The Budgeting Techniques course focus on an integrative and practical view of concepts, methods, and techniques to develop a budget. In this course, the participants will have a deeper understanding of the budgeting process, its challenges, common issues, and approaches to mitigate the problems and improve the learning curve of budget planning. It is integrative by emphasizing the transition between the corporate strategy and the budget. It is practical by following a structured process of going through a framework that illustrates and demonstrates how to analyze, develop and control the budget.
After successful completion of this course, candidates should be able to:
Understand what budgets are and how to create and develop them and be able to present them to funders;
Apply budgeting tools and techniques;
Improve forecasting techniques;
Be able to create and develop a master budgets and understand how it relates to among others;
Budgeting within a strategic framework.
Who should attend?
Those who have the responsibility for managing, organizing and governing the financial resources of any small and medium sized business, Start-ups and charity organizations;
Anyone who wants to learn and understand forecasting and budgeting.
Topics we will cover:
Introduction to Budgeting: Cost-Volume-Profit Analysis;
Cost Variables: Activity based Costing System;
Master Budget: Direct Material and Direct Labour Budget; COGS Budget; Manufacturing Overhead Budget; Production Budget; Revenue Budget; Selling and Administrative expenses budget;
Strategy: Pricing Decision and Cost Management; Profitability Analysis; Quality, Time and Theory of Constraints;
Technical Implementation: Interactive Class; Building Master budget.
Upon completion of the training, the participants will be awarded with a certificate by Baker Tilly Academy.