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.
Dynamic Budgetary Control enables the learner 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
- Provide a structure through which to delegate/devolve authority in a way which ensures co-ordination, e.g. the balance of capacity and demand
|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.|
Learning Outcomes of Dynamic Budgetary Control
- What is budgetary control?
- Why and how should it be customised?
- Why does budgetary control need to be dynamic?
- What is the way forward?
- What does dynamic budgetary control involve?
- What is the nature of control?
- How do we clarify financial objectives?
- What are the key forecast relationships?
- What is our model for financial management?
- How should we classify outlays?
- How do we introduce dynamic budgetary control?
- What is the relationship between price or margin and volume?
- How do we deal with customer loyalty?
- How do we deal with receipts from customers?
- What happens as the rate of growth increases?
- How do we deal with volume inducing outlays?
- How do we deal with volume sustaining outlays?
- How do we deal with volume anticipative outlays?
- What is synthesis?
- What is mutual reinforcement?
- What is value assurance?
- How do we overcome the obstacles in our way?
Target Audience of Dynamic Budgetary Control
Accounting and finance professionals in practice and industry looking for a new approach to budgetary control.
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.
Learners take their own route through the topics covered in the course. They will learn at their own pace through a variety of activities designed to accommodate a range of learning styles.
You might also be interested in
Register now for free module
To purchase a course or to try a free module please register. Registration is free and there is no obligation to purchase. Just click the button below:
Please review our Frequently Answers Questions (FAQs) for answers to the most common questions we receive (opens in a new window).
Buy Dynamic Budgetary Control Online Course
Add to cart / basket
Click on the Buy Now or Add to Cart button above to make your purchase via credit or debit card. Your payment will be collected securely via PayPal. Please note that a PayPal account is NOT required to process your payment (simply click on the option to pay via credit or debit card). No surcharge will be levied on card payments for purchases. You will automatically be emailed a receipt after your purchase. Your service with Financial Fluency commences once your payment is processed. You have the right to cancel your order, less an admin charge, from the time of purchase for a period of 7 days provided you have not accessed the course. If you have worked through any of the course content you will not be able to cancel your order. Please read our full terms and conditions before purchase.
Pay by invoice and bank transfer
If preferred you can pay via bank transfer (BACS / EFT / Online banking).
Please complete the form below and we will send you an invoice with our bank details.
Other relevant information
View cart or checkout
If using our shopping cart, you can view the cart and checkout here.
You will receive 3 or 12 months (depending upon your chosen option) unlimited free access after payment of a one off registration fee.
Length of courses
Each course takes approximately 4 hours to complete.
Once you've completed the course you will be able to claim 4 verifiable CPD hours, if required. CPD points are claimed by the registered user, who can be someone different to the person who pays if required.
VAT will be calculated and added automatically during the checkout process (and before any payment is taken) based on your location.
VAT is applicable at the prevailing rate for customers within the EU. VAT will be added during checkout at the rate applicable to your Country. For customers outside the EU, where UK VAT is non-applicable, the checkout will automatically detect your location and VAT will not be added.
For customers in the Channel Islands please contact us in advance of purchase.
You will be emailed instructions of how to access your course and an activation code within one working day, usually a few hours.
Do you wish to pay in a different currency?
Simply email email@example.com with a list of the courses you wish to purchase and your chosen currency and we will send you an invoice in your desired currency.
Any more questions?
For any questions, please see our frequently asked questions as well as our full terms and conditions or send an email to firstname.lastname@example.org