Managing Budgets

Managing Budgets

This managing budgets 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

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

Training Benefits
Greater understanding of budgeting principles
An understanding of forecasting techniques
An understanding of basic product costing

Do you want to be able to understand, create and manage budgets?
Do you need to fit your budget to your organisation’s strategic plan?
Managers need to be able to understand budgets, whether for a specific project or a team budget. This course enables you to understand why budgets are important. Emphasis will be placed on setting a zero budget, and the importance of planning, controlling and reviewing the budget to ensure it is a meaningful activity. Seasonalising or profiling the expenditure will be considered and participants will have the opportunity to acquire and practice these budgeting skills.

You will benefit from this course if you manage a budget or would like a greater understanding of budget management.

By the end of the course you will be able to:
understand why budgets are important
use budgets as a management tool
understand the forecasting and budgeting process
present clear information and the main variables
reconcile actual expenditure with budgeted expenditure
identify cost saving opportunities
provide information on which decisions can be made
know the principles of the nature of costs, overheads and break-even analysis
have produced a personal action plan for implementation back at the workplace
What does the course cover?
Establish personal objectives for the course
The essence of managing budgets
The budgeting process
Benefits of budgeting
Budgeting techniques
Measuring the performance of resources
Fixed and variable costs
Calculating the break even point
Variance analysis
Expenditure
Cash flow projections
Managing your accounts
Completion of a personal action plan
Related courses from which you may also benefit:
Managing people in a project environment
Problem-solving and decision-making

This course covers budgets and how they are used in organizational settings. You will gain an understanding of the uses and functions of master budgets, operating budgets, sales, production and cost of goods sold budgets, and cash budgets. You will also learn how organizations are using different budgeting techniques to deal with operating challenges.

After completing this course, you’ll be able to:

Explain the uses and functions of budgeting
Describe different types of budgeting
Explain the use of a master budget
Understand how a master budget is created
Describe how an operating budget is employed

Understand how sales, production and cost of goods sold budgets are created
Explain the uses of a cash budget
Describe how the budget process can be managed for optimal results
This course is self-paced and online. You will have access to this course for 30 days. Upon successful completion, you will receive a Winchester Center for Management Development certificate of completion.

Ideal for budget holders with one to three years experience who want to learn how to take the pain out of managing budgets.

This course gives delegates the skills to manage departmental budgets, monitor divisional costs and apportion department expenses on an appropriate basis.

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