NCI Courses

The role of budgets as part of strategic planning. Budgets as an integral part of a Business Plan for organisations of various sizes and at different stages of development. The interrelationships between the various functional budgets and the economic environment. Sources of information for preparing and updating budgets. Examining the qualitative aspects of the budgeting process including human subjectivity and the need for assumptions. Sensitivity analysis based on the applicability / non-applicability of various assumptions. Using flexed budgets and variance analysis for identifying and diagnosing problems. Performance analysis and behavioural aspects.

Advanced variance analysis including mix and yield variances. Reconciling budgeted and actual performance using absorption and variable cost approaches. In-depth analysis of divergences from plans and the generation of possible solutions to deal with problems in various organisational settings. Divisional performance measurement including consideration of divisions within different organisations such as public sector and not-for-profit, and issues such as transfer pricing and taxation.

Understanding the context of transfer pricing, the various transfer pricing techniques and its importance for multinational organisations on a global scale.

Consideration of the distinction between risk and uncertainty. Applying various methods to estimate the amount of risk and to incorporate uncertainty in the decision-making process including the use of probabilities / expected values, decision trees, the learning curve, high-low methods, ‘maximin’ and ‘maximax’ techniques etc.

Understanding the context of decisions for organisations with varying objectives, and for firms of different sizes and operating in various sectors. Applying marginal costing techniques in decision making to include multi-product analysis and consideration of the degree of operating gearing etc. Application of relevant costing principles in decision making to include outsourcing, sub-contracting, continue to trade, pricing decisions etc. Use of various techniques including graphical approaches and linear programming to deal with scarce resources and limiting factors. The value of perfect information in reducing uncertainty.

An appreciation of current topical environmental and economic items and the impact on the business environment. Topics will be selected by the lecturer and will include new and emerging developments in the field. Given that the content is focused on current issues a flexible approach to both content and delivery is adopted however an example of some topics include environmental, social and corporate governance (ESG), sustainability, artificial intelligence and legislation updates.