Budget Management


Duration - 1 Day

Controling the resources of an organisation needs careful planning and appropriate timely action. Successful budgeting requires an effective system that links the goals and targets of the organisation directly to the resources that have been committed to the achievement of these goals/targets.

This course will provide managers and anybody else who is responsible for managing budgets with the knowledge and skills required to read, understand and act upon their budgets. It will also allow them to contribute effectively to the budget creation process. The course will include many opportunities to practice what they learn through the widespread use of practical casestudies and examples.

 

Objectives

At the end of the course the participants will understand:

  • Basic budgeting
  • The key budgetary statements and their compilation
  • Multi-annual, Zero-based, and Activity Based Budgeting
  • Analysing variances and corrective action
  • Updating and flexing the budget
  • Presenting the budgets
  • Avoid the common pitfalls
   
 

Overview

  • Basic budgeting concepts explained
  • Budgeting as part of the business plan
  • The budgeting process
  • Structuring the budgets
  • The key budgetary statements
  • Compiling the budgets - avoiding the pitfalls
  • Reviewing the budgets
  • Using Variance Analysis
  • Identifying corrective action
  • Flexing the budget
  • Updating the budget - alternative approaches
  • Presenting the budget
  • Action planning