Effective Budgeting

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By the end of this course you should be able to:

* Manage budgets within your department, division, cost or profit centre
* Develop an understanding of the budgeting process
* Work more productively with colleagues from the finance department
* Prepare and monitor a budget
* Appreciate the importance of reducing unnecessary departmental costs and working towards increased corporate profitability
* Handle your annual budget cycle more effectively
* Identify the key drivers behind sales, costs and margins

Delivery:
  • Classroom
Regions:
  • London
Category:

Further Details

Introduction

What is a budget?

The need to plan

Basic concepts explained

Budgeting as part of the business plan

Overview of the budgeting process

Benefits of budgeting

Limitations and problems of budgeting
Budget Types

Capital, revenue and cash

How do these relate to the basics of a balance sheet, profit & loss account and cash flow statements

Concept of accruals
The Cash Budget

What are they and why are they needed.

Preparing a cash budget
Budget Preparation

The budgeting process

Structuring the budgets

The key budgetary statements

Constructing forecasts

Assumptions and limiting factors

Sensitivity analysis

Break-even analysis

Nature and behaviour of costs

Apportioning overheads

Using the 'Zero-based' approach

Incremental budgeting

Rolling budget

Reviewing the budgets
Using the Budgets to Control

Variance analysis and its importance

Identifying corrective action

Flexible and static budgets

Updating the budget - alternative approaches
Presenting and Reporting on the Budget

Giving clear information

Presenting the main variables

Getting agreement

Putting it clearly onto paper

Preparing a report

Providing the information to make decisions

This Training Course is taught in classrooms in the following locations:
London EC
London WC

Guide Price: 1190GBP + VAT