This Budget and Cost Control training course takes a practical approach to financial planning for the organisation and considers: the compilation of budgets; how to identify potential problems arising and suggests 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, providing opportunities for participants to apply the course content to practical examples. The training program outline is up to date and pertinent to marketplace requirements, thus catering well to all analytical prediction of training needs in the specified area. A customised proposal can also be arranged, to suit the training requirement of your team.
This Budgeting and Cost Control course will teach you:
•Basic concepts of budgeting
•Analysing variances and corrective action
•Updating and Flexing the budget
•Preparing the budgets and forecast
•Budgeting to control costs
- The importance of budgeting
- What are its aims?
- How do we make budgets effective?
- 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 Preparation 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.