Course Overview

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About the Programme

All organisations need to manage performance so that their financial and strategic objectives are achieved, thus management and financial stakeholders can be confident in the associated control processes. The proper construction and control of budgets is central to this, to safeguard the organisation’s viability and the effective delivery of its objectives.

This requires a comprehensive financial planning and approval framework; consistent and rigorous processes for constructing budgets, both capital and revenue; sound methodologies for assessing the financial impact of proposed expenditure; compatibility with other management and performance data, and a control system that sets clear responsibilities and produces prompt and accurate monitoring information on performance against budgets. This two-day course introduces the subject in sufficient detail to equip new officers with the required knowledge.

Course Objectives

At the end of the course each delegate will be able to

  • Have a good understanding of the basics of budgeting

  • Appreciate the need for developing accurate budgets

  • Understand how budgets, strategic objectives and strategic plans are related.

Who Should Attend

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This course is crucial for new Budgeting officers and Cost controllers that have had no formal training.

Course Outline

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Introduction:

  • Definition of Budgets

  • Benefits of Budgeting

  • Budgeting Process

Types of Budgets

  • Master Budget

  • Operating

  • Capital Budgets

  • Financial Budgets

Approaches to Budgeting

  • Incremental Budgeting

  • Zero-Based Budgeting

  • Fixed Budgeting and Flexible Budgeting

  • Kaizen Budgeting

Linking the Tactical Budget to Strategic Objectives

  • The Strategic Planning Process and the Budget as a Plan

  • Aligning the Budget with the Organization’s Strategy

  • Characteristics of an Effective Budget

Location, Pricing & Dates

All courses are available in-house (your preferred location) but throughout the year, we run selected courses as scheduled programmes. To view scheduled courses, please hover over dates on the calendar below.