Budget Management Training
Introduction
To manage budgets effectively, organisations need to be satisfied that the budget will balance and ensuring that all, operational, financial and legal requirements are met.
Good financial management should ensure that staff in charge of delegated budgets, both for administration costs and programme expenditure, have clear guidance on the size of the budgets, what they may be used for and how far they can be varied.
This training course focuses on giving delegates the skills, knowledge and guidance on how to manage budget responsibilities effectively.
Overview
Ideal for new and existing budget holders who want to learn how to take the pain out of managing budgets:
- Reducing the time to produce a budget.
- Dealing with opportunities in the face of budget restrictions.
- Including contingencies for future uncertainty.
Who should attend
This course deals with management accounting and is suitable for budget holders, cost centre managers, and those who manage department or event budgets who wish to acquire first principles or refresh ideas and approaches.
- First Time Managers
- Supervisors
- Team Leaders
- Sales Managers
- HR Professionals
- Project Managers
- Change Managers
- New Managers
- Staff Looking To Progress Into A Management Position
Course Content
By the end of this course you will be able to:
- Review the benefits and drawbacks of different budgeting methods, and when to use each approach.
- Use a structured approach to prepare a budget.
- Understand how costs behave to help with budgeting for expenditure.
- Understand management accounting methods, and which methods we use for budgeting and for evaluating unbudgeted opportunities.
- Budget appropriately for risk and defend budgeted contingencies.
- Budget and plan for stock ordering.
- Manage financial performance, understanding variances and taking action to achieve your budget and objectives.
- Manage costs in seasonal or cyclical businesses.
- Simply assess the viability of entering new markets or developing new products.
This course covers the following:
Budgeting Preparation
- Overview of the budget process
- Case study: reviewing a simple budget scenario
- Being clear about initial assumptions and limiting factors
- Knowing where to find information that might be needed
- Analysing potential income and expenditure: what events and occurrences do we need to consider?
- Internal, external, definite and uncertain
- Nature and behaviour of costs
- Understanding different costing methods and their relevance to decision making and budgeting
- Stock forecasting and how to calculate the minimum quantity needed
- Apportioning overheads
- Budgeting for risk and contingencies
- Break-even analysis for simple decision making
Facing the Actuals
- What are the variances and why are they important?
- The budget is the plan, i.e. understanding the need to proactively work towards budget and adhere to budget.
- Comparing actual costs to monthly and year to date budget
- Understanding the significance of changes in variances
- Flexing the budget
The Cash Budget
- Why they are needed. Do high profits necessarily mean everything is going well?
- Case study: preparing a cash budget
Presenting the Departmental Budget
- Giving clear information
- Presenting the main variables
- Getting agreement - ensuring you agree an achievable budget in the face of potential budget cuts
- Personal Development
- Action planning - the essential next steps
- Continuous professional development - what next?
Cost
This one day training course can be delivered "in house" to your organisation network or partnership at the rate of just £749 per day.
To find out more about "in house" training with the CSP Academy please click here
To book this course now click the book online button below.
To discuss this course further please contact us on 0845 299 7144 or email learning@cspacademy.ac.uk.
|
0845 299 7144
Part of the Safety Net Associates Group