At Program completion, participants will able to:

  • Perform the basic steps in preparing an operating budget
  • Prepare a departmental spending budget
  • Prepare a capital budget and justify capital expenditures
  • Identify opportunities for cost reduction
  • Review and approve budget more effectively
  • Evaluate departmental performance against budget

Overview

A budget is a plan that outlines an organization’s financial or operational goals. It is an action plan; it helps a business allocate resources, evaluate performance, and formulate plans. Understanding the importance of budgeting is the first step in successful financial planning.

This budgeting and forecasting program will help demystify the world of budgeting and provide participants with the techniques and confidence to manage and control their budget effectively. Financial terms and budgeting tools will be explained in a way that a manager will understand and relate to in his own line of work.

Program Contents

The Planning and Budgeting Cycle
  • Define planning and its relationship to the budgeting process
  • Explain why companies prepare budgets.
  • Describe the planning cycle inside the organization
Budget Preparation Process
  • Budgeting cycle in an organization
  • The major contents of the annual business plan
  • The different types of budgets, their purposes, and limitations
  • The relationship between budgets and forecasts
Operating Budget Preparation
  • The sequence of steps in preparing an operating budget
  • Prepare a sales and cost of sales budget
  • Calculate available labor hours and use this figure to plan headcount
  • Calculate budgeted overhead rates
  • Labor, materials, and overhead costs in total and per unit
  • How to budget operating expenses
Departmental Budget Preparation
  • Prepare a departmental spending budget
  • Prepare expenses budget
  • Prepare a capital budget
  • Justify capital expenditures
Measuring Performance Vs. the Budget
  • Identify significant variances
  • Analyze budget variances
  • Describe the characteristics of a good budget reporting system
  • Determine when a budget should be revised during the year

hpa was founded in 2004 as a joint stock company and is one of the leading companies specialized in the fields of training, consultancy, and recruitment 

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