Course Objectives 

By the end of the course, delegates will have:

• Understood the reasons for budgets and the importance of budgeting
• Understood management accounting concepts, tools and language
• Reviewed how to set, manage and monitor budgets
• Explored techniques and methods for cost control and reduction
• Reviewed the manager’s need to consider the costs and budgetary implications of capital expenditure
• Established each managers key financial/budget ratios for future monitoring
• Reviewed ways of applying all of the above to your Organisation

Course Content

Introductions and establishing participants’ requirements
Budgets – what they are and the need to integrate them
The budget setting process and the manager’s role in this
Looking at the budget setting process

Cost Centres and the Role of the Manager
Talk and discussion of implications for participants
Understanding costing methods, techniques and terminology

Exercise in costing

Using costing tools for cost control and cost reduction
Tools for monitoring budgets
(Actual v budget, forecasting, profiling, variance analysis)
Other budgeting concepts such as Zero Based Budgets, exception reporting and their use

Exercises in budget management

 Depreciation
The manager’s need to consider the costs and budgetary implications of capital expenditure
Establishing each managers key financial/budget ratios for future monitoring

Personal Development Action Plans

Course Duration: One Day