Budgeting for better operational performance

Duncan Gibson - The Emirates Academy of Hospitality Management

Duncan Gibson, Associate Professor

Duncan Gibson, PhD, MBA, MA, BSc. is originally from London, UK, and has arrived at the Emirates Academy from teaching Hospitality Accounting and Finance in Hong Kong at the School of Hotel and Tourism Management of the Hong Kong Polytechnic University. His interest is in hotel financial controllership, the subject of his PhD thesis, and whilst in Hong Kong he helped found the Hong Kong Association of Hotel Controllers and Accountants developing and delivering a series of job-related courses for the membership. Over the years, he has given many courses to industry mainly focused at increasing financial awareness for non-financial managers. Before his period in Hong Kong he taught at Middlesex University in the UK where he was also visiting Professor at several European hotel schools (Surrey University (UK), IMHI, ESSEC, (France); Hotel Consult (Switzerland) in addition to carrying out assignments for the WTO (World Tourism Organization) in Malaysia and the ILO in Thailand. Prior to academia in the mid 1980’s, his 15 years of industrial experience were spent exclusively in operations in the field of hospitality management mainly in ‘controllership type’ roles both in Europe and the Gulf state of Bahrain.

An important method of financial control is the comparison of planned income and expenditure with the income received and the expenses incurred. This course looks at budgets, what they are, how they are formulated and how they are used within a business. Different approaches to the budget setting process are examined; also the way that different parts of the same organization look at budgets and its potential for internal conflict unless carefully managed.

Who will benefit from this course?

Operational and departmental managers in the business.

Course Objectives

By the end of the workshop you will be able to:

1. Explain the purpose and nature of a budget

2. Formulate operational budgets

3. Identify the benefits of a budgetary control system

4. Understand the budget setting process

5. Understand the importance of careful implementation and management of a budgetary control system

Course Outline

· Introduction

· The purpose of budgeting

· The purpose of different operational budgets – P/L, Cash and Master Budgets

· Producing simple operational budgets

· Comparing budgets with cash flow forecasts

· Fixed and flexible budgets

· Organizational behavioural aspects of budgets

Course Fees: AED 2 700/participant

The course fee includes instruction materials, morning and afternoon tea/coffee, and a full buffet lunch. Accommodation and transportation are not included in the “Course Fees”.

Duration

2 full day programme; timings: 09.00 – 17.00

Registration

All bookings must be confirmed in writing to Emirates Academy. Course fees are payable upon confirmation of booking and an invoice will be sent to you. Bookings cannot be confirmed until payment and a completed application form is received. Fees paid are non-refundable.

Course Materials

The course fee includes everything required for the class work including notebooks, articles, note-paper and pencils.

Dress Code

Attire for classes is smart casual. Please note that all spaces in the Academy are on a central air conditioning system.

For clarification, dress code is as follow:

· No jeans

· No sandals

· No open shoes (ladies are exempt from this)

· No trainers

· No T-shirts, only collar shirts.

Number of participants

Maximum of 15


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