Title: Finance Fundamentals: Financial Planning and Budgeting»

Finance Fundamentals: Financial Planning and Budgeting Nairobi, Mombasa; Kenya


This course explores how current economic conditions impact finances, before showing you how to manage yours more effectively. You will find out whether you have bad financial habits and how to address them; discover a simple four-stage model for making sound financial decisions; examine the two components of budgeting – income and expenditure – and how to manage them; and look at a key area of spending – insurance.


10 days.

Course Objectives

By the end of this training you will be able to: 

·         Identify and understand how financial needs change over the life course

·         Identify, understand and apply a model for financial decision-making

·         Identify and appreciate how human behaviour affects financial decisions

·         Identify and understand the impact of inflation and tax on incomes

·         Apply and appreciate the social and economic factors that influence spending

·         Design and manage a household budget

·         Identify and understand insurance products and when to buy them

Course Content

Module I: The fundamentals of Financial Planning and Budgeting

a. What is a financial plan?

b. Why is planning an important concept in managing a business?

c. What is the difference between planning and budgeting?

d. Who is responsible for the financial planning function in the business?

e. Planning for costs and revenues

f. Why do business costs need controlling?

g. Uncontrollable costs – do they exist?

h. Who has the responsibility for cost management in the business?

i. Overview of the financial statements and how they interrelate

j. The Balance Sheet – the financial "snapshot" of the business

k. The Profit and Loss Statement.

l. How can we project it out for 5 years?

m. What are the more important items you should look for?

n. What the financial statements will not disclose - how can we get behind the figures?

Module 2: Budgeting and controlling revenues: sales and service income

a. How are sales revenues to be estimated – top down or bottom up?

b. Are there different approaches between manufacturing and service businesses?

c. Does market and field research have apart to play in this process?

d. Working Capital and its importance

e. What is working capital and what does it mean for business?

f. How much working capital does a business need in the future?

g. The importance of cash flow forecasting

Module 3: Forecasting materials usage in manufacturing and non-manufacturing businesses

a. Classifying materials used in manufacturing

b. Valuing materials and controlling stocks of materials

c. Managing Non-manufacturing material costs – indirect costs

d. Budgeting for materials and purchases – direct costs.

Module 4: Forecasting and budgeting direct and indirect labour costs

a. Planning labour costs both direct and indirect

b. Recording direct and indirect labour costs

c. Budgeting for direct and indirect labour costs

Module 5: Forecasting and Budgeting direct & indirect expenses

a. Forecasting direct & indirect expenses

b. Types of expenses

c. Budgeting for direct and indirect expenses

Module 6: Flexible budgets: concepts, development and application

a. What is flexible budgeting?

b. Use of sensitivity analysis

c. Importance of flexible budgeting in practice

Module 7: Budgeting and forecasting capital expenditures

a. Difference between capital and revenue expenditure

b. Organisation of capital expenditure budget approval systems

c. Need for capital project monitoring Discussion & review

Module 8: Budgeting and controlling cash flows

a. Turning budgeted sales revenues, costs and capital expenditure plans into a cash budget forecast

Module 9: Completion procedures and applications of the overall profit plan or master budget

a. The financial planning and forecasting process as a control system within the business

b. The behavioural aspects of accounting control systems

c. Responsibility budgeting, accounting & control ideas

d. Zero based budgeting concept (ZBB)

e. Activity based management (ABM) and Activity based costing (ABC) defined


The instructor led trainings are delivered using a blended learning approach and comprises of presentations, guided sessions of practical exercise, web-based tutorials and group work. Our facilitators are seasoned industry experts with years of experience, working as professional and trainers in these fields.

Key Notes

i. The participant must be conversant with English.

ii. Upon completion of training the participant will be issued with an Authorized Training Certificate

iii. Course duration is flexible and the contents can be modified to fit any number of days.

iv. The course fee includes facilitation training materials, 2 coffee breaks, buffet lunch and A Certificate upon successful completion of Training.

v. One-year post-training support Consultation and Coaching provided after the course.

vi. Payment should be done at least a week before commence of the training, to DATASTAT CONSULTANCY LTD account, as indicated in the invoice so as to enable us prepare better for you.

Course Fee: Ksh 180,000, USD 2,200

Course Schedule

Start Date End Date Action
. 04/12/2023 15/12/2023 Register
. 06/11/2023 17/11/2023 Register
. 02/10/2023 13/10/2023 Register
. 05/06/2023 16/06/2023 Register
. 03/07/2023 14/07/2023 Register
. 07/08/2023 18/08/2023 Register
. 03/04/2023 14/04/2023 Register
. 08/05/2023 19/05/2023 Register
. 04/09/2023 15/09/2023 Register