Budgeting is an important component of financial success. It’s not difficult to implement, and it’s not just for people with limited funds. Budgeting makes it easier for people with incomes and expenses of all sizes to make conscious decisions about how they’d prefer to allocate their money. For many people, having a solid budgeting in place, knowing how much money have and knowing exactly where that money is going makes it easier for them to sleep at night.
Since budgeting allows you to create a spending plan for your money, it ensures that you will always have enough money for the things you need and the things that are important to you. Following a budget or spending plan will also keep you out of debt or help your way of debt if you are currently in debt.
Managers in all types of organizations and environments must be able to prepare, or at least understand, a realistic and results-oriented budget. When managers do not understand the budgeting process they are unable to effectively participate in a decision-making process that can make, or break, your organization.
Tough economic times challenge managers to be good leaders. This is especially true when it comes to dealing with financial issues. Economic pressures can cause indecision and poor decisions when it comes to budgeting. Unfortunately many managers have not had sufficient training to meet the challenge of developing effective budgets – even in good times.
MAJOR BENEFITS OF ATTENDING
By end of this course, delegates will be able to:
- CREATE a budget in few easy steps
- EMPOWER your team with money management
- PRESENT a professional budget
- DISCOVER how to make budgets, a powerful management tool
- LEARN budgeting skills and techniques to monitor costs and manage resources
- DESCRIBE how budgeting relates to the planning and controlling functions of management
- UNDERSTAND the relationship between budgeting and strategic planning
- LIST and DESCRIBE the Phase of Budgeting
WHO SHOULD ATTEND?
This course has been specifically designed for:
- All management employees and their assistants who are involved in the budgeting process
- Budgeting managers and anyone who contributes to budgets and forecasts
WHY YOU SHOULD ATTEND?
This 2-day course on Budgeting for Managers will teach the non-financial managers how to make budgeting a powerful, interesting tool rather than just numbers thrown on a page. Participants learn practical skills for assessing the current budget and costs, identifying organizational inputs and outputs, preparing for problems, and achieving financial objectives.
After this training, managers will know how to develop and oversee a budget. They come away with an understanding of how a budget planning toll will help them to consistently meet and exceed their and the organization’s financial goals and expectations.
Interactive discussions, case studies and practical exercises will be covered to help participants to learn to determine the sourced of budget numbers, as well as how to verify different types of capital expenditures. They will develop the necessary skills to deal with uncertainty as well as those necessary to forecast and plan.