Advanced Budgeting Workshop
This practical course will prepare you for an exciting career in Management. Improve your prospects of career advancement by using this program as a foundation for further studies in this fast growing field. This qualification offers a unique, affordable, cost-effective opportunity for learners to ensure they meet the competitive market demands
· Acquire best practices in budgeting
· Understand the strategic role of cost concepts
· Explain the costs concepts to the use of cost information for management control
· Describe the role of budgets in the management process
· Discuss the importance of strategy and its role in the master budget
· Prepare a master budget and explain the inter-relationships among its supporting schedule
· Understand zero-base, activity-based, and kaizen approaches to budgeting
· Explain the essence of control systems
· Develop flexible budgets for evaluating short-term financial performance
· Identify different cost control measures
· Measure and evaluate performance
· Project management methods
· Budgeting Overview
· The budgeting process
· How and whom to engage
· Budgetary statements
· Budgeting Methods
· Top-down & bottom-up budgeting
· Zero-based versus activity based budgeting
· Types of Budgets
· Departmental budgets
· Cash budgets
· Capital and operating budgets
· Master budgets
· Types of Costs
· Fixed & variable costs
· Controllable & uncontrollable costs
· Budgeting and Forecasting
· Creating forecast for revenue and expenditure
· Rolling forecast as a catalyst for change
· Variance reporting template
· Reporting template
· Financial and non-financial (KPIs)
· Annual Budget and Forecasting Cycle
· Budget and forecasting timetable
· The different types of reports and their use
· Risk Management
· Risk management in corporate governance
· Finance’ role in supporting risk management
· Cost Control and how to reduce costs
· Cost management and motivation
· Embedding cost control in the business
All levels of Management, Executives and Team Leaders, who manage work teams or employees and who are responsible for creating conducing work environment infused with positive culture to engage employees.