Budgeting Issues

Learning Outcomes:

• Using information provided in class, successfully define the budgeting process as it applies to your current business situation.

• Taking information about your own budgetary needs, effectively participate in a review of the strategic planning must perform in order to provide a more accurate budget.

• Given the various types of budgets discussed in class, select the type of budget structure which would best suit your work environment.

This one day class will help with understanding the business reasons for the budgeting process and elements of a successful budget.

• The Planning Cycle
• Fundamentals of Budgeting
• Budgeting and Strategic Planning
• Budget and forecasting
• Types of Budgets
• Preparing the Department Budget
• Elements of the Budget
• Getting the Approval
• The Review Process

Budgeting Issues

Learning outcomes: After this session, you should be able to construct a budget for your team, department or group. You will learn the different types of budgets, their purposes and limitations. You will discuss how strategic planning and budgeting are linked, understand the planning cycle and why you need to develop a budget plan. Learn the budget preparation process and how to budget expenses more accurately. Discuss steps to gain approval, the review process and pitfalls to avoid during the budgeting process. Learn to analyze variances and adopt budget revisions.

Class targeted to: Managers, Supervisors, Team leaders or anyone responsible for preparing a budget.

Prerequisites: Some Accounting experience helpful.