Introduction
All organisations apply some form of financial planning: the more volatile an industry, the greater the need to have clearly thought out budgetary controls in place. In the 21st century, the budgeting process needs to be a clear and precise process but with content flexibility to be able to adapt to changing market demands. Budgeting is a fundamental skill need throughout all levels of management and needs to be much more than a paper exercise. Teams need to be motivated to achieve, results measured and potential adjustments made. This programme introduces all key elements of budgeting to all managers who need to set and control budgets.

Learning Outcomes
On successful completion of this programme, participants will be able to:

• Describe different budget methodologies and their applicability
• Engage effectively with their organisation’s budgetary process
• Use the budget as an ongoing management tool throughout the year
• Participate in positive, constructive dialogue with colleagues in all functions of the business, including the financial function
• Identify variances to budget during the course of the year and establish appropriate action plans
• Communicate the importance and the content of the organisation’s budget to their teams and colleagues

Programme Content
The programme covers all the basics involved in effective budgetary control: the importance of financial planning and how they link to sales forecasting and budgeting; the difference between targets and budgets, fixed and variable costs; different budgeting methodologies including ABC, zero based, top down, bottom up, incremental, fixed and variable budgeting.

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