Are you consistently on top of your budget, or do you feel like you're drowning in numbers? Understanding the logic and strategy behind making a budget can be daunting enough — not to mention administering and overseeing the budget year-round! How would you and your organization benefit from the ability to create, implement, adjust, and adhere to a budget that keeps you on track and in control of your finances?
You're probably familiar with the concept of budgeting, and possibly even the practice of it. But are you confident that you really understand the driving forces behind the numbers, or that you can effectively use your budget to identify trends and uncover opportunities for your organization? In today's ever-changing business climate, having a handle on your finances is more important than ever. Learning how to develop a budget that is flexible, smart, and on target is the key to meeting your business goals and objectives, even in times when fiscal restraint must be used. This course can help!
What You'll Learn
- Establish the objective behind budgeting — why do it?
- Identify different approaches and philosophies of budgeting and the advantages of each
- Use the cyclical nature of the budgeting process to help predict future trends
- Recognize the benefits a well-crafted budget has for both an organization and its staff
- Understand why the sales/revenue budget should serve as a foundation for all other budgets
- Utilize the concept of forecasting and understand its crucial role in budget development
- Explore ways to improve expense forecasting accuracy by identifying and analyzing different types of expenses
- Determine how changes in an environment and underlying assumptions can affect budget outcomes
- Implement strategies that ensure your budget serves as a planning tool to improve performance
Who Will Benefit
This power-packed program is essential for business owners, managers and supervisors, department heads, accounting professionals, team leads and every member of your organization who takes part in your organization's budgeting process!