Custom Industry Training Programs

Budgeting Skills

General Description

The program has been structured for those involved in planning and budgeting processes for their organisation. It is suitable for operational managers who are not financial specialists. At the conclusion of the propgram participants will be able to apply their understanding of budgeting methodology to monitor budget performance, report on financial outcomes and evaluate performance.

Duration

1 Day or 2 Half Days

Pre-requisites

Nil

Methodology

A proven practical workshop approach is taken in delivering this course. Course exercises are designed to impart relevant skills and knowledge through rel-life examples, case studies and scenarios. Comprehensive notes are provided to participants to reinforce learning.

Content

• The importance of planning.


• The range of internal factors impacting on the budget.


• Compiling and "selling" the budget.


• Revenue forecasting and revenue drivers.


• Cost estimating, Performance reporting and Achieving budgets.


• Using variance analysis as a financial tool.


• Capital budgeting


• Performance gap analysis.


• Revenue and costs analysis.

Learning Outcomes

• Explain the purpose and use of a budget.Collect, analyse and organise information to monitor budget performance.


• Measure budget performance, calculate variances and present outcomes.


• Manage budget performance and develop performance reports.


• Translating an organisations activities into a budget.


• The role of budgeting in an organisation.