Financial Skills: Managing Budgets

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Course Overview

This course suits anybody that has a need to understand the basic premise of budgeting. Too frequently in business we ignore the value of our staff being aware of budgeting and its impact on a business.

Audience

Anybody that has a need to understand the basic premise of budgeting.

Skills Gained

What delegates will gain from the course:

• Greater understanding of budgeting principles
• An understanding of forecasting techniques
• An understanding of basic product costing

Course Outline

09:30 - 10:00 Coffee & Course Objectives

10:00 - 10:30 Glossary of Terms (A look at the jargon that surrounds finance and what it means in real terms)

10:30 - 11:15 The 6 Main Aims of Budgeting (Why is it important for a business to plan, implement and control budgets? Looking at Business Strategy)

11:15 -11:30 Coffee Break

11:30 - 12:15 Product Costing (Looking at examples of Product Costing and how to establish the ideal Selling Price)

12:15 - 13:00 Overhead Allocation (including an understanding of the decision to make or buy)

13:00 - 14:00 Lunch

14:00 - 14:30 How we forecast Income and Expenditure and what can impact on the plan

14:30 - 15:00 Forecasting Techniques (A brief look into the types of techniques available and what might influence management decisions)

15:00 - 15:15 Ratio Analysis (A look at what financial information may be available at a glance)

15:15 - 16:30 Management Accounting Package (An introduction to the Profit and Loss accounts, Balance Sheet and Cash Flow Financial Reports. This is the way in which we discover whether what was expected has actually occurred)

16:30 Summary & Action Plans Agreed

Financial Skills: Managing Budgets / Managing