Online Course on Dynamic Budgetary Control
In a rapidly changing world, the amount of time spent looking backwards needs to be reduced, to free up time to look forwards.
The need now is to be proactive, forward looking, outward looking and dynamic.
Dynamic Budgetary Control ensures that the budget not only provides parameters for operational controls but is a means of monitoring and influencing strategy.
Most budgetary control systems in the UK were introduced in an environment in which the predominant management style was “command and compliance” to which the once-a year, for-a-year budget, expressed in the language of accounting provided a compatible approach. As the rate of change in the business environment has increased, however, this approach to budgeting has come to be seen as not only inappropriate but dangerously misleading.
In this course we look at a different approach, designed to adapt to volatility and to match the increasingly prevalent “trust and commitment” style of management. It is infinitely flexible and expressed in the language of financial management.
Budgets should flow from strategy, not constrain it. The pressures on budgetary control should be seen in the context of the trends affecting management generally, e.g. the greater emphasis on strategy, customers, devolution, co-operation and intangibles. It recognises the importance of things that cannot be measured.
Dynamic Budgetary Control ensures that opportunities for enhancing the long term value of the business are considered properly and not evaluated on their short term impact.
At the end of this online CPD course you will be able to
• Understand the major trends in the business environment, and the impact they are having on management in general and financial management in particular
• Establish a structure of control in order to embrace the making and monitoring of decisions
• Promote a forward looking approach to financial management
• Influence behaviour, for example team building and clarifying cultures and values
This course is written for accounting and finance professionals in practice and industry looking for a new approach to budgetary control.
Key areas covered
• Introduction to dynamic budgetary control
• The principles
|Rating:||100% of learners thought this course met their cpd needs|
“As this was the first time I did an online course I found it intense but at same time it was very knowledgeable and I liked the quizzes after each section. It helped you to learn and to think about the answers you gave.”
“As going along with elearning, it has been interesting especially as you can click in to the graphic to expand the detail.”
“I found the course excellent with the theory and principles well defined.”
“I have completed the course and found that it was very enjoyable and the lessons I have learned about dynamic budgeting will assist me with adapting and changing our current approach.”
“It gave me ideas and prompted me to think about how I approach budget preparation in my work. The practical examples were useful to see how the techniques described could be applied.”
“It made me aware of a different and more effective approach to the budgeting process.”
“I really liked the variety of content and excercises – it really made me think how this could be applied in my business.”
“The principles taught are very interesting and contemporary.”
“The companies I have worked for have pursued more traditional budgeting methods. I wanted to understand the modern alternatives so that perhaps I may be able to demonstrate their benefits in the workplace.”
|You can review this course using the questionnaire in the course completion area.|
Learners take their own route through the topics covered in the course. They will learn at their own pace through a variety of interactive activities designed to accommodate a range of learning styles.
About the author of Dynamic Budgetary Control
David Allen is a past president of CIMA and a past chairman of the Management Accounting Committee of the International Federation of Accountants.
He was employed for many years by Cadbury Schweppes group holding directorships with various subsidiary companies, notably Cadbury Ltd.
Please review our Frequently Answers Questions (FAQs) for answers to the most common questions we receive.
Course Price and Features
• This course provides 4 hours of verifiable CPD
• You can access the course unlimited times for 120 days following purchase
• Full price = £75 (plus VAT) less 10% Financial Fluency discount = £67.50 (plus VAT)
• Simply use the discount code “FF101” at checkout
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