Introduction to Financial Planning

Learning Outcomes

After completing this course, student will be able to : Explain about budgeting definition, type of budgets, budgetary process, and advantages and disadvantages of budget; Construct budget based on short-term plans and long-term plans so that align with the company’s future direction and achieve expected cost and returns; Conduct reporting, analyzing, and evaluating the budget; Analyze the profitability of the company using break-even and contribution margin analysis; Formulate realistic profit objectives and targets and accomplising them; Construct a formal statement of management’s expectation regarding sales, expenses, volume and other financial transaction; Classify the cost based on their activity; Use variance analysis to evaluate the performance of the company; Develop a sales forecast and based on its magnitude, generating production and manufacturing expense budgets; Prepare, analyze, and control the marketing costs, including selling expenses, advertising and sales promotion, distribution costs, packaging, and travel and entertainment; Prepare budget for research and development cost in order to remain competitive and grow; Prepare general and administrative expenses budget for maximum productivity; Prepare capital expenditure budget to meet organizational long term investment; Outline the budgeting aspects for airlines and hotels; Outline the budgeting aspects for goverment, voluntary hospital, colleges, and professional associations.

Topics

1. What is budgeting?
2. Strategic planning and budgeting
3. Administering budget
4. Breakeven and contribution margin analysis
5. Profit planning
6. Master budget
7. Cost behavior
8. Evaluating performance
9. Manufacturing costs
10. Marketing
11. Research and Development
12. General and administrative costs
13. Capital expenditure
14. Forecasting and planning
15. Moving averages and smoothing techniques
16. Cash budgeting and forecasting cash flow
17. Financial modeling
18. Software packages
19. Capital budgeting
20. Zerobase budgeting
21. Budgeting for service organizations
22. Budgeting for non-profit organizations.