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In Budgeting Skills for Professionals, participants will learn...

  • Financial terms, phrases and budgeting concepts
  • How to turn a budget into a forecasting tool
  • Proven ways to create “lean and mean” budgets … without limiting financial resources
  • The keys to absorbing those “surprise” expenses
  • How to build a budget

Today, more than ever before, the ability to handle “the numbers” is one of the most important business skills employees can possess. Crunching numbers and coming up with a budget can be a challenge. They must understand how the strategic and planning advantages of a well-put-together budget can benefit your organization.

Our training course Budgeting Skills for Professionals was designed to do just that: Cut through layers of complex theory and confusing financial jargon and provide the nuts-and-bolts skills and techniques necessary to really understand the budgeting process.

We’ll turn budgeting into a dynamic goal-setting process rather than a dreaded chore! Contact us today!

Who will benefit from this training

New or non-financial managers who are overwhelmed with cumbersome terms and confusing theories
Experienced leaders ready to advance to a new budgeting level and discover the concepts and skills needed to get the most useful information




    SkillPath Training Information

    SkillPath Enterprise Solutions can bring the following topic to your company: Budgeting Skills for Professionals

    Click on the link below for more information. http://www.skillpath.com.au/index.cfm/on-site/training/topic/Budgeting-Skills-Professionals



    TRAINING AGENDA

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    Budgeting basics made easy

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    • The advantages to good budgeting
    • Why budget in the first place? What to expect without a budget in place
    • Understanding and following a company’s budgeting guidelines
    • How to use an organization’s budgeting strategy
    • When and why a budget might not be needed
    • 5 features found in every effective budget
    • Common budgeting mistakes … and how to avoid them from the start
    • Budgeting words, phrases and concepts

    Budget tools and how to use them

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    • How to base an operations budget on unit-cost measures
    • Tap one of the strongest budget tools: Fixed-cost budgeting
    • Start from scratch … how zero-based budgeting can help avoid past mistakes
    • Methods for conquering budgeting madness: Top-down, bottom-up and phased budgeting techniques
    • Match tasks with the best-available budgeting methods
    • The pros and cons of budgeting software
    • How to motivate a budget committee
    • The differences between needs and wants when it comes to budgeting

    Before a budget begins

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    • A look at costs: Fixed, variable and otherwise
    • Direct and indirect costs … and how to tell the difference
    • Find the best sources for gathering budgeting information
    • Key financial ratios for analyzing financial statements
    • Understand the 1-, 3- and 5-year budgets
    • Use “present-value analysis” to make the best decision
    • How to customize a standard budget
    • How to decide what a budget should achieve
    • 14 key considerations for all budgeters
    • 7 quick self-checks before a budget begins

    How to build a budget

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    • The “big-picture” view that can affect a budget
    • What it takes for capitalization
    • Ways to nail down revenues by kind, size and schedule
    • A closer look at capital expenditure requests
    • Understand output-input procedures
    • Best ways to budget for administrative expenses
    • How unit indicators can help control a budget
    • Cash flow and a cash budget
    • Put balance sheet and income statements to work—now!
    • How to find the vital numbers in any financial report
    • Ways to polish a rough-cut budget

    Budget administration

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    • Find strengths and weaknesses through an income statement
    • How to use a balance sheet budget to gauge department or company success
    • Ways to evaluate expansion plans and other growth using the capital expenditure budget
    • The cash-flow budget and what it means to operations
    • 3 reports for tracking budget progress
    • Using flexibility to strengthen a budget
    • Stress-free ways to roll out a budget
    • How to hold a department accountable for a budget

    Budget monitoring do’s and don’ts

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    • How to deal with the differences between budgeted and actual numbers
    • What to do when bad research and numbers finally come out
    • What to do when cost control is simply impossible
    • How to handle the often unavoidable “surprise variance”
    • Budget adjustments … and when to make them
    • Hunt down indirect costs and deal with them
    • How to manage the people side of budgeting
    • Regularly review a budgeting process to learn more
    • Use actual expenditures to track a budget
    • Make monthly goals to keep the annual budget accurate
    • 5 ways to respond to budget emergencies

    Analyzing variances, errors and other inconsistencies

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    • 10 benefits to checking those variances
    • How to explain budget variances
    • Common variances and how to control them
    • Shades of gray: The relationship between favorable and unfavorable variances
    • Outside interference: Alarms to be aware of
    • Degrees of variance … and how to handle each
    • Best ways to use variance reports
    • 7 ways to control the budget as it plays out
    • Uncover error sources to solve budget problems
    • Seeing through the haze and maze of creative accounting

    A look at specific budget types

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    • Every action, every department deserves a budget
    • Make a sales budget deliver all it can
    • Production budgets can really pay off
    • What to know about labor budgets
    • Research and development budgets cover new territory
    • How to tackle those complex marketing budgets
    • How the budget fits into a master budget plan