This program is designed for those responsible for preparing / completing budgets for their departments, as well as those accountable for managing their organization’s budget process, but who have had no formal training or experience. It is very useful for managers and non-managers in any industry, from small to large companies / organizations, who need to keep a tight control on costs in a challenging business environment.

Successful budgeting skills are key for those who want to succeed in business, since budgets are related to a company’s strategic objectives, and help decide the overall direction. Getting budget numbers wrong can have severe consequences. But often, managers and others responsible for budgets are just assumed to understand how to budget, even though there are many aspects of budgeting that are not ‘intuitive’. Rather than learn by trial and error, after this program you can get your budgets right the first time!

This course introduces you to the basic knowledge necessary for proper budgeting, and then builds on that knowledge. Delegates will learn to develop practical budgeting skills, to enable them to meet senior management’s expectations, by consistently and continuously delivering operational objectives, while achieving financial performance goals.

Depending on delegate requirements, a short section on how budgeting for ‘non-profits’ is different to ‘for-profit’ budgeting, may be included.

This course is very interactive, so there are no long periods of dry lectures. Budgeting is explained in easy-to-understand language, and then reinforced with practical exercises and activities.

• To learn the difference between a budget and a forecast
• To learn the steps to creating a budget
• To understand the different approaches to budgeting
• To learn how to project current year sales
• To understand the basics of production and raw material budgeting
• To learn how to create sales budgets
• To learn how to budget for new businesses
• To learn the difference between budgeting for fixed expenses, and budgeting for variable expenses
• To learn how to budget for payroll
• To understand how capital budgeting is different to other budgeting
• To learn about Return On Investment (ROI) in order to make good decisions about capital budgets
• To understand how to allocate budgets properly by month
• To understand how to set up a cash budget
• To use variance analysis to assess performance against budget
• To learn about budgeting for projects

• Greater confidence from senior management, fellow managers, and subordinates, by demonstrating budgeting competence
• Firm knowledge of budget terminology and techniques
• An ability to make meaningful contributions to the company’s budget process
• Many practical techniques which will take the mystery out of the budgeting process