Effective Budgeting & Beyond Training Course

Success in any organisation depends on being able to develop and implement effective plans to achieve the organisation's objectives. Although some see budgeting as a burden, the most successful organisations use the budget process to produce powerful plans to keep them on track to deliver their goals and vision.

This course will provide you with an up to date guide to effective budgeting.

Who Is This Course For? 

Any manager responsible for delivering organisational objectives and targets; managers in charge of developing frameworks for improving public or private sector performance; all managers responsible for preparing and controlling departmental budgets.

Benefits:

• Learn how to tie strategy to effective annual budgets
• Get practical tips to improve budgeting in your organisation
• Identify critical success factors for your organisation
• Understand how winning organisations harness the power of Balanced Scorecard
• Develop Key Performance Indicators that will help you to deliver results.

Course Syllabus:

• Budgeting's place in the planning framework
• Creating and articulating the organisation’s vision and objectives
• Organisational stakeholders and balancing their objectives
• The planning horizon
• A framework for strategic planning
• Tools for strategic analysis
• Understanding and managing risk
• Budgeting essentials
• Linking budgets to strategic objectives
• Identifying tactical objectives
• Identifying constraints and the limiting budget factor
• Assigning responsibility for budget objectives
• Making sure objectives are integrated
• People and budgets; using budgets to motivate
• Practical budgeting
• The budget manual
• The sales budget
• Overhead budgets
• Capital expenditure budgeting
• Cash budgeting
• Preparing the master budget
• Business seasonality, trends and budget phasing
• Budget implementation
• Monitoring financial and other data
• Design of budget reports
• Four golden rules for good feedback reporting
• Alternatives to traditional budgeting
• Zero-based budgeting
• Activity based budgeting
• Criticisms of conventional budgeting
• Beyond budgeting
• Using rolling forecasts instead of static budgets
• Identifying key business drivers
• Business modelling with Excel
• Implementing rolling forecasts
• Balanced Scorecard and KPI's
• The four perspectives of the Balance Scorecard
• The 'three step' approach to developing Balanced Scorecard
• Identifying critical success factors
• Using Balanced Scorecard to develop Key Performance Indicators
• Aligning the KPI's with long term strategy
• Practical implementation of a Balanced Scorecard
• Real life examples of successful implementation