Budgeting and Financial Management in an Era of Globalization
This is a senior-level, course that examines the theory and practice of budgeting and financial management in an era of globalization. The course conveys an understanding of the purposes and roles of budgeting in several types of organizations and examines the major trends and the political, economic, and financial considerations involved in budgeting. One such consideration is globalization. Delegates will explore the impact of globalization on the governance capacity of governments and discuss what globalization means for budgeting.
This course will examine the various theories, practices, challenges, and reforms of budgeting and financial management in governments and government agencies. Delegates will learn what budgeting in a globalized era is and what its related theories are; how budgets are formulated; the roles of politics, economics, and management in public budgeting; how public resources should be allocated efficiently; the impact of globalization on the governance capacity of governments; what globalization means for budgeting; and the feasibility of recent initiatives.
Course Objectives
By the end of this course, each delegate will be able to:
- Budgeting and financial management in an era of globalization
- How the budget relates to the two key financial statements: balance sheet and income statement
- How to prepare a budget consistent with the organization’s strategic plan
- How to use appropriate estimation techniques in the development of revenue and expense budgets
- Identify all the appropriate costs to be included in a capital expenditure proposal
- How to analyze management cost reports and take corrective action
Course Outline
- Budgeting and Financial Management in an Era of Globalization
- Overview and Trends in Public Budgeting
- Theories of Budgeting
- Theory Continued—Politics and Bureaucracy in Public Budgeting
- Macroeconomic Issues in Public Budgeting
- The Tax System, Tax Expenditures, and Tax Reform
- Accountability, Management, and Efficiency of Resource Allocation
- Reform Initiatives and the Realities of Budgeting
- Accounting Rate of Return
- Cost Control and Management Budget Reports
- Approaches to Cost Control
Our mission is the development of potentials in individuals and organizations in emerging economies. We believe that economies develop when entities within it are performing to their highest potential.
RELATIONSHIP
People matter to us. We are committed to understanding our clients so that we can serve them better. Our ultimate goal is to foster mutually beneficial longterm relationships with each of our clients that is built on trust.
KNOWLEDGE DISSEMINATION
Our faculty members are experts within their fields, and are supported by a network of dynamic back-office staff. We actively encourage collaboration and knowledge sharing, recognizing that winning ideas come from collaborative thinking. With the wealth of knowledge within our teams and our collaborative ethos, we create an atmosphere that is conducive to learning for all our delegates.