Corporate Training
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The Fundamentals Of Budgeting
Course Objectives
- To learn the difference between a budget and a forecast
- To learn the steps to creating a budget
- To understand the different approaches to budgeting
- To learn how to project current year sales
- To understand the basics of production and raw material budgeting
- To learn how to create sales budgets
- To learn how to budget for new businesses
- To learn the difference between budgeting for fixed expenses, and budgeting for variable expenses
- To learn how to budget for payroll
- To understand how capital budgeting is different to other budgeting
- To learn about Return On Investment (ROI) in order to make good decisions about capital budgets
- To understand how to allocate budgets properly by month
- To understand how to set up a cash budget
- To use variance analysis to assess performance against budget
- To learn about budgeting for projects
Course Outline
DAY ONE
- The Benefits Of Budgeting
- The Difference Between A Budget And A Forecast
- Strategic Plans
- Different Budget Approaches:
- Zero-Based Budgeting
- Top-Down
- Bottom-Up
- Rolling / Continuous
- Flexible Budgets
- Components Of The Master Budget
- Sales Budget
- Current Year Projections
- How To Create A Sales Plan
- Product Life Cycle
- Sales By Month
- Budgeting For A New Business
- Budget Templates For Unit Managers
- Budgeting For Fixed And Variable Expenses
- Production And Raw Materials Budget
- Payroll And Headcount Budget
- Budgeting For Contingencies
- How To Choose A Fiscal Year
DAY TWO
- Pro Forma Income Statements
- Steps To Creating A Budget
- Budget Review And Variance Analysis
- Price / Volume Variance
- Labour Variances
- Cash Budgets
- Capital Budgeting
- Investment Appraisal Techniques
- Payback Period
- Average Rate Of Return (ARR)
- Net Present Value (Present Value And Discounted Cash Flow)
- Internal Rate Of Return (IRR)
- Budgeting For Projects
- Estimation Techniques
- Project Reserves
- Earned Value Management
Course Objectives
- To learn the difference between a budget and a forecast
- To learn the steps to creating a budget
- To understand the different approaches to budgeting
- To learn how to project current year sales
- To understand the basics of production and raw material budgeting
- To learn how to create sales budgets
- To learn how to budget for new businesses
- To learn the difference between budgeting for fixed expenses, and budgeting for variable expenses
- To learn how to budget for payroll
- To understand how capital budgeting is different to other budgeting
- To learn about Return On Investment (ROI) in order to make good decisions about capital budgets
- To understand how to allocate budgets properly by month
- To understand how to set up a cash budget
- To use variance analysis to assess performance against budget
- To learn about budgeting for projects
Course Outline
DAY ONE
- The Benefits Of Budgeting
- The Difference Between A Budget And A Forecast
- Strategic Plans
- Different Budget Approaches:
- Zero-Based Budgeting
- Top-Down
- Bottom-Up
- Rolling / Continuous
- Flexible Budgets
- Components Of The Master Budget
- Sales Budget
- Current Year Projections
- How To Create A Sales Plan
- Product Life Cycle
- Sales By Month
- Budgeting For A New Business
- Budget Templates For Unit Managers
- Budgeting For Fixed And Variable Expenses
- Production And Raw Materials Budget
- Payroll And Headcount Budget
- Budgeting For Contingencies
- How To Choose A Fiscal Year
DAY TWO
- Pro Forma Income Statements
- Steps To Creating A Budget
- Budget Review And Variance Analysis
- Price / Volume Variance
- Labour Variances
- Cash Budgets
- Capital Budgeting
- Investment Appraisal Techniques
- Payback Period
- Average Rate Of Return (ARR)
- Net Present Value (Present Value And Discounted Cash Flow)
- Internal Rate Of Return (IRR)
- Budgeting For Projects
- Estimation Techniques
- Project Reserves
- Earned Value Management