Budgeting lies at the heart of business management, yet businesses often encounter financial difficulties as a result of either inadequate planning or errors within the compilation of the budgets. The process of budget preparation is sometimes seen as painful, and it is not always clear how the effort that is required leads to any productive output. Furthermore, budgets can be seen as imposing constraints that are hard to live with and establishing goals that are hard to meet!
Despite these dismal remarks, it is imperative that organizations carefully plan their financial affairs to achieve financial success. These plans are generally expressed as “budgets.” A budget is a detailed financial plan that quantifies future expectations and actions relative to acquiring and using resources.
The budgeting, planning and reporting training course will help demystify the world of budgeting and provide participants with the techniques and confidence to manage and control their budget effectively.
Financial terms and budgeting tools will be explained in a way that a non financial manager will understand and relate to in their own line of work. The trainer will use “real life” examples and case studies and encourage participants to work in small groups, working interactively and enjoy the subject!
Benefits to Organization
Identify risk areas early enough to rectify issues before they are serious
Plan and predict cash flows
Take control of what’s coming in and due to go out of the business
Separate out a sub-budget for growth with confidence in how much you can spend
Manage your sales pipeline and track performance against targets
Make more confident strategic decisions
Show potential investors
Provide to lenders for funding
After the training participants will be able to:
Learn how to implement advanced planning and control techniques into your budgeting process
integrate the budgeting process with the development of the company’s long-term strategic vision
Successfully build an integrated planning, budgeting and reporting process
Apply management tools to the budgeting process that contribute to strategic goals
Identify key performance indicators for effective and focused decision making
Increase profitability and performance through stream lined planning and reporting
Who Should Attend?
Financial officers and planners
Anyone who contributes to budgets and forecasts.
Anyone interested and wanted to develop his performance in finance
Module 1: Basics of finance
What is finance
Important financial organizations
Module 2: Understanding Financial Statement
Income statements (aka profit and loss statements)
Statement of retained earnings
Statement of cash flows
Module 3: Analyzing Financial Statements, Part One
Working capital ratios
Module 4: Analyzing Financial Statements, Part Two
Long term analysis ratios
Calculating return on investment (roi)
Module 5: Understanding Budgets
Common types of budgets
What information is required for budget?
Who should be involved?
What should a budget look like?
Module 6: Budgeting Made Easy
Factoring in historical data
Gathering related information
Adjusting for special circumstances
Putting it all together
Computer based methods
Module 7: Advanced Forecasting Techniques
Using the average
Formal financial models
Module 8: Managing the Budget
How to analyze you on the right track!
When and how should your budget be updated
Keeping a diary of lessons learned
When to panic?
Module 9: Making Smart Purchasing Decisions
10 questions you must ask
Determining the payback period
Deciding whether to lease or buy
Thinking outside the box
Module 10: A Glimpse into the Legal World
A brief history
The Sarbanes Oxley act
Thinking outside the box
Module 11: wrapping up
Completion of action plans and evaluations
NOT INTERESTED IN THIS COURSE?
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