BUDGET AND BUDGETARY CONTROL PROGRAMME

Course Description

Modern businesses are an epitome of uncertainty and complexity. Over the period, this uncertainty and complexity in business has led to the development of various managerial tools, techniques and procedures useful in managing business successfully. Of all these, budgeting is the most common and widely used standard device for planning and control. Budgeting should deliver the corporate strategy, add shareholder value and lead to a well-run business – for the benefit of all involved in it.

This course provides fundamental understanding of budgeting, budgeting process and includes a practical guide for preparing and mastering financial budgets. It is further designed to enable delegates to make corporate financial decisions in an increasingly volatile international marketplace in order to increase profitability, maintain liquidity and reduce financial risk.

Target Group

• All managers
  • Supervisors
  • Analysts who prepare or use management budgets.

Course Objectives

By the end of this training programme, participants will be able to:

• Take ownership of the budget.
• Defend the importance of linking an organization’s budget with its strategic plan.
• Demonstrate how the budget relates to the key financial statements: balance sheet, income statement, and cash flow.
• Apply cost control tools, analyze management variance reports and take proper corrective action.
• Calculate different capital budgeting evaluation techniques as included in a capital expenditure proposal.
• Utilize cost-volume-profit analysis in making budgeting decisions
• Appreciate the importance of reducing unnecessary departmental costs and working towards increased corporate profitability.