Finance & Budgeting

Who Should Attend:

• Managers, Supervisors and Team Leaders who analyse, forecast & budget
• Accountants and professionals responsible for the budgeting process
• Newly appointed staff keen on learning all about budgeting

Course Objectives

• Step by step processes to crafting a budget from the beginning
• What are the different types of budgeting
• Understand the basic difference between a budget and a forecast
• Budgeting Sales and understand how to plan the current years sales
• Clearly understand the process of budgeting under varying scenarios such as, budgeting for a new business, budgeting for a payroll, cash budgeting, capital budgets, production and raw material budgeting and project management budgeting
• How does budgeting for fixed expenses vary from budgeting for variable expenses
• Learn about monthly allocations.

What will you gain ?

• Understand the nature, purpose, structure and major elements of a financial statement and a budget
• Use and apply all important and necessary budgeting terms and techniques
• Compile and interpret budgets, carry out analysis and gain experience on creating your company/departments financial statements
• Learn that budgeting process is not intuitive and understand the practical aspect of the process
• Prepare, monitor and control a budget.

Course Content

• Advantages of budgeting
• Key differentiating factors – Budget and Forecasting
• Types of Budgets
• What is a Master Budget?
• Sales Budget and its components – Projections, Sales Plans and Life Cycle of a Product
• New Business Budgets
• Budgeting templates
• Fixed and variable expenses
• Production and raw materials budgets
• Contingency Budgeting
• Income and financial statements

• Making budgets – step by step
• Cash budgets
• All about studying budgets, types of variances and variance analysis
• Capital budgets
• Project Management budgeting
• IRR, ARR, Payback and Present Values
• Conclusion.