Managing Budgets

This course will help you manage your budgets more prudently and make sound financial decisions.

Overview:

This course is for anyone who needs to understand the basics of budgeting. In business we often ignore the value of our staff being aware of budgeting and its impact on the business.

By attending this course delegates will:

• Gain greater understanding of budgeting principles
• Understand forecasting techniques
• Understand basic product costing

Suitable for:

Anybody who needs to understand the basic principles of budgeting

The Programme Topic Areas are:

• Glossary of terms - a look at the jargon that surrounds finance and what it means in real terms)
• The 6 main aims of budgeting - why is it important for a business to plan, implement and control budgets?; looking at business strategy
• Product costing - looking at examples of product costing and how to establish the ideal 'selling price'
• Overhead allocation - including an understanding of the decision to 'make' or 'buy'
• How we forecast income and expenditure and what can impact on the plan
• Forecasting techniques - a brief look into the types of techniques available and what might influence management decisions
• Ratio analysis - a look at what financial information may be available at a glance
• Management accounting package - an introduction to the Profit and Loss accounts, Balance Sheet and Cash Flow Financial Reports. This is the way in which we discover whether what was expected has actually occurred.
• Summary & action plans agreed