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The Essentials of Budgeting

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  • Overview ImageOverview
  • Outline ImageCourse Outline
  • Scheduled ImageScheduled Dates

Course Overview

This course provides a comprehensive overview of the fundamental budgeting principles, a critical aspect of personal and professional financial management. Designed to help individuals and organisations effectively plan and control their finances, The Essentials of Budgeting covers various topics, including budget preparation, cash flow forecasting, budget monitoring and control, and performance analysis.

Participants will learn the step-by-step process of creating a realistic budget, understanding how to adjust it according to changing circumstances, and using it as a tool for decision-making. They will also gain insights into various budgeting techniques and approaches in different scenarios.

Through a combination of theory, practical exercises, and case studies, participants will leave the course with a strong understanding of budgeting essentials and the confidence to apply this knowledge in their personal lives or within their organisations.

Objective:

By the end of the program, participants will be able to:

 

  • Define Planning and Its Purpose within Your Organisation
  • Describe the Planning and Budgeting Cycle
  • Explain the Strategic Planning Process
  • Perform a Strategic Analysis of Your External and Internal Environment
  • Explain the Different Types of Budget Preparation Methods and Identify the Most Appropriate One for Your Organization
  • Describe and Perform the Basic Steps in Preparing an Operating Budget
  • Prepare a Departmental Spending Budget
  • Identify Opportunities for Cost Reduction
  • Manage Departmental Performance against Your Budget
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Course Outline

Day 1- Understanding the Planning and Budgeting Cycle

  • Define Planning and Its Relationship to the Budgeting Process
  • Explain Why Companies Budget
  • Describe the Planning Cycle in a Typical Organization

 

Day 2 - Tying Strategic Planning to the Budgeting Process

  • Explain the Strategic Planning Process
  • Explain How Strategic Analysis Is Related to the Planning and Budgeting Process
  • Perform a Strategic Analysis of the Internal and External Environment

 

Day 3 - Understanding the Budget Preparation Process

  • Describe the Typical Flow of the Budgeting Cycle in an organization
  • Identify the Major Contents of the Annual Business Plan
  • Explain the Different Types of Budgets, Their Purpose, and Limitations
  • Explain the Relationship between Budgets and Forecasts
  • Identify Ways to Improve the Budgeting Process in Your Organization

  

Day 4 - How to Prepare an Operating Budget

  • Explain the Sequence of Steps in Preparing an Operating Budget
  • Prepare a Sales and Cost-of-Sales Budget
  • Calculate Labor Hours Available and Use This Figure to Plan Headcount
  • Calculate Budgeted Overhead Rates
  • Budget Labor, Materials, and Overhead Costs in Total and Per Unit

 

Day 5 - Measuring Performance against the Budget

  • Identify Significant Variances
  • Analyse Budget Variances
  • Describe the Characteristics of a Good Budget Reporting System
  • Determine When a Budget Should Be Revised during the Year
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Schedule & Fees

3 For 2Offer

Get the most out of group training with our special discount! Register 3 of your participants together on the same course and only pay for 2.

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London

London

$4,900


Duration: 5 Days

date: 09 - 13 Dec 2024

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London

London

$4,900


Duration: 5 Days

date: 06 - 10 Jan 2025

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London

London

$4,900


Duration: 5 Days

date: 05 - 09 May 2025

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London

London

$4,900


Duration: 5 Days

date: 04 - 08 Aug 2025

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London

London

$4,900


Duration: 5 Days

date: 03 - 07 Nov 2025

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  • Finance and Accounting

The Essentials of Budgeting

Duration:5 Days

date:06 - 10 Jan 2025

London

London

$4,900


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    All our courses are accredited by the CPD Standards Agency

Frequently Asked Questions

How can training courses be used as a company benefit?

Training is hugely beneficial to both yourself and your company. It enables you to employ new technologies, increases your productivity and enables you to be more autonomous. Have a look here at our infographic on the importance of training and development!

How often do you update your course content to ensure relevancy?

Our course content is constantly reviewed and updated to ensure we stay up to date with all the latest trends. After every course is completed we review the feedback and improve the material where necessary.

Do you keep your classroom environment and instructional methodologies current with today’s real-world workplace?

Yes, we focus our training on ‘real-world’ scenarios and our trainers are all highly experienced and skilled in their relevant fields.

Are your courses eligible for professional certification?

Yes, we offer certification with all our courses, every course is entitled to CPD (Continuous Professional Development) hours which you can put towards your professional portfolio.

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The Essentials of Budgeting

  • United KingdomLondon
  • calendar06 - 10 Jan 2025
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  • United KingdomLondon
  • 06 - 10 Jan 2025
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