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- Payment Terms: Enquire
- Duration / Course length: 5 Days
- Starting Date: Enquire About It
- Timings: Enquire
Course details
OverviewThis course provides a comprehensive overview of the fundamental budgeting principles a critical aspect of personal and professional financial management. Designed to help individuals and organisations effectively plan and control their finances The Essentials of Budgeting covers various topics including budget preparation cash flow forecasting budget monitoring and control and performance analysis.
Participants will learn the step-by-step process of creating a realistic budget understanding how to adjust it according to changing circumstances and using it as a tool for decision-making. They will also gain insights into various budgeting techniques and approaches in different scenarios. Through a combination of theory practical exercises and case studies participants will leave the course with a strong understanding of budgeting essentials and the confidence to apply this knowledge in their personal lives or within their organisations.
Objective
By the end of the programparticipants will be able to:
- Define Planning and Its Purpose within Your Organisation
- Describe the Planning and Budgeting Cycle
- Explain the Strategic Planning Process
- Perform a Strategic Analysis of Your External and Internal Environment
- Explain the Different Types of Budget Preparation Methods and Identify the Most Appropriate One for Your Organisation
- Describe and Perform the Basic Steps in Preparing an Operating Budget
- Prepare a Departmental Spending Budget
- Identify Opportunities for Cost Reduction
- Manage Departmental Performance against Your Budget
Who Should Attend
Every manager with budget responsibilities who is interested in developing or improving their budgetplanning skills.
Course Outlines
Day 1- Understanding the Planning and Budgeting Cycle
- Define Planning and Its Relationship to the Budgeting Process
- Explain Why Companies Budget
- Describe the Planning Cycle in a Typical Organisation
Day 2 - Tying Strategic Planning to the Budgeting Process
- Explain the Strategic Planning Process
- Explain How Strategic Analysis Is Related to the Planning and Budgeting Process
- Perform a Strategic Analysis of the Internal and External Environment
Day 3 - Understanding the Budget Preparation Process
- Describe the Typical Flow of the Budgeting Cycle in an organisation
- Identify the Major Contents of the Annual Business Plan
- Explain the Different Types of Budgets their Purpose and limitations
- Explain the Relationship between Budgets and Forecasts
- Identify Ways to Improve the Budgeting Process in your organisation
Day 4 - How to Prepare an Operating Budget
- Explain the Sequence of Steps in Preparing an Operating Budget
- Prepare a Sales and Cost-of-Sales Budget
- Calculate Labor Hours Available and Use This Figure to Plan Headcount
- Calculate Budgeted Overhead Rates
- Budget Labor Materials and Overhead Costs in Total and Per Unit
Day 5 - Measuring Performance against the Budget
- Identify Significant Variances
- Analyse Budget Variances
- Describe the Characteristics of a Good Budget Reporting System
- Determine When a Budget Should Be Revised during the Year
About London Training For Excellence
Empowering Professionals for Over a Decade
London Training for Excellence is a leading provider of professional development programmes, established in 2013. For over eleven years, we have been committed to equipping individuals and organisations with the skills and knowledge they need to excel in today's ever-evolving business landscape.
A Breadth of Expertise
We offer a comprehensive range of training solutions across a diverse set of industries, including:
- Artificial Intelligence (AI): Stay ahead of the curve with cutting-edge training on AI applications, machine learning and data analysis.
- Contact Management: Learn best practices for building and nurturing relationships, managing communication workflows and leveraging technology to optimise your outreach efforts.
- Engineering: Enhance your technical expertise and stay current with the latest advancements in various engineering fields.
- Finance and Legal: Gain a deep understanding of financial concepts, legal frameworks and compliance requirements.
- Human Resources: Navigate the complexities of HR practices, from recruitment and onboarding to employee relations and performance management.
- Leadership and Management: Develop your leadership skills, communication techniques and team-building strategies.
- Logistics: Optimise your supply chain operations and ensure efficient delivery of goods and services.
- Marketing and Sales: Develop effective marketing strategies, hone your sales skills and drive business growth.
- Oil and Gas: Gain specialised knowledge and skills relevant to the oil and gas industry.
- Project Management: Master the art of project planning, execution and delivery to ensure successful project outcomes.
Our Approach
At London Training for Excellence, we believe in delivering high-quality, interactive training programmes that cater to diverse learning styles. Our experienced instructors are industry experts who combine theoretical knowledge with practical application.
Flexible Learning Solutions
We understand that busy professionals require flexible learning options. We offer a variety of delivery methods to suit your needs, including:
- In-person training: provides more significant face-to-face interaction. In a classroom setting, attendees can connect in real-time. In-person training also offers more opportunities for group activities and interactive projects.
- Online Courses: Our comprehensive online courses allow you to learn comfortably in your working environment.
- In-Company Training: Tailor training programmes specifically for your organisation's needs and deliver them on-site for maximum impact and employee convenience.
Investing in Your Success
By investing in training and development with London Training for Excellence, you will gain the knowledge and skills necessary to achieve your professional goals and contribute to the success of your organisation.
Contact Us Today
Let London Training for Excellence help you unlock your full potential and drive positive organisational change. Contact us today to discuss your training needs and explore how we can empower your workforce for the future.
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