A one- or two-day workshop
Budgeting is more than mere vague oversight. Budgeting should deliver the corporate strategy, add shareholder value and lead to a well-run business – for the benefit of all involved in it. Effective budgeting leads to real control – effective day-to-day operational control and more. This course demonstrates what proper budgeting and operational control can do. It shows that:
Budgets can deliver
Budgets must deliver
Budgets should be tied to corporate strategy
Cultural harmony – method / reports / people – is vital
Having clear objectives and deliverables is a must
Report and feedback leading to action will deliver
- Appreciate the importance of the budgeting process
- Take ownership of it
- Use it as a daily working tool – not an annual exercise – to help run their part of the operation
- Improve their reporting against budget
- Ensure their delivery against budget
Expert trainer
Ralph is, unusually, dual-qualified as both an engineer and a chartered accountant. Having worked initially as an engineer, he qualified as an accountant and was a manager in one of the big international accountancy firms before setting up his own accountancy and consultancy practice. His clients include many international businesses from the banking, power, telecom, oil, manufacturing, engineering, construction and retail sectors.
Session outline
1. Objectives of budgets
- The budget process
- Stages – what is the prime aim of a budget?
- What is forecasting?
- Objectives:
- Planning
- Implementation
2. Budget and cost control focus
- Choosing objectives
- Links with corporate strategy
- Links with resource management
- Can the accounting systems cope?
3. Traditional budgeting and control
- Benefits and drawbacks
- The process
- Control and feedback
- Reporting – what can be expected?
4. Advanced budgeting and control
- Understanding the business process
- Taking out costs
- Cost awareness
- ZBB – as valid as ever
5. Reports
- Reports for action
- The purpose of a report
- Content – deliverables and feedback
- Culture is so important
