In every sector of the economy or industry you are, we all agree that money matters.
Being the most important financial document, the budget is at the center of all planning.
Therefore, it is important that all officers engaged in the budget making process are well equipped to undertake this process.
At a personal level, budgeting skills help you understand simple budgeting methods that are very essential in daily life. Skills such as costing come in handy when you are planning at an individual level. As an organization, budgeting skills broaden your knowledge on performance management techniques and provide awareness on both financial and non-financial implications of the budget process.
TARGET AUDIENCE
Anyone can take this course. However, specific professionals would find it more effective;
•Budgeting managers
•Finance Controllers and Accountants
•Officers in Economics, Strategy and Planning
COURSE OBJECTIVE
•Equip participants with global acceptable techniques of handling the budget
•Assist participants in understanding the concept and principles of budgeting.
•Help individuals with no financial background to understand the budgetary environment including related terminologies.
•Outline the challenges faced through the management of budgets.
•Help them organize and interrogate budgetary information.
•Forecasting sales and budgetary.
•Assist participants acquire comprehensive performance measurement skills towards informed decision-making.
COURSE OUTLINE
Module I: Understanding the budget.
•What is a budget?
•The Benefits and limitations of budgeting.
•Why is costing fundamental?
Module II: The role of budgeting in management process.
•The role of budgeting within management accounting.
•Linking budgeting to strategy.
•Linking budget to operations and the operating plan.
•Reporting on budgets.
•Budgetary control.
•Analysis and evaluation of budget performance.
Module III: Types of budgets.
•Types and methods of budgeting.
Module IV: Preparing a budget.
•Elements of the budget framework.
•Key concepts and terms in budgeting.
•Understanding financial statements.
•Costing for budgeting.
•Costs; fixed vs variable.
•Costs; direct vs indirect.
Our Approach
Our budgeting training explains financial terms and budgeting tools in a way that a non-financial manager will understand and relate to, in their own line of work. The trainer will also use “real life” examples, case studies and encourage participants to work in small groups, whilst enjoying the subject!