Finance & Budgeting

Budgeting Basics

Study Budgeting Basics to Improve Decision Making – Active Learning through Practical Exercises


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 ?

By the end of this course you will be able to:
  • 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

Day 1 
  • 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
 Day 2 
  • 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.

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