Financial Skills: Budgeting

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Course Overview

Businesses often encounter financial difficulties as a result of either inadequate budgeting or errors within the compilation of the budgets. This course takes a practical approach to financial planning for the organisation and considers: the compilation of budgets; how to identify potential problems arising and suggests actions which can be taken. It also looks at ways of improving financial control using budgets, so as to avoid reduced profits and /or financial problems. It also provides opportunities for participants to apply the course content to practical examples.!

Audience

Managers and staff involved in the preparation, review or use of financial budgets.

Skills Gained

• Using the 'Zero-based' approach
• Analysing variances and corrective action
• Updating and Flexing the budget
• Presenting the budgets
• Avoid the common pitfalls

Course Outline

• Basic concepts explained
• The key budgetary statements and their compilation
• The need to plan
• Basic concepts explained
• Budgeting as part of the business plan
• The budgeting process
• The key budgetary statements
• Compiling the budgets - avoiding the pitfalls
• Using the 'Zero-based' approach
• Interaction between the statements
• Reviewing the budgets
• Using Variance Analysis
• Identifying corrective action
• Flexing the budget
• Updating the budget - alternative approaches
• Presenting the budget
• Action Planning.

Financial Skills: Budgeting / SB