       Participants should be reasonably proficient in English.

·       Applicants must live up to Armstrong Global Institute admission criteria.

Terms and Conditions

1. Discounts: Organizations sponsoring Four Participants will have the 5th attend Free

2. What is catered for by the Course Fees: Fees cater for all requirements for the training – Learning materials, Lunches, Teas, Snacks and Certification. All participants will additionally cater for their travel and accommodation expenses, visa application, insurance, and other personal expenses.

3. Certificate Awarded: Participants are awarded Certificates of Participation at the end of the training.

4. The program content shown here is for guidance purposes only. Our continuous course improvement process may lead to changes in topics and course structure.

5. Approval of Course: Our Programs are NITA Approved. Participating organizations can therefore claim reimbursement on fees paid in accordance with NITA Rules.

Booking for Training

Simply send an email to the Training Officer on training@armstrongglobalinstitute.com and we will send you a registration form. We advise you to book early to avoid missing a seat to this training.

Or call us on +254720272325 / +254725012095 / +254724452588

Payment Options

We provide 3 payment options, choose one for your convenience, and kindly make payments at least 5 days before the Training start date to reserve your seat:

1. Groups of 5 People and Above – Cheque Payments to: Armstrong Global Training & Development Center Limited should be paid in advance, 5 days to the training.

2. Invoice: We can send a bill directly to you or your company.

3. Deposit directly into Bank Account (Account details provided upon request)

Cancellation Policy

1. Payment for all courses includes a registration fee, which is non-refundable, and equals 15% of the total sum of the course fee.

2. Participants may cancel attendance 14 days or more prior to the training commencement date.

3. No refunds will be made 14 days or less before the training commencement date. However, participants who are unable to attend may opt to attend a similar training course at a later date or send a substitute participant provided the participation criteria have been met.

Tailor Made Courses

This training course can also be customized for your institution upon request for a minimum of 5 participants. You can have it conducted at our Training Centre or at a convenient location. For further inquiries, please contact us on Tel: +254720272325 / +254725012095 / +254724452588 or Email training@armstrongglobalinstitute.com

Accommodation and Airport Transfer

Accommodation and Airport Transfer is arranged upon request and at extra cost. For reservations contact the Training Officer on Email: training@armstrongglobalinstitute.com or on Tel: +254720272325 / +254725012095 / +254724452588