Budgeting and Budgetary Control (BBC) Programme

VENUE: Mwanza, Tanzania
DATES: 22nd April – 03rd May, 2019 (2 weeks)
FEES: US $ 1,300 only

Statement of Need
One of the cardinal principles of organizational success is the ability to develop appropriate Budgeting and Budgetary Control Systems and empower staff to prepare long term strategic plans, medium term strategic plans and annual operational plans and translate them into annual budgets. Budgeting therefore, involves spelling out the resources needed to operationalize the plans. The resources needed include human capital, technology, plant and machinery, as well as finical resources (required money), hence the budget. In addition, organizations need to control the implementation of the plans by deploying resources provided in the budget, so as to enable the organization to achieve its SMART objectives. The budget provides the targets of operational and financial performance that provide the benchmark of organizational performance; the budget sets the targets to work towards, it provides the common direction for all staff, it motivates all employees to strive to achieve their targets enshrined in the work plan. This programme will take participants through the budgeting process and leave them proficient in the field.

Objectives of the Programme
The key objectives of the programme are to make participants:

• Understand Budgeting and Budgetary Control theory, methods and techniques and be able to correctly apply them in their organizations
• Successfully implement BBC methods or/and Techniques in their areas of command, guided by the Director of Finance or Finance Manager; and
• Monitor performance, produce performance reports, analyses variances, determine the causes of variances and take remedial action as need arises in their respective areas of operations

Subject Areas shall include:

• Introduction to Budgeting and Budgetary Control
• Profit Planning: Long-Range, short term and annual profit planning
• Prerequisites of Budget Plans, and key requirements in the design of budgetary plans and control process
• Budgeting: Nature and purpose of budgeting
• The Master Budget Framework
• Financial Budgets consisting of Cash Budget and the Balance Sheet Budget
• Capital Expenditure Budgets, Research & Development Budgets, and Analysis, evaluation and Interpretation of the Budget Financial Statements

Target Participants
The relevant audience consists of the management and staff involved in the preparation and implementation of annual plans and budgets, monitoring implementation and evaluating actual performance vis-à-vis with the budgets.