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Effective Budgeting

Suitable for budget holders, cost centre managers, and those who manage department or event budgets who wish to acquire first principles or refresh ideas and approaches.

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Learning Objectives

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

  • Review the benefits and drawbacks of different budgeting methods, and when to use each approach.
  • Use a structured approach to prepare a budget.
  • Understand how costs behave to help with budgeting for expenditure.
  • Understand management accounting methods, and which methods we use for budgeting and for evaluating unbudgeted opportunities.
  • Budget appropriately for risk and defend budgeted contingencies.
  • Budget and plan for stock ordering.
  • Manage financial performance, understanding variances and taking action to achieve your budget and objectives.
  • Manage costs in seasonal or cyclical businesses.
  • Simply assess the viability of entering new markets or developing new products.

Pre-Requisites

None

Course Content

This course gives delegates the skills to manage departmental budgets, monitor divisional costs and apportion department expenses on an appropriate basis.

Exams & Certification

None

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