Successful Budgeting BLI Consulting & Training

Course details

Organizations frequently delegate responsibility for budget preparation and control to line managers who have had no or essential training to prepare them for this responsibility to effectively manage a key resource. Budgeting is an essential part of managing your business and this workshop explains why. It will enable you to eradicate errors when compiling budgets and thereby avoid financial difficulties, present budgets with confidence and accuracy and analyze variances so that corrective action can be taken.

Course Objective:

  • Understand the basic principles of budget preparation and control
  • Be more confident in making informed financial decisions
  • Be able to communicate budgetary information more effectively
  • Recognize importance of effective preparation in establishing realistic budgets
  • Improve ability and confidence in preparing and controlling budgets.

Course Outline:

  • What are the barriers to successful budgeting? - considering what stops us from being effective at budgeting
  • What is a budget? Where does it come from? Why do we do it?
  • Good reasons for budgeting - benefits to the organization of the delegated budget
  • The basic principles of budgeting: income and expenditure, capital and cash, approaches to budgeting and different types of budgets
  • Preparing forecast profit and loss, balance sheet and cash flow to understand where we want to be
  • Focus on budgeting as part of the business plan - where does it fit?
  • Budgeting for profit
  • Cost behavior and its relevance to budget setting and control - knowing the sensitivity of your costs to ariations in output will help you understand what is happening to your figures
  • The budget cycle - how it all comes together
  • Planning and preparation for budgeting - what it takes to be effective in your preparation
  • The 7 steps to successful budgeting - a guide to the key areas to master to help your success
  • Budget setting exercise - a practical exercise in setting a departmental budget with realistic constraints
  • Tracking expenditure and variances - the need to monitor and take effective control action and learning for next time.

About BLI Consulting & Training

We_They was founded in 1988 with the aim of providing first class training and consulting services, enabling our clients to improve and sustain a valuable competitive advantage, hence, making a positive contribution towards their success. Working closely with national and multi-national companies, we offer global experience coupled with practical, local expertise.  

We aim to deliver innovative yet practical business solutions, from concept formation to implementation and evaluation. BLI’s depth of service and global reach translates into seasoned knowledge for tailoring our services to our clients’ specific needs. 

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