Course description
Tough economic times challenge managers to be good leaders. This is especially true when it comes to dealing with financial issues. Economic pressures can cause indecision and poor decisions when it comes to budgeting. Unfortunately many managers have not had sufficient training to meet the challenge of developing effective budgets – even in good times.
Effective budgets are vital for the good management of any organisation. As strong financial management is critical for organisational success, it is crucial that anyone involved in the budget creation and/or budget management process is well trained in practical techniques for doing so. Budgets are used for decision making, cash flow planning and operational judgements as well as forming part of the business planning process and so play a central role in the running of any organisation.
This program teaches the participant how making budgeting a compelling, interesting tool. Useful techniques for evaluating the present costs and budget, identifying organizational inputs & outputs, preparing for problems, and attaining monetary objectives will be learned by participants.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
This Budgeting For Managers Course Ideal for:
- All managers and management employees and their assistants who are involved in the budgeting process.
- All who needs to set and manage budgets but don't have the expertise or specific training in this area of finance.
Outcome / Qualification etc.
The benefit of the Budgeting For Managers Course will be the following:
- Recognize the concepts, strategies and practices applied to each business
- Identify just how budgeting techniques, principles, practices and techniques apply
- Assess the use of the budget forms
- A greater understanding of budgeting principles
- An understanding of forecasting techniques
- An understanding of basic product costing
Training Course Content
Day 1
- Introduction
- Assess organization existing spending budget, manager ‘s funds, spending budget forms, and pre-budgeting activity
- Recognize natural issues in the process of budgeting
Day 2
- Evaluate just how budget plans enable the presence of inherent issues
- Recognize the “must” components of preparing a budget
- Evaluate your finances plans
Day 3
- Identify as well as determine an organization ‘s outputs
- Determine what settings those outputs
- Verify tkinds of the organizational inputs
- Intergrate the inputs especially to your organization
Day 4
- Identification of costs & cost drivers
- Preparation for uncertainty
- Realizing assumptions as vital tools to overcome uncertainty
- Determine uncontrollable internal factors and outside environmental factors
- Provide individuals with resources to properly communicate problems and opportunities in meaningful terms to employers, subordinates, and peers
Day 5
- Recognize the sources of budget numbers
- Specify the crucial questions that should be answered prior to revenue forecasting
- Recall the concepts of proper cost budgeting
- Verify the various kinds of capital expenditures
- Formulate procedure for getting budget approval
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London Premier Centre
London Premier Centre is a UK leading training provider based in London and specialises in international short courses. Our inspiring, comprehensive portfolio of more than 400 professional development courses and seminars covers a wide range of professions from Administration, Leadership,...