HSE IPAA
Budgeting: Theory and Practice
Setting up a budgeting system in your company
24 hours of training
11 topics and workshops
HSE IPAA certificate of completion
51 000 ₽
/course
40 000 ₽
/course
0
Course objective
The course introduces short-term and long-term financial planning, its objectives and principles, and teaches you how to build a budgeting system in a company.
Preparing operating and financial budgets
Financial analysis and controlling methods
Developing budget policies and procedures
Skills you will gain
Designing a financial structure based on the organizational one
Setting up and analyzing a budgeting system
Preparing operating, investment, and functional budgets
Applying financial analysis methods
Plan-vs-actual analysis and working with flexible budgets
Developing budget policies and procedures
Budgeting in the mining industry
Core system elements
A budgeting system is built on three core elements.
Financial structure
Financial responsibility centers and their hierarchy.
Budget structure
The income and expense budget, the cash flow budget, and the forecast balance sheet.
Policies and procedures
Organize the budgeting process and define participants' responsibilities.
How the training works
The training is built around workshops and real company examples.
Duration
24 hours of training.
Workshops
Assignments are completed using the corporate client's company or your own company.
Cost classification
A dedicated workshop on cost classification.
Industry specifics
Specifics of planning and budgeting in the mining industry.
Who this training is for
Chief financial officers
Economists
Accountants
Heads of planning and economics departments
Heads of financial responsibility centers
Mining company specialists
Business owners
Training program
Eleven topics — from cost classification and budgeting goals to industry specifics.
24
hours of training
11
program topics
3
core budgets
- Cost classifier and costing methods.
- Decision-making stages, budgeting goals and outcomes, cost classification workshop.
- Architecture components, linking budgeting objects to budgets, the system of constraints and limits.
- Budget structure, evaluation criteria, developing a base hypothesis.
- Horizontal, vertical, trend, and ratio analysis.
- Implementation algorithm, FRCs, standards and constraints, item classifiers, plan-vs-actual analysis, and management reporting.
- The budget management procedure and budgeting specifics in the mining industry.
Course price
40 000 ₽
Learn now, pay later!
4 888
₽/mo
3 833
₽/mo
Installments for 12 months
15%
Enroll in the course or get a free consultation
Удобная платформа для обучения
Личный кабинет с понятным интерфейсом: управляйте обучением, следите за прогрессом и общайтесь с преподавателями в одном месте.
Учебные материалы
Все лекции, презентации и задания в одном месте
Расписание занятий
Календарь с напоминаниями о ближайших занятиях
Прогресс
Успеваемость и выполненные задания
Видеолекции
Смотрите лекции в удобное время
Frequently Asked Questions
When are classes held?
Groups start as soon as enough participants enroll, and class times are agreed with the participants. Online courses can be taken at any convenient time in the Online Learning section.
How much does training cost?
The price of each course is listed in the schedule. Terms for corporate groups are discussed separately.
Who teaches the classes?
Instructors with extensive practical and academic experience; many of them hold professional certifications, academic degrees and titles.
Where does training take place?
In our classroom in Moscow, at the client’s premises, or online in the Online Learning section.
Can I study from another city?
Yes. Online courses are available from any region of Russia: lectures, materials and tests are gathered in your personal account in the Online Learning section.
How long does a course last?
It depends on the program: the duration is shown on each course page in the catalog. For online courses, the duration is shown to the minute.
Course price
40 000 ₽
Learn now, pay later!
4 888
₽/mo
3 833
₽/mo
Installments for 12 months
15%
Enroll in the course or get a free consultation
Budgeting: theory and practice
Course objective
To give a complete picture of short-term and long-term financial planning, its objectives and principles, and to teach participants how to build a budgeting system in a company. Participants will gain skills in:
- designing a financial structure based on the company's organizational structure;
- setting up and analyzing a budgeting system using their own company as an example;
- preparing operating, investment, functional, and financial budgets;
- applying financial analysis and controlling methods in plan-vs-actual analysis;
- developing budget policies and procedures;
- accounting for the specifics of budgeting in the mining industry.
About the course
Budgeting is the justification of how a company's financial resources will move over a given period. Its object is financial resources that are generated, allocated, and reallocated in the course of business, and its result is a system of financial plans.
Financial planning makes it possible to assess the effectiveness of management decisions in light of their funding sources, set priorities, and achieve planned results. Budgets are plans for generating, allocating, and using financial resources; their form and set of indicators depend on the specifics of the unit and the business.
Core elements of a budgeting system
- Financial structure — financial responsibility centers (FRCs) and their hierarchy, through which the company's costs and performance are managed.
- Budget structure — the set of budgets used for planning and accounting. The main ones are the income and expense budget, the cash flow budget, and the forecast balance sheet (balance sheet budget).
- Policies and procedures — documents that organize the budgeting process and set out financial management principles. Typically, these are a regulation on the financial structure, a regulation on the budget structure, and a regulation on planning and financial and economic analysis.
Course objectives
To study approaches to short-term and long-term financial planning and evaluation criteria, and to master the algorithm for building a company's budgeting system.
- Cost classification and costing methods.
- Budgeting fundamentals: goals, objectives, aspects.
- The architecture of a company's budgeting system.
- Monitoring and analyzing budget performance.
- Financial analysis.
- Setting up a budgeting system.
- Designing the company's financial structure.
- Developing budget forms and evaluation criteria.
- Developing the company's budget presentation format.
- Developing budget management policies and procedures.
- Planning and budgeting in the mining industry.
Course content
| No. | Topic | Topic issues |
| Topic 1 | Cost classification and costing methods | 1) Cost classifier. 2) Costing methods. |
| Topic 2 | Budgeting fundamentals: goals, objectives, aspects | 1) Factors that determine how effectively a company is managed through budgeting. 2) Decision-making stages in budgeting. 3) Goals and outcomes of budgeting. 4) Cost classification (workshop). |
| Topic 3 | The architecture of a company's budgeting system | 1) Components of the budgeting system architecture. 2) Linking budgeting objects to budgets. 3) Budget objectives. 4) The system of constraints and limits. 5) Building the budgeting system architecture for a unit or company (workshop). |
| Topic 4 | Monitoring and analyzing budget performance | 1) Building the budget structure. 2) Financial analysis of the company's performance and developing evaluation criteria. 3) Developing a base hypothesis. 4) Workshop. |
| Topic 5 | Financial analysis | Main methods of financial analysis: 1) horizontal; 2) vertical; 3) trend; 4) ratio. |
| Topic 6 | Setting up a budgeting system | The algorithm for implementing a budgeting system and allocating responsibilities across the stages of the budgeting process. |
| Topic 7 | Designing the company's financial structure | 1) Classification and hierarchy of FRCs. 2) Identifying budgeting participants and FRCs. 3) Designing the company's financial structure (workshop). |
| Topic 8 | Developing budget forms and evaluation criteria | 1) Building a budget classifier (workshop). 2) Identifying budgeting process participants (workshop). 3) Budget management evaluation criteria for each unit (workshop). |
| Topic 9 | Developing the company's budget presentation format | 1) Analysis of the income and expense structure. 2) Analysis of financial and operating performance indicators. 3) The system of standards and constraints. 4) Classifier and coding of income and expense items. 5) Classifier and coding of cash flow items. 6) Classifier and coding of capital expenditure items. 7) Principles of building operating and financial budgets. 8) Plan-vs-actual analysis, flexible budgets, management reporting. 9) Workshop on the topic. |
| Topic 10 | Developing budget management policies and procedures | 1) The company's budget management procedure, aligned with the regulations developed. 2) Specifics of budget preparation in the company under review. |
| Topic 11 | Planning and budgeting in the mining industry | 1) Specifics of planning in the mining industry. 2) Preparing and analyzing budget indicators of a mining company. |
The training lasts 24 hours.
Workshops are based on the corporate client's company or the participant's own company.
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