This Budgeting & Cost Control workshop takes a practical approach to financial planning for the organisation and considers: the compilation of budgets;
how to identify potential problems arising and suggest actions which can be taken. It also looks at ways of improving financial control using budgets, so as to avoid reduced profits and/or financial problems.
Objective
- Our Budgeting & Cost Control course will teach you:
- Basic concepts of budgeting
- Budget types
- Analysing variances and corrective action
- Updating and Flexing the budget
- Preparing the budgets and forecast
- Budgeting to control costs
Introduction
- The importance of budgeting?
- What are its aims?
- How do we make budgets effective?
Budget Types
Capital, revenue and cash distinctions How do these relate to the basics of a balance sheet, profit & loss account and cash flow statements Concept of accruals
Budget reparation Process
- Constructing forecasts
- Limiting factors
- Sensitivity analysis
- Break-even analysis
- Preparing a forecast
- Using the budget to control
- Variance analysis
- Flexible and static budgets
Who Should Attend
Administrators & financial workers looking to improve their budgeting skills and small businesses who want to take a practical approach to their finances.
Duration
2 Days.
