Budgeting, Forecasting and Planning Process

Course Introduction

The course covers a very wide range of budgetary and costing techniques across the spectrum of both public service and commercial sectors. Topics stem from strategic considerations and the role that Financial Management and Performance Management must play. We move on to the types, behaviour, and characteristics of costs in the public & private sectors and in particular the ways they can be managed.  Particular emphasis is given to the challenges currently facing executives in delivering continued high-quality services in an environment of continual financial constraints due to challenging global conditions like inflation.

The latter part of the week is focused upon the different styles of budgeting that are needed by managers to respond to their particular financial imperatives. The course employed plenty of interactive discussions and exercises to reinforce the learning requirements. All delegates are encouraged and challenged to investigate for practical actions along with enhanced knowledge and understanding of the subject.

Objectives

The participants will be able to:

• LINK budgets to the strategic planning process
• GAIN understanding of best budgetary practice.
• CHOOSE the appropriate accounting method.
• CONSTRUCT a budget from scratch.
• APPLY costing and forecasting tools and techniques.

Training Methodology

Training will be conducted face to face using a variety of live practice, theory, personal shared experience, and case study challenges to frame the learning. The course workbook will include many real life examples of the topics under discussion ad there will be knowledge check quizzes for delegates to complete throughout the sessions, Also, at the rear there will be a series of articles, aide memoires and bullet points on the key commercial issues covered The delegates will look at videos and, where appropriate, work in groups with real-life Excel case studies to improve their knowledge of this key part of Business Finance.

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Professional Impact

The participants will:

• UNDERSTAND methods of cost control that they can apply.
• BE ENABLED to use budgets to monitor staff and project performance.
• UNDERSTAND the differences between budgets and forecasts.
• RELATE the budgets to the Balance Sheet and the P & L:
• LEARN to report &stress test their budgets prior to approval.

Daily Topics

For Registration & more information please contact

Technergy Training

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