Finance Training. Budgeting and Forecasting for the Public Sector

Transcription

1 Train your team and gain huge savings - see back page for details Finance Training Seminar 1: 19th and 20th July 2010, Duxton Hotel, Wellington Seminar 2: 3rd and 4th August 2010, Mercure Hotel, Auckland Seminar 3: 16th and 17th August 2010, Mercure Hotel, Auckland 26th and 27th August 2010, Duxton Hotel, Wellington International Trainer: Expert Trainer: Aubrey Joachim Kevin Lee Supported by: Internet register@conferenz.co.nz

2 Seminar 1: 19th and 20th July 2010, Duxton Hotel, Wellington Understanding strategic planning Planning in the Public Sector Strategic planning models and frameworks Translating strategic plans into business plans suitable What is the relationship between strategic plans and financial plans? Strategic planning processes within public sector organisations Linking organisational strategy with agency vision and mission Are there gaps in your organisations strategy? Aligning your departments strategic plan with the agencies (and Government) policy and plans Identifying and managing the organisations strategic risks Communicating strategy to diverse units across the organisation Developing the financial plan Highlighting the limitations of traditional budgeting processes in organisations Integrating budgeting and planning to drive resource allocations Involving operational managers and business unit heads in the budgeting process Communicating the budgeting process across the organisation Assessing whether traditional budgets support the current business environment Leading edge budgeting tools and techniques for public servants What are the current leading edge budgeting methodologies? Implementing best practice financial management processes Beyond Budgeting concepts applied to public sector organisations Activity-based budgeting & Zero-based budgeting Priority-based budgeting Trending and benchmarking Rolling forecasts in the public sector context Core concepts of rolling forecasts Why move from budgeting to rolling forecasting? Setting targets and measuring Evaluating forecasting options Designing and preparing rolling forecasts Linking activity based budgeting to rolling forecasts Linking rolling forecasts with strategic planning Evaluating the software solutions that support rolling forecast Tools for effective management in the public sector Linking management to departmental and the Government s strategy Integrating strategy, financial plans and indicators Highlighting factors that influence management Developing effective management systems for your department Considering alternative frameworks for measurement and improvements Performance management and reporting What are relevant Key Performance Indicators (KPI s) and drivers? How does management reporting influence? Introducing strategic scorecards Case Study: Putting it all together Aubrey will work through an implementation linking planning budgeting and forecasting in a Public Sector Organisation International Trainer: Aubrey Joachim FCMA Global Vice President, Chartered Institute of Management Accountants, (CIMA) Principal, Leading Edge Change Aubrey Joachim is a Fellow of the Chartered Institute of Management Accountants (CIMA), London and also an MBA. He is the Global Vice President of CIMA as of June He counts over 30 years of financial and management accounting experience with global conglomerates Unilever of the UK, McDermott International Inc, the US Company involved in the oil and gas industry and a very large organisation in the utility sector. Aubrey also has experience with medium sized manufacturing organisations. He has worked in Sri Lanka, the Middle East, London and Singapore prior to migrating to Australia in This global exposure has provided him with insights into cross-cultural issues facing organisations. He was formerly the Financial Manager of the Asset Management Division of Sydney Water for eleven years. Aubrey s experience includes all aspects of financial accounting, management accounting and financial management. He has also been involved in implementing leading edge corporate Enterprise Resource Planning (ERP) systems. He now focuses on Strategic Management Accounting and sees this as the area that finance professionals are most able to add value to organisations. Aubrey provides valuable insights into the changing role of the finance function where finance professionals are becoming true business partners. Aubrey has implemented a number of leading edge management accounting techniques such as activity based costing / management, beyond budgeting and rolling forecast processes as well as management systems within the framework of organisations strategic and business planning processes. He is also involved in areas identifying opportunities for cost reduction within organisations. Aubrey has recently set up a boutique consulting firm, Leading Edge Change and is in demand globally as an expert commentator and trainer on a variety of management accounting related topics. Train your team and gain huge savings train 2 and save $500 * train 3 and save $1000 * For groups of 4 or more contact mike@conferenz.co.nz or phone to discuss group discounts and in-house training options. Bookings must be from the same organisation and booked at the same time.

3 Seminar 2: 3rd and 4th August 2010, Mercure Hotel, Auckland Course times: 9:00am - 5:00pm Refreshment breaks and lunch are included Introducing strategic planning Strategic planning in organisations Strategic planning models & frameworks From strategic plan to business plan Strategic plans and financial plans Strategic planning and your organisation Linking your strategy with vision and mission Identifying strategic gaps Identifying strategic risk Communicating strategy across the organisation Building financial plans The traditional budget process Integrating planning and budgeting Workforce planning and budgeting Involving managers at an operational level in the budgeting process Communicating the budget process Can traditional budgets work effectively in the current economic environment Leading edge trends in budgeting Beyond budgeting Activity based budgeting Zero based budgeting Priority based budgeting Trending and benchmarking Why change from traditional budgeting to a rolling forecast? Why do so many managers dislike the traditional budgeting system? Budgets versus forecasts Historical versus forecasted Identifying your reasons for changing to a rolling forecast Determining the benefits gained from rolling forecasts Changing the way you set targets and measure Performance management and the rolling forecast Why should management and forecasts be more closely linked? What is the role of the budget and how does it fit within the overall context of business planning and management? Linking an adaptive measurement framework to a rolling forecast Successfully integrating forecasting and budgeting as essential tools for measuring Examining the factors that can improve your forecasting capabilities Standardising your inputs Standardising your forecast methods Forecasting frequency Limiting biases Measuring Adopting collaborative sales and operational planning Examining forecasting methods High/low extrapolation Time series decomposition Regression Consensus forecasts Scenarios Trending Benchmarking Matching rolling forecast time periods to your business cycle Rolling forecast time period vs level of detail for your business needs Determining the time spent on planning and budgeting Relating your rolling forecast to month end Identifying and using business drivers in the rolling forecast Identifying and understanding the drivers that are specific to your organisation and processes Linking rolling forecasts with the reality of past results Accommodating multiple business components Determining your business goals Techniques for preparing and designing and implementing rolling forecasts Accurately identifying unrealistic targets Successfully integrating forecasting and budgeting as essential tools for measuring Incorporating the variables to establish accurate indicators and benchmarks Creating an adaptive measurement framework Measuring against benchmarks rather than budgets Identifying and using business drivers Linking activity based budgeting (ABB) in a rolling forecast process Software solutions supporting rolling forecasts Critical success factors: Managing and controlling the implementation The role of the finance function in driving the rolling forecast process The key building blocks for an effective rolling forecast process Obtaining early management buy-in and stakeholder acceptance of the need for change Developing the business case for change, identifying costs and estimated benefits Presenting the case to senior management Techniques for avoiding the pitfalls associated with implementation Linking rolling forecasts with your strategic planning By using an annual budget with a rolling forecast, planning is reinforced as a core competency in your organisation. An overview of the strategic planning framework Using a rolling forecast as a management tool Analysing the implications of different strategic directions on your forecasting How do you resolve the variances between the actual vs the forecasted figures? How do you effectively use the data to drive the strategic direction of your organisation? Integrating forecasts into the strategy review Strategy, plans and indicators Linking rolling forecasts to your financial reporting Strategic scorecards Management reporting Fast tracking month end close Changing from reporting actuals to budget and replacing this with actuals to forecast Complementing your financial reporting with KPI reporting Case Study: Putting it all together, Aubrey will work through an implementation linking planning, budgeting and forecasting in a major Australian organisation. International Trainer: Aubrey Joachim

4 Seminar 3: 16th and 17th August 2010, Mercure Hotel, Auckland 26th and 27th August 2010, Duxton Hotel, Wellington Preparing a cash flow statement in line with accounting standards Understanding the requirements for preparing a cash flow statement Ensuring compliance with international financial reporting standards Elements of a cash flow statement: Operating activities Investing activities Financing activities prepare a cash flow statement Performing a comparative analysis of your statement of cash flows Gaining maximum benefit from the information that your cash flow statement provides Examining your operating cash flow by comparing the direct method and the indirect method Producing consolidated cash flow statements prepare a consolidated cash flow statement Performing a ratio analysis to identify cash usage patterns Effective methods for examining your: Cash flow returns Capital expenditure and investing Liquidity and solvency perform a ratio analysis Creating accurate cash flow forecasts Successfully defining the criteria for accurate cash flow forecasting Identifying what you will need to spend money on examining day-to-day and week-by-week expenditure needs Ensuring that you are planning accurately for your company s liquidity requirements Identifying your optimum forecasting period Effectively using cash flow modelling Using cash flow modelling to improve the accuracy of your cash requirement predictions Aligning cash flow modelling with organisational cash objectives The importance of the time value of money Using discounted cash flows in your financial reporting Performing capital budgeting Maximising capital budgeting Capital versus operating expenditure What are the budgetary implications of capital budgeting? Capital investments as strategic investment decisions How should you budget for capital/fixed asset investments? apply capital budgeting techniques Techniques to maximise investment opportunities Common pitfalls of traditional techniques apply methods to improve cash flows and investment returns Streamlining your organisation s cash usage Streamlining your organisation s cash usage by managing the cash gap Ascertaining where the cash gap is in your organisation Identifying the link between the cash gap and your bottom line Examining value added cash reporting techniques Using cash value added statements to increase your organisation s ability to add cash value analyse a set of accounts to identify opportunities for improved cash flow and profitability Techniques to manage cash flow targets Techniques to manage operational cash flows Generating cash flow from improved balance sheet management Effectively dealing with exchange rate fluctuations apply techniques to manage foreign exchange risk Aligning cash flow forecasts with your existing budgets Using your budgets as a starting point for formulating cash flow forecasts Methods for ensuring that your cash flow forecasts are in line with your budgets Performing cash flow management in a zero based budget environment Accurately identifying unrealistic targets Aligning your cash flow planning with your organisation s business strategy How can cost management be supported by an effective cash flow management system? Expert Trainer: Kevin Lee, BA (Hons), Pg Dip, MBA, ACMA runs a consultancy for business skills development. He is a Chartered Management Accountant with 20 years experience of Government Agencies, Corporates and SME s. Kevin is a member of the New Zealand Association for Training and Development, the Human Resources Institute for New Zealand and accredited as a Belbin Team Role facilitator. His post-graduate qualifications include a post-graduate diploma in business administration with distinction and an MBA in which he majored in finance. Kevin specialises in helping managers and staff to develop practical financial skills and knowledge. He is passionate about making finance relevant, understandable and fun. He enables people to develop their business acumen and to apply financial management practices that suit their organisation s needs and circumstances. Kevin s clients include: Ministry of Justice, Department of Internal Affairs, ANZ National Bank, Meridian Energy, Auckland District Health Board and Auckland City Council. Kevin s approach is highly practical, using only the financial theory that people need to know, and then building skills and knowledge through case studies, examples and small group work. He is able to provide real life advice based on his experience in CFO roles and his experience of managing major Capex projects, implementing financial systems, improving financial processes and procedures and achieving ongoing efficiency savings. Kevin s passion, enthusiasm and commitment result in excellent feedback from participants at all levels: Directors, General Managers, Accountants, Senior Managers, Middle Managers, Supervisors and Support Staff. CUSTOMISED In-house Training If you have a number of staff in your organisation who require training, Conferenz also offers customised in-house training solutions. Contact us now to discuss how you can SAVE UP TO 40% on public training costs. To view a current list of all seminars visit or contact Michael Earley on (09) , mike@conferenz.co.nz

5 FINANCE TRAINING Budgeting and Forecasting for the Public Sector Strategic Planning, Budgeting and Rolling Forecasts Management for improved 19 and 20 July 2010, Wellington Key learning objectives Gain an understanding of Strategic Planning in the Public Sector context Learn to develop financial plans Understand leading edge budgeting tools and how they apply to Public Sector organisations Learn to make an effective rolling forecast Use effective tools for management and setting KPIs Link organisational strategy with agency vision and mission Consider alternative frameworks for measurement and improvements Evaluate forecasting options Who should attend? Anyone in the public sector (including central, local government and assorted agencies) who wants to increase their knowledge of budgeting and forecasting in a public sector environment including: Chief Financial Officers Finance Managers Management Accountants Planners and Policy Analysts Performance Managers Budgeting Managers Training methodology This course contains a high level of practical work to provide the most valuable and intensive learning experience possible. All attendees will be provided with a workbook and a certificate of completion. Earn up to 12 CPD Points Per Course 3 and 4 August 2010, Auckland Key learning objectives Find out how you can help eliminate the annual mind-set and current-year focus Implement a continual business outlook and rolling forecast for changing business conditions Reduce or eliminate the crush of budget planning at the end of each year Examine best practice techniques for designing a rolling forecast Find out how to identify and use business drivers in the rolling forecast Ensure that your forecasting system is more flexible and linked to strategy Examine the relationship between rolling forecasts and measurement Be familiar with the critical success factors for managing implementation of a rolling forecast Who should attend? and Forecasting is designed for senior level managers and team leaders who need to be kept up to date with leading edge budgeting and forecasting techniques in today s difficult business environment. This programme has been specifically designed for: Chief Executive Officers Chief Financial Officers Managing Directors General Managers Financial Accountants & Controllers Management Accountants Finance Directors & Managers Business Analysts & Managers Budgeting Managers Training methodology These intensive 2-day masterclasses will combine tutorial sessions and case studies with interactive learning exercises. All attendees will be provided with a workbook and a certificate of completion. A very productive way in which to gain CPD hours, most enjoyable Eamonn Waters, Finance Officer, Selwyn District Council 16 and 17, August 2010, Auckland 26 and 27, August 2010, Wellington Key learning objectives Prepare cash flow statements using the direct and indirect methods Use financial ratios to analyse, manage and monitor liquidity Identify cash flow drivers and criteria for accurate cash flow forecasting in your organisation Use cash flow modelling as a tool to improve the accuracy of your cash requirement predictions Apply strategies to improve returns from capital proposals Align cash flow forecasts with your existing budgets Identify your optimum forecasting period Take steps to maximise organisational cash flow Who should attend? Through a series of practical exercises, this seminar will demonstrate the most effective techniques for managing cash flow for improved. It is relevant for all those involved in evaluating the cash flow position of any organisation. Specifically it should be of interest to: Financial Accountants Finance Directors Treasurers Directors Partners Senior Managers Commercial Managers Finance Managers Financial Analysts Financial Controllers Chief Financial Officers Corporate Risk Managers Credit Managers Any decision maker where cash flow is important! Training methodology The emphasis on this course is learning cash management techniques through practical examples. This intensive two-day seminar will combine tutorial sessions with practical examples throughout, allowing participants to gain first hand experience of effective cash management skills. All attendees will be provided with a workbook and a certificate of attendance. Train your team and gain huge savings - train 2 and save $500, train 3 and save $1000 * *total price will be based on early-bird or full price depending on booking date. Applies to two day seminars only.

6 FINANCE TRAINING SEMINAR: SD042/SD063/SD064 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 2010 Copyright Conferenz Ltd 1st Delegate HOW TO REGISTER Name (Mr/Ms/Mrs/Miss/Dr) Position First name Last name Step 1: Phone us and we will take your registration over the telephone TELEPHONE: (09) nd Delegate Name (Mr/Ms/Mrs/Miss/Dr) Position 3rd Delegate Name (Mr/Ms/Mrs/Miss/Dr) Position Company Details Company Name Postal Address City Telephone Approving Manager Job Title Name of Booking Contact Phone Course Details Fax $1995 plus GST SAVE $100 (31 May 2010*) $2195 plus GST (31 May 2010*) $1995 plus GST SAVE $100 (15 June 2010*) $2195 plus GST (15 June 2010*) $1895 plus GST SAVE $100 (28 June 2010*) $1995 plus GST (28 June 2010*) TEAM DISCOUNTS First name These combinations entitle you to either go on each course or you can go on one and your colleague(s) can attend the other(s). Delegates must be from the same organisation & bookings made at the same time. Team Discounts Any 3 Seminars: First name EARLY-BIRD SAVER Register & Pay BEFORE date below* Last name Last name For groups of 4 or more people contact Michael Earley (mike@conferenz) on to discuss group discounts or in-house training options Any 2 Seminars: SAVE $500 * SAVE $500 * SAVE $500 off total price* SAVE $1000 off total price* FULL PRICE Register & Pay AFTER date below* (*total price will be based on early-bird or full price depending on booking date. Applies to two day seminars only) *off full price *off full price OR REGISTER ONLINE: OR Fax your registration form to us immediately FACSIMILE: (09) OR POST: Send your registration form to: Conferenz Ltd Freepost 83430, PO Box , Auckland register@conferenz.co.nz A tax invoice will be issued upon receipt of registration. Payment must be received before the event to secure your place. Registration is for named delegate only and cannot be shared. HOW TO PAY Our preference is for you to either, direct credit or mail a crossed cheque. Either: DIRECT CREDIT Direct credit to our bank account (please supply details of remittance) BANK: The National Bank, North Shore Corporate ACCOUNT NAME: Conferenz Ltd ACCOUNT NUMBER: PAY BY CHEQUE Post a crossed cheque payable to Conferenz Ltd PAY BY CREDIT CARD We accept most major credit cards. Please contact our office directly on (09) if you wish to use this method of payment, or register online for this event at GST.No What happens if I have to cancel? Should you be unable to attend, a substitute delegate is welcome. Alternatively, a full refund less $300+GST service charge, per registrant, will be made for cancellations received in writing (letter, fax or ) up to ten working days prior to the event. Regrettably, no refund can be made less than ten working days prior to an event. Delegates are responsible for their own travel/accommodation bookings and no compensation will be made should the seminar be rescheduled or cancelled. Please Note: Conferenz Ltd reserves the right to make any amendments that we may deem to be in the best interest of the seminar. PRIVACY ACT - Please Note: Names recorded above may, from time to time, be provided to other organisations for the purpose of disseminating their product information by mail. I would like to change the details on my address label Conferenz is a Leading Light sponsor of: Conferenz is a member of the Sustainable Business Network and we constantly seek ways in which to improve business practice and minimise the effects on the environment. I no longer wish to receive information on future Conferenz events I do not want to receive information from other organisations