Financial Management, Budgeting and Auditing

This DIXONTECH course provides participants with advanced tools and strategies in financial management, budget planning, and auditing to ensure sound fiscal control and accountability. It integrates modern budgeting practices with internal and external audit methodologies, enabling participants to enhance organizational performance, strengthen internal controls, and align financial operations with strategic goals.

TRAINING TOPICS

• Core Principles of Financial Management
• Strategic Budgeting and Cost Control
• Auditing Standards and Internal Control Systems
• Performance-Based and Zero-Based Budgeting
• Financial Reporting, Compliance, and Governance

By the end of this training course, delegates will be able to:

• Design and manage effective financial systems
• Prepare and monitor strategic budgets
• Apply auditing principles and internal control frameworks
• Evaluate performance through financial indicators
• Strengthen compliance and governance mechanisms
• Improve transparency and fiscal accountability
• Integrate budgeting, finance, and auditing functions

TRAINING IS TAILORED TO:

• Finance and accounting professionals
• Auditors and internal control specialists
• Budgeting and financial planning officers
• Project and cost control managers
• Department heads and supervisors
• Financial controllers and CFOs
• Government and NGO finance staff

TRAINING METHODOLOGY

Participants will engage in interactive lectures, group exercises, and case studies. The course includes simulations on budget development, audit procedures, and financial reporting, allowing delegates to apply theory to practical organizational contexts and develop professional-level analytical and decision-making skills.

DAY 1

FUNDAMENTALS OF FINANCIAL MANAGEMENT

• Overview of financial management objectives and scope
• Relationship between finance and corporate strategy
• Understanding working capital management
• Financial decision-making and capital allocation
• Sources of funds and cost of capital analysis
• Managing liquidity, profitability, and solvency
• Financial performance evaluation techniques

DAY 2

BUDGETING FRAMEWORK AND APPROACHES

• Role of budgeting in organizational planning
• Types of budgets and their applications
• Incremental and activity-based budgeting
• Preparing operating and capital budgets
• Linking budgets to performance objectives
• Budget assumptions, forecasts, and variance analysis
• Case study: developing a departmental budget

DAY 3

PERFORMANCE-BASED AND ZERO-BASED BUDGETING

• Understanding performance-based budgeting systems
• Setting measurable financial performance indicators
• Integrating zero-based budgeting principles
• Evaluating cost-benefit and expenditure efficiency
• Prioritizing projects within budget constraints
• Budget control and mid-year revisions
• Practical workshop: performance budget design

DAY 4

INTERNAL CONTROL AND AUDITING PRINCIPLES

• Objectives and functions of internal auditing
• Audit planning, execution, and reporting process
• Understanding risk-based audit methodologies
• COSO framework and internal control design
• Evaluating fraud and compliance risks
• Coordination between internal and external auditors
• Case study: assessing internal audit findings

DAY 5

FINANCIAL REPORTING, COMPLIANCE, AND GOVERNANCE

• Financial statement interpretation and analysis
• Reporting standards and regulatory requirements
• Audit trails and financial documentation systems
• Ethics and accountability in public finance
• Governance frameworks for financial transparency
• Audit committee roles and oversight functions
• Continuous improvement in financial operations