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Financial Budgeting

The PGDM Finance Management course focuses on planning, designing, directing and managing<br>the economic activities such as the utilization of capital and acquisition of the firm.

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Financial Budgeting

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  1. MIT School of Distance Education Financial Budgeting

  2. Introduction to Financial Budgeting Financial budgeting is the strategic planning and management process through which a company outlines its anticipated income and expenses for a specific timeframe. It involves creating a detailed financial plan that guides the allocation of resources, such as funds and cash flows, to meet the organization's goals and objectives. ▪ Financial budgeting serves as a comprehensive snapshot of an organization's financial standing, objectives, and cash flow. By consistently engaging in operational and financial budgeting, a company establishes a benchmark for assessing how its real-world outcomes deviate from anticipated performance. ▪

  3. Process in Financial Budgeting The financial budgeting process for an annual budget typically spans three to six months and involves various confidential components. These steps encompass a series of strategic activities aimed at developing a comprehensive financial plan: Establish and communicate management targets and goals ▪ Develop the detailed, final budget to directly support those targets and goals, and attach financial documents such as the balance sheet, income statement, and cash flow statement ▪ Finalize employee compensation plans (usually this is part of the process) ▪ Compile and adjust budget model and measurement metrics so management can assess progress ▪ Review and make final changes ▪ Approval ▪ Disseminate subordinate and/or line of business budgets across the organization ▪

  4. Gartner 5 step zero-based budgeting cycle Financial Transparency Strategic Priorities and KPIs Value based spending Align, evaluate and optimize Control and monitor

  5. Benefits of Financial Budgeting Strategic Planning: Financial budgeting provides a structured framework for organizations to set and align financial goals with overall business objectives. It helps in outlining a roadmap for allocating resources and achieving financial targets. Resource Allocation: Budgets assist in allocating resources efficiently. By identifying financial needs and priorities, organizations can allocate funds to different departments or projects, ensuring optimal use of resources. Performance Evaluation: Comparing actual financial results with budgeted figures allows organizations to identify variances, analyze the reasons behind them, and take corrective actions if necessary. Cash Flow Management: Through budgeting, organizations can anticipate cash inflows and outflows. This helps in managing cash flow effectively, ensuring that there is enough liquidity to meet operational needs and cover expenses. Continuous Improvement: The budgeting process allows organizations to learn from past performance and continuously improve future financial plans. By analyzing variances and adapting strategies, companies can enhance their financial management practices over time. ▪ ▪ ▪ ▪ ▪

  6. Why pursue PGDM in Finance Management ? Finance Management professionals need to learn how to identify Financial Budget in an Organization. The PGDM Finance Management course focuses on planning, designing, directing and managing the economic activities such as the utilization of capital and acquisition of the firm. With the PGDM Finance Management course, learn skills like mathematical proficiency, technological skills, ability to work independently, organization, etc.

  7. Why MITSDE ? • Learn the basics of Finance • Learn the basics of brand valuation, intangible assets value drivers, and financial impact of functional level strategy • Learn in-depth about financial modelling • Learn about various financial markets, mergers and acquisitions and international finance • Understand the tools involved in financial analytics

  8. Potential Careers Opportunities 1) Credit Manager 2) Financial Advisor 3) Equity Analyst 4) Tax Consultant 5) Research Analyst 6) Bank Manager 7) Portfolio Manager 8) Finance Manager

  9. About US MIT School of Distance Education is one of the largest distance learning centers in India. We offer various Post Graduate Diploma and Certificate programs & Online MBA Courses across various industry sectors that include Operations Management, Project, Information Technology, Banking and Finance, Digital Marketing, Business Analytics and many more. MITSDE has an online assessment system, flexi-learning approach, and provides a state-of the-art Learning Management System (LMS) which is in line with its mission 'flexible learning opportunities anywhere, anytime, and to provide ultimate convenience, ease, and flexibility to our students’.

  10. Advantage of learning with MITSDE o Self-paced learning o Regularly updated syllabus o Live webinars and doubt solving sessions o Industry-relevant course offerings o Quick and highly-responsive student o Courses taught by Industry Experts support o Affordable courses o Dedicated student support team o No cost EMI options

  11. Placement Record at MITSDE MITSDE has a dedicated Placement Cell providing 100% placement, CV building workshops and Career Counseling. Our Student Placement :

  12. Placement Record at MITSDE

  13. Contact Us Address: Email ID: admissions@mitsde.com MIT Alandi Campus, Pune Moshi-Alandi Road, Alandi-412105,Pune Maharashtra (India) Website: www.mitsde.com Phone: 9112-207-207 / 9028-258-800

  14. Thank you

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