Successful Budgeting

Organisations frequently delegate financial responsibility to line managers who are not trained in finance.
This course will prepare them for this responsibility to effectively manage a key resource.

• Explain the basic principles of budget preparation and control
• Communicate budgetary information more effectively
• Recognise the importance of effective preparation in establishing realistic budgets

Any manager who is about to have budgetary responsibility or needs to be more effective in their management of budgets.

What you will learn:

• What is a budget? Where does it come from?
• Why do we do it?
• Good reasons for budgeting - benefits to the organisation of the delegated budget
• Cost behaviour and its relevance to budget setting and control
• The budget cycle - how it all comes together
• Planning and preparation for budgeting - what it takes to be effective in your preparation
• The 7 steps to successful budgeting - a guide to the key areas to master to help your success
• A practical budget setting exercise
• Tracking expenditure and variances - the need to monitor and take effective control action