Budgeting for Managers
Budgeting Course Aims
- To improve the financial competence of learners in the area of budget setting, management and control.
- To enhance both the underpinning knowledge of the subject and the ability to practically implement budget management techniques.
- To advance the participants skills and abilities and increase their effectiveness in their current or future job roles.
Budgeting Course Objectives
- To ensure that learners understand the importance of budget setting as fundamental to managing budgets
- To provide information on the different techniques and approaches to preparing and setting budgets, and how they should be applied
- To ensure learners understand budget drivers and how they impact on the budget setting process
- To give learners an opportunity to experience the budget setting process by undertaking exercises
- To encourage learners to be involved in the budget setting process within their own organisations by setting self-development activities
- To provide learners with information on budget monitoring and control techniques, including key areas such as variance analysis and projecting outturns, which will enable them to be effective in managing a budget
- To ensure learners understand the difference between budgetary control and cost control using illustrations
- To give learners an opportunity to use their knowledge to undertake exercises in budget analysis, budget monitoring, and decision making to control budgets
- To encourage learners to be involved in controlling budgets in their own organisations with self development activities
Budgeting Course Content
- Definition of a Budget
- Budget Setting Process
- Budget Setting Techniques
- Budget setting assumptions
- Demand led budgets
- Profiling Budgets
- Forecasting Income
- Key to Successful Budgeting
- Principles of Budget Monitoring
- Steps in the Monitoring Process
- Establishing Actual Income and Expenditure
- Commitment Accounting
- Variance Analysis
- Calculating Variances
- Reasons for Variances
- What to do about Variances
- Projecting Outturns
- Monthly Monitoring Routines
- Budget Control Drivers
- Uncontrollable Variances
- Taking Action to Control Budgets
- Budget Virement
- Budgetary Control reports
- Budgetary Control v Cost Control
- Responsibility for Budget Management
This course is ideal for:
- Anyone working within the public sector, such as local government, education, health, environmental services, social services, and emergency services, with any kind of budgetary responsibility.
- Anyone working in a non profit sector, including NGOs, Voluntary Organisations, Charities, and the Arts with any kind of budgetary responsibility.
- Anyone aspiring to elevate their role to management or senior management positions in these sectors.
- Finance and administrative staff supporting budget holders in these sectors.
- Progression to management roles within the public and non profit sectors, including to Director and Chief Officer levels. All of which require underpinning knowledge in budget management and control regardless of profession.
- Undertaking Continuing Professional Development which is a requirement for many professional bodies.
No prior knowledge is required for this course.
It is designed to be suitable for all levels of financial competency - beginner to experienced.
The trainers delivering this course are experts in their field. They are chartered accountants, and authors of 9 management books.