Budgeting Workshop October 18, 2009

Learn budget planning skills and see how your managerial decisions translate into dollars and cents!

Like it or not, the budget is the yardstick that top management uses to measure your actual performance. And in today’s tough and highly unpredictable economy, the manager who knows budget planning and how to apply it effectively wins hands down over the one who doesn’t.

So, if you’re a new manager who’s “just a little nervous” about budget planning…or an experienced one who wants to get a lot more out of the yearly chore…or if you just want to “hold your own” with financial managers, this seminar is for you!
How You Will Benefit

* Examine the purpose and use of a budget
* Learn how to develop a revenue budget
* Use budget planning to translate managerial decisions into dollars
* Set monthly targets and prepare for contingencies
* Get successful reviews and approvals

What You Will Cover

* Keys to the budgeting process: integrating management’s goals, working with operating budgets, costs and expenses, controlling cash and structuring a capital budget
* Measuring performance: analyzing budget variances… actions to take after analysis
* Case study: calculating sales, material costs, direct labor, overhead costs, cost of sales

Who Should Attend

Every manager with budget responsibilities who is interested in developing or improving their budget planning skills.

Note: You'll need a calculator for this seminar.
Extended Training Description

Learning Objectives

* Define a Budget
* Distinguish Among the Different Types of Budgets
* Discuss and Evaluate Budget Variances
* Explain the Impact of External Factors to Budgeting, Forecasting, and Strategy
* Use Tools to Prepare and Justify Your Budget

Budget Fundamentals

* Explain What a Budget Is and Why Organizations Create Them
* Identify the Components of a Budget
* Identify Who within an Organization Should Be Involved in the Development of a Budget
* Explain Where Creating a Budget Fits into the Corporate Planning/Budgeting Cycle
* Discuss How a Company’s Budget Influences Its Financial Statements

Develop a Budget

* Define Various Types of Budgets
* Explain the Advantages/Disadvantages of Each Type of Budget
* Develop a Budget

Measuring Performance Against the Plan

* Discuss Why Variance Analysis Is Important
* Compare and Contrast Recent Past Performance Versus Budgeted
* Determine How to Address and Control Variances

Capital Budgets

* Define a Capital Budget and Its Components
* Define Why Capital Budgets are Vital to an Organization
* Calculate Capital Budgeting Ratios
* Define Factors for Capital Budget Approvals
* Explain How Capital Budgets Affect the P&L and Balance Sheets

The Impact of External Factors

* Identify External Factors
* Define Forecasting
* Define Strategy
* Recognize the Relationship of External Factors to Budgeting, Forecasting, and Strategy
* Recommend Ways to Minimize the Impact of External Factors

Prepare and Justify Your Budget

* List Dos and Don’ts of Preparing Your Budget
* List Dos and Don’ts of Justifying Your Budget
* Demonstrate Justifying Your Budget

Official Website: http://www.focustraco.com/index.php/tm-training-schedule/details/260-104301