ADVANCED BUDGET PLANNING
RATIONALE
“Master Your Finances with Advanced Budget Planning | Take control of your financial future with our expert tips and tools for advanced budget planning. Achieve your financial goals and secure a stable future. Start budgeting like a pro today!” Today, more than ever before, the ability to handle “the numbers” is one of the most important business skills employees can possess. Crunching numbers and coming up with a budget can be very challenging. When you’re running a business, it is easy to get bogged down in day to day expenditure and forget the bigger financial plans.
However, successful businesses invest time to create and manage budgets, prepare and review business plans and regularly monitor finance and performance. Every employee must understand how the strategic and planning advantages of a well-put-together budget can benefit your organization. Once your business is operational, it is essential to plan and tightly manage its financial performance. Creating a budgeting process is the most effective way to keep your business and its finances on track. Being responsible for the budgeting means you’re playing a vital role in your organization’s future. A budget enables one to pinpoint critical variables that impact profit thereby enabling a company successfully pursue business goals and create value. Therefore, this workshop will help its participants cut through layers of complex theory and confusing financial jargon and provide the “nuts and bolts” skills and techniques necessary to really understand the budgeting process.
LEARNING OBJECTIVES:
Personality Assessment Test: We conduct Personality Assessment Test on all our Course participants to help them understand their personality traits and dispositions.
At the end of the workshop, participants in addition, will be able to:
- Learn the difference between a Budget and a Forecast
- Learn the various steps of creating a budget
- Understand the different approaches to budgeting
- Understand the basics of production and raw materials budgeting
- Learn how to budget for new businesses
- Know the difference between budgeting for fixed expenses and for variable expenses
- Learn how to budget for payroll
- Understand how capital budgeting is different to other budgeting
- Learn about Return On Investment (ROI) in order to make good decisions about capital budgets
- Use variance analysis to assess performance against budget
- Learn about budgeting for projects.
COURSE CONTENT
- Basics and Benefits of Budgeting
- Difference between a Budget and a Forecast
- Different Budget approaches
- Components of a Master Budget
- Sales Budget
- Budgeting for a new business
- Budget templates for Unit Managers
- Budgeting for fixed and variable expenses
- Budgeting for production and raw materials
- Payroll and Headcount Budget
- Budgeting for contingencies
- Steps to creating a Budget
- Cash Budgets
- Budget review and variance analysis
- Capital Budgeting
- Investment Appraisal Techniques
- Budgeting For Projects.
TARGET AUDIENCE:
Financial Officers, Managers, Non-financial Managers, Entrepreneurs, Team Leaders and anyone with budget responsibilities who is interested in developing or improving his/her budget planning skills.