Duration:                      1 day course

Delegates:                   up to 10 max

This course is aimed at developing a range of skills and techniques to enable delegates to apply the fundamentals of budgeting and forecasting.

The objectives of the course are:

a)    To show the link between the corporate plan and operational budgets

b)    To define the techniques of setting budgets and forecasts

c)    To demonstrate the use of budgets and forecasts as business tools

Course Outline:

Budgets in Context

• defining budgets and budgeting
• the benefits of budgeting

Setting Budgets

• translating the corporate plan into business goals
• setting targets and objectives
• budgeting from a zero base
• using financial tools

Managing Budgets

• monitoring actual results against budget
• interpreting and using variances
• setting indicators for maximum benefit

Forecasts as a Management Tool

• the use of forecasts and why they are nearly always wrong
• the areas and items to be included
• accuracy versus materiality

Action planning and feedback