Fundamentals Of Budgeting

Start Date: 28/08/2016

End Date: 29/08/2016

Program Duration: Two Days

Program Trainer: Gary Yourk

Language: English

Course Provider: Reyada Group

Program Objective

 

  • To learn the difference between a budget and forecast.
  • To learn the steps to creating a budget.
  • To understand the different approaches to budgeting.
  • To learn how to project current year sales.
  • To understand the basics of production and raw materials budgeting.
  • To learn how to do sales budgets.
  • To learn how to budget for new businesses.
  • To learn the difference between budgeting for fixed expenses and for variable expenses.
  • To learn how to budget for payroll.
  • To understand how capital budgeting is different to other budgeting.
  • To learn about Return On Investment (ROI) in order to make good decisions about capital budgets.
  • To understand how to allocate budgets properly by month.

Program Description

Successful budgeting skills are key for those who want to succeed in business, since budgets are related to a company’s strategic objectives and help decide the overall direction of the company. Getting budget numbers wrong can have severe consequences. But often managers and others responsible for budgets are just assumed to understand how to budget, even though there are many aspects of budgeting that are not ‘Intuitive’. Rather than learn by trial and error, you can get your budgets right the first time.

This course introduces you to the basic knowledge necessary for proper budgeting and then builds on that knowledge. Managers will learn to develop practical budgeting skills which will enable them to meet senior management’s expectations by consistently and continuously delivering operational objectives, while achieving financial performance goals.

Depending on delegate requirements, a short section on how budgeting for ‘non-profits’ is different to ‘for-profit’ budgeting may be included.
This course is very interactive, so there are no long periods of dry lectures. Budgeting is explained in practical, easy-to-understand language, and then reinforced with frequent exercises and activities.

Target

This programme is designed for those responsible for completing budgets for their departments, as well as those who are responsible for managing their company’s budget process, but have no formal training. It is useful for managers, as well as non-managers in any industry, from small companies to large.