Budgeting is perhaps one of the most time-consuming process undertaken by managers. As companies are under continuous pressure to improve performance, it is imperative that managers have a good understanding of how to carry out their budgeting and how it fits within the objectives of their organization. This training course presents the information needed in a clear, concise and logical manner.

Prerequisites

Global Objectives

• Explain why an organization needs to plan.
• Define the three tiered decision-making process which enables an organization to achieve its stated mission.
• Differentiate between strategic planning and budgeting.
• Outline the purpose of budgeting within the overall planning process.
• Describe the two main types of budget.
• State what is meant by an external driver and give examples.
• Identify the three areas which need to be considered when undertaking a strategic analysis of the organization.
• Explain how effective budgetary planning can increase the performance of your company.
• Describe the value chain.
• Describe the stages in preparing a budget.
• Explain the budget approval process.
• Explain the compilation of master budgets.
• Show the importance of budgetary control.
• Explain the methods of budgetary control.
• Explain performance monitoring and measurement in budget implementation.
• State the basic requirements for revenue budgeting administration.
• Give an overview of the preparation of the different revenue budgets.
• Explain the reasons for capital budgeting.
• Explain the uses of capital budgeting.
• Outline the techniques of capital investment appraisal.
• Explain the importance of incorporating risk into the capital investment decision.
• Prepare an Income Statement.
• Prepare a budgeted Balance Sheet.
• Prepare a cash budget.
• Explain the importance of good planning.
• Explain cost behaviour in performance measurement.
• Explain variance analysis and interpretative techniques.
• Explain Give an overview of the consequences that flow from performance analysis and implementation.

Target Audience

Target Time