The Essentials of Budgeting & Cost Control Course

Overview
Course Outline
Scheduled 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

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

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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The Essentials of Budgeting

Course Overview

Course Outline

Day 1- Understanding the Planning and Budgeting Cycle

Day 2 - Tying Strategic Planning to the Budgeting Process

Day 3 - Understanding the Budget Preparation Process

Day 4 - How to Prepare an Operating Budget

Day 5 - Measuring Performance against the Budget

Schedule & Fees

3 For 2Offer

$4,900

Duration: 5 Days

date: 06 - 10 Jan 2025

$4,900

Duration: 5 Days

date: 05 - 09 May 2025

$4,900

Duration: 5 Days

date: 04 - 08 Aug 2025

$4,900

Duration: 5 Days

date: 03 - 07 Nov 2025

Duration:5 Days

date:06 - 10 Jan 2025

$4,900

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