Creating & Managing Budgets Training Course
Who is it for?
This course will benefit anyone who has any involvement in creating and/or managing a budget, either now or in the future. This course can benefit people who have been creating and/or managing budgets for years just as much as those who are new to it.
Effective budgets are vital for the good financial management of any organisation. As strong financial management is critical for organisational success, it is crucial that anyone involved in the budget creation and/or budget management process is well trained in practical techniques for doing so. Budgets are used for decision making, cash flow planning and operational judgements as well as forming part of the business planning process and so play a central role in the running of any organisation.
This course will provide the participants with hands-on tools and techniques that they can apply to their own budgets and as for all of our courses, they will be asked to complete a personal action plan at the end of it to ensure that they have considered how to put the ideas from the training into practice.
We would be delighted to tailor this course to your organisation and the specific objectives of the course participants – contact us for more details!
- Why do budgets? The importance of effective budgeting and its use across the organisation.
- The budget cycle: understanding where budgets fit into the overall plans.
- Three methods of budgeting: what are they and which is best?
- Budget risk: what poses a risk to a budget, how to measure the risk and how to deal with it.
- Identifying costs for a budget: practical techniques for doing so.
- Managing a budget: what are the budget holder responsibilities?
- Variance analysis and dealing with over spends and under spends.
- Cost management: cost behaviours and cost drivers – using these to make the best decisions.
- The implications of a budget on the cash flow of an organisation and why this is important.
- The differences between a budget and a forecast and how to create a successful forecast.
- Financial terminology