Course Overview
Course Introduction
The Fundamentals of Budgeting course is a comprehensive training program designed to equip participants with the essential skills required to understand and manage costing and budgeting processes within organizations.
This course addresses all critical aspects of cost analysis, budget preparation, and performance measurement. It is highly recommended for professionals seeking to master budgeting techniques, understand cost behavior, and produce realistic and effective business plans.
This HPC training course enables participants to:
- Identify the Key Factors required to understand Business Processes
- Develop Proper System of Cost Analysis for Budgeting Purposes
- Master the Budgeting and Financial Skills required for better Decision-Making
- Identify Sources of Financial and Operational Data to Support the Budgeting Process
- Learn New Best Practices to Manage Organisational Performance
Course Objectives
The participants on this training course will be able to:
- Get a comprehensive understanding of budgeting concepts.
- Know how to create, manage, and monitor budgets effectively.
- Gain the skills necessary to analyze variances and make informed financial decisions.
- Learn how budgets are used for performance measurement and control.
- Understand various approaches to budgeting
- Master traditional Techniques and recent Best Practices
- Link Finance and Operation for Budgeting Purposes and Strategy Execution
- Learn How to Build a Comprehensive Performance Measurement System
Course Audience
Non-Financial Professionals – Staff in operations, HR, marketing, or IT who are involved in budget planning or monitoring.
Executives or Decision-Makers – Who need a clear understanding of budgeting principles to support strategic decisions.
Entrepreneurs or Small Business Owners – Who handle their own budgeting but don’t have formal finance training.
Course Methodology
Course Outline
- Why Strategy comes before the Budget
- The Strategic Planning Process
- Developing a Strategic Plan
- Evaluating the Legal, Economic, Political & Social Environment
- Strategic Planning Tools
- Linking the Budget with the Strategy
- What is Forecasting?
- Strategic Role of Forecasting
- The Forecasting Process
- Qualitative and Quantitative Forecasting Methods in Excel©
- Forecasting Demand, Revenue & Costs
- Dealing with the Limitations of Forecasts
- What is a Budget ?
- Budget Preparation
- What is the Purpose?
- Advantages of Budgeting
- Limitations of Budgeting
- The Benefits & Limitations of Budgets
- Budget Methods – incremental, zero-based, rolling budgets and Activity Based Budgeting
- Budgeting and the Management Process
- Preparing Departmental Budgets from Forecasts
- Building the Master Budget
- Linking Strategic Planning, Forecasting Budgeting and Reporting
- Budget Cost, Volume, Profit (CVP) and Break-Even Analysis
- Managing Fixed and Variable Costs
- Sensitivity & What-If Analysis
- Budgetary Control
- Variance Analysis
- Capital Budgeting Principles
- Raising Finance
- Weighted Average Cost Of Capital (WACC)
- Methods of Evaluating Capital Investment Projects
- Comparing Different Projects And Their Returns
- Managing Financial Risk
Certificates
Training Schedule and Fees
No upcoming courses