Financial Skills: Budget Construction And Control

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Course Overview

Understand purpose and importance of budgeting and cash planning. Gain a clear understanding of budget preparation. Develop strategies for controlling spend in line with budget forecast. Use budgets as a management tool.

Audience

Those who are involved in the preparation, implementation, review and use of budgets.

Course Outline

• The Need To Plan: how the budget fits into the organisations strategic plan
• the link to corporate Financial Statements.!

• Budget Compilation - Considerations: limiting factors
• behavioural issues
• communication and control.

• Compiling The Key Budgetary Control Statements: the trading budget
• the profit and loss budget
• the capital expenditure budget
• the cash flow forecast
• interaction between the statements.

• Budgetary Approaches: the fixed budget
• the flexed budget
• the zero based budget.

• Supporting And Reviewing The Budget: basis of support
• applying the key performance monitors.!

• Presenting The Budget: maintaining credibility
• a non-confrontational approach.!

• Revenue And Capital Expenditure: budgetary considerations
• phasing of capital spend
• implications for budget holders.

• Profit And Cost Centre Concepts: allocation of costs
• apportionment
• planning for the future.

• Using Budgets: decision making based on forecast - actual and budgeted
• budgets as a management tool.!

Action Plan: participants plan and discuss what they will actually do upon their return to work.

Financial Skills: Budget Construction And Control / CM4224