Advanced Budgeting

Course Overview

Go beyond the basics of financial management to analyse in more detail what drives sales and costs. Build a budget model which makes sense for your organisation, and reflects your patterns of activity. Manage people's behaviour to achieve performance, ensuring teams are motivated, and budgets are appropriately communicated. Look at various techniques including balanced scorecard, sensitivity analysis, and some sector-specific models.

Audience

This course is for those who already possess intermediate financial/budgeting skills, and who wish to explore better ways of creating and managing budgets, or those with an existing accountancy qualification.

Skills Gained

• Better understanding of how to build up a budget for your organisation or department
• Techniques to identify what drives costs in your organisation
• Tips and tricks to improve your sales budgeting and forecasting
• Improved ability to use your budget to encourage performance
• Understanding of some of the newer techniques for budgeting and forecasting

Prerequisites

This course is for those who already possess intermediate financial/budgeting skills.

Course Outline

• Modelling your organisation's activity
• Identifying cost drivers
• Techniques for predicting sales and income
• Networking to improve your budget's realism
• Floor and stretch targets
• Bonus and incentive schemes
• Splitting up performance into managed segments
• Cost allocation techniques
• Rolling out an organisational budget
• Using spreadsheets and software
• Balanced scorecard
• Sensitivity analysis
• Matching the budgetary system to your kind of business