Budget Preparation

Category: Budget Preparation

Course Description

Budget Preparation Skills is a comprehensive program that focuses on the essential skills required to understand the processes of costing and budgeting within organizations. The program is designed to address all the relevant issues concerning cost analysis, budget preparation and performance measurement. This training program is a must for all professionals who need to master their budgeting skills by learning how costs behave so that realistic business plans can be produced.

This is a hands-on training program and its main focus is to comprehend the participants with practical knowledge and skills on budget preparation. It is ideally suited for accounts & finance staff, head of the departments and corporate planning staff.

Objectives

  • Learn costing and budgeting terminology used in business
  • Understand the importance of a well-defined costing and budgeting process
  • Determine full costs of outputs for the goods and services provided
  • Master traditional techniques and recent best practices
  • Link finance and operation for budgeting purposes and strategy execution
  • Learn how to build a comprehensive performance measurement system

Who Should Attend

  • Financial professionals, R&D professionals, sales/marketing professionals, general accounting professionals, business unit professionals
  • Anyone who wants to understand the basics of budgeting and costing

Course Outline

  • Budgeting and its role within the management process

    • The role of budgeting within management accounting
    • Linking costing and budgeting to strategy and performance measurement
    • The process of value creation: implications for budgeting
    • What is a budget and why costing is fundamental
    • Budgets – the financial expression of the operating plan
    • Linking financial and operational issues

    Cost Analysis for Budgetary Purposes

    The Framework for Budgeting

    Flexible budgets and variance analysis