Advanced Budgeting Workshop

Code Date City Fees Register
E025 March 31, 2024 - April 4, 2024 Istanbul $ 5000

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E025 July 28, 2024 - August 1, 2024 Dubai – UAE $ 5000

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E025 October 1, 2024 - October 3, 2024 Dubai – UAE $ 3000

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E025 January 12, 2025 - January 23, 2025 Online $ 3000

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  • By the end of this course, participants will be able to:
    • Improve your ability to accurately project expenses
    • Build a budget that glides through approval channels without a hitch
    • Discover steps for measuring actual progress against budget .
    • Justify expenditures using the right logic and language
    • Critical responses that address and arrest budget variances
    • A complete, easy-to-understand glossary of terms dealing with every aspect of your budgeting process
    • Checklists, worksheets and formulas that would take years to collect on your own
      The ability to forecast profits that will not go unnoticed
    • Reduce the time you spend gathering data for your budget – quickly identify what you need and where you can get it
    • Long run vs. short run: What you need to know about each before you budget
    • Learn which items must be figured into your budget whether you’re building one from scratch or working from a pre-approved format
    • Work with confidence when the expenses are greater than the revenues .

The Delegates

  • Whether you’re developing a budget or implementing one, learning the proven techniques in this workshop will make all the difference in the strength and success of your budget and your career. So, if you’re a:
    • Senior personnel
    • Supervisor
    • Administrator
    • Department head
    • Key player on any budgeted team
    • Purchasing decision-maker

The Contents

  • Introduction and course overview.
  • What and Why of budgeting :
    • Budgeting and Reporting Overview: So You Want Perfect Analytics
    • Getting started: Budgeting is a communication process
    • The key benefits of “good” budgeting and the pitfalls of “bad” budgeting
    • Essential elements in planning any viable budget
    • Know your organization’s budgeting “environment”
    • Putting the pieces together: The budget preparation phase – planning is most of the battle
    • Monitoring the approved budget: Do more than just “live with it” … succeed with it!
    • Administering a Budget
    • Budgets are financial statements: How do we use them effectively. What do they tell you about the past … the future?
    • Learn how to use them to pinpoint organizational strengths and weaknesses
    • The income statement: What does it measure? What is missing from it?
    • The balance sheet budget: a measure of health of your department or organization
  • Administering a budget :
    • The capital budget: The long-term commitment of viability. Just how practical are your plans for expansion, research and development, new personnel, etc.?
    • The cash budget: The first line of survival
    • Spot the key problems and opportunities every budgeting process uncovers
    • Essential Budgeting Tools
    • Methodology of effective budgeting
    • The budgeting checklist
    • Unit-cost budgeting: ideal for operations-oriented environments
    • Fixed-cost budgeting: the tool budget-builders reach for most often
    • Course Planning and Budgeting: A more strategic look at budgeting
    • Review the methods available to address your unique budgeting challenges
    • Zero-based budgeting: essential for justifying proposed expenditures from the ground up
    • Activity-Based Budgeting (ABB): Fad or Fact?
  • Analyzing budget ‘types’
    • The final plan: sales plan, production plan, purchases budget, Labor budget, Operating expenses, Capital budget
    • The sales plan begins with P X Q
    • How to prepare a production budget
    • Prepare a manufacturing budget including: budgeting for materials, direct labor and overhead
    • How to plan and prepare a research and development budget
    • Budgeting terms made simple; a glossary of words you’ll use again and again
  • Building the budget :
    • It all begins with sales or revenues
    • Where do revenues come from?
    • Where do the pieces fit? Capital expense or operating expense?
    • Examine capital expenditure requests
    • Methods of economically evaluating capital expenditures and projects
    • Controlling general and administrative expenses
    • Develop unit indicators for budget preparation and control
    • Identify overhead and determine proper allocation methods
    • Budget Development
    • “Cash” versus “accrual” accounting – why are they different?
    • What are the “rules” for budgeting and who makes them?
    • Use basic accounting technology to properly compare cash inflow to outflow
    • Post approval, what steps to undertake after the budget is approved
    • Top down or Bottom up? Which one works and why
    • Management by Objectives, results that matter
  • Budget variances :
    • Is the alleged variance within your control? What are some factors beyond your control? The right perspective will make the difference
    • Learn where to look first for variance factors hardest to find
    • How to know when and how your budget is warning you of outside interference
    • Tips on how to respond to requests for variance explanations
    • Monitoring the Budget
    • Monitoring methods such as Management by Exception
    • Understand the difference between fixed, variable and semi-variable costs using a simple but effective illustration
    • Expect the unexpected: some costs simply can’t be budgeted – recognize them and incorporate them
    • Learn and use the unit-cost concept immediately and effectively
    • Establish and track monthly targets within your annual budget
    • When to “break” the budget

The Discount

10% in case of Three P. (or more)