Effective budget forecasting and management is an essential part of the job for the modern-day manager, yet the techniques and methods necessary for success are often left for people to work out for themselves. As the physicist Neils Bohr said: 'Forecasting is difficult, particularly when it's about the future!'
It is very important that budget holders appreciate the function of the budget and understand how it affects the rest of the business operation and strategy. There are many established practices, processes, techniques and nuances that can only be truly understood through effective training.
This highly practical and interactive course will clearly explain the purpose of the budget in controlling costs and forecasting financial and operational performance and planning.
This course will help you to:
- Understand the purpose of budgets and their impact on the organisation
- Appreciate the place of the budget in strategic planning
- Understand the motivational effects of budgets and how you can apply them to your business
- Understand how to use budgets for planning and for control
- Develop an awareness ot the ‘true cost’
- Use different methodologies for budgeting and costing
- Think beyond the budget and adapt as financial decisions become operationalised
The course is ideal for anyone with a responsibility for managing or preparing a budget, seeking a solid understanding of the key concepts of financial planning, cost-control and forecasting.
