Budgeting For Managers

Budgeting For Managers

Sunday 07 June 2020

  • Duration: One Week
  • City: Dubai 
  • Fees: Classroom: 4250 GBP / Online: 1925 GBP

Introduction

Budget is the best tool to see how your department is doing financially.  As someone once said “If you fail to plan, you plan to fail.” Budget is often seen as burdensome and time consuming exercise but it is a crucial element of financial management and is a huge contributor to your Firm’s overall success.  The time spent on the planning and budgeting is a time well spent!

This program teaches the participant how making budgeting a compelling, interesting tool. Useful techniques for evaluating the present costs and budget, identifying organizational inputs & outputs, preparing for problems, and attaining monetary objectives will be learned by participants.

Course Objectives:

  • Recognize the concepts, strategies and practices applied to each business
  • Identify just how budgeting techniques, principles, practices and techniques apply

• Assess the use of the budget forms

Course Outlines:

Day 1

  • Introduction
  • Assess organization existing spending budget, manager ‘s funds, spending budget forms, and pre-budgeting activity
  • Recognize natural issues in the process of budgeting

Day2

  • Evaluate just how budget plans enable the presence of inherent issues
  • Recognize the “must” components of preparing a budget
  • Evaluate your finances plans

Day3

  • Identify as well as determine an organization ‘s outputs
  • Determine what settings those outputs
  • Verify t​kinds of the organizational inputs
  • Integrate the inputs especially to the organization of yours

Day 4

  • Identification of costs & cost drivers
  • Preparation for uncertainty
  • Realizing assumptions as vital tools to overcome uncertainty
  • Determine uncontrollable internal factors and outside environmental factors
  • Provide individuals with resources to properly communicate problems and opportunities in meaningful terms to employers, subordinates, and peers

Day 5

  • Recognize the​ sources of budget numbers
  • Specify the crucial questions that should be answered prior to revenue forecasting
  • Recall the concepts of proper cost budgeting
  • Verify the various kinds of capital expenditures
  • Formulate procedure for getting budget approval
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