Budgeting for Managers
Learn budgeting principles applicable to every business and how to apply them specifically to your business.
Onsite budgeting course for non-financial managers.
Discover how to make budgets a powerful management tool.
Learn budgeting skills and techniques to monitors costs & manage resources.
This onsite Budgeting for Managers seminar will teach the non-financial managers how to make budgeting a powerful, interesting tool rather than just numbers thrown on a page. Participants learn practical skills for assessing the current budget and costs, identifying organizational inputs and outputs, preparing for problems, and achieving financial objectives.
After this training managers will know how to develop and oversee a budget. They come away with an understanding of how a budget planning tool will help them to consistently meet and exceed their and the organization’s financial goals and expectations.
Interactive discussion, case studies and practical exercises to help participants to learn to determine the sources of budget numbers, as well as how to verify different types of capital expenditures. They will develop the necessary skills to deal to deal with uncertainty as well as those necessary to forecast and plan.
We recommend this training be in a two-day format but we can be customized for a one-day training course.
A well-managed budget allows businesses to achieve financial goals.
One reason budgeting is difficult for managers is that they share some misconceptions about budgets and budgeting.
Do any of these sound familiar?
- Managers see budgeting as a chore that ends up being a guess (at best) and something they must endure to keep their boss and the controller off their back.
- Managers see budgeting as a numbers game where you: Make the revenue match the expenses. Show lots of complicated financial information.
- Managers think the best way to get the budget approved is to use the phrase: “Trust me; it all adds up.”
- Managers take the approach of: “Just tell me what you want, and I’ll make the numbers work.”
- Managers understand the “Do more with less” motto, but don’t have a clue as to how to do it.
- Managers think making “across-the-board cuts” means to simply dilute all projects, services and resources by a certain percentage.
If any of these budgeting myths sound familiar, your managers need this training.
When managers do not understand the budgeting process they are unable to effectively participate in a decision-making process that can make, or break, your organization.
Tough economic times challenge managers to be good leaders. This is especially true when it comes to dealing with financial issues. Economic pressures can cause indecision and poor decisions when it comes to budgeting. Unfortunately many managers have not had sufficient training to meet the challenge of developing effective budgets – even in good times.
This seminar trains managers how to build valid assumptions to make good financial decisions and build flexibility into their budgets for a rapidly changing business environment.
Who Should Attend
All management employees and their assistants who are involved in the budgeting process. (Recommended for two-day training, can be customized for one-day training)
- Recognize the principles, techniques and practices applicable to every business
- Identify how budgeting principles, techniques and practices apply specifically to your business
- Evaluate the use of your budget forms
Overview of Topics and Learning Points Developed Provided
- Assess your company’s present budget, manager's budget, budget forms, pre-budgeting activity and budgeting process
- Recognize inherent problems in the budgeting process
- Evaluate how your budget plans allow for the occurrence of inherent problems
- Distinguish the “must” elements of planning a budget
- Evaluate your budget plans to determine if these elements have been addressed
- Identify and define an organization's outputs
- Determine what controls those outputs
- Verify the three kinds of organizational inputs
- Integrate these inputs specifically to your organization
- Identify costs and cost drivers
- Prepare for uncertainty
- Recognize assumptions as powerful tools in overcoming uncertainty
- Determine outside environmental factors and internal uncontrollable factors
- Provide participants with tools to effectively communicate opportunities and problems in meaningful terms to bosses, peers and subordinates
- Recognize the three sources of budget numbers
- Specify the key questions that must be answered before revenue forecasting
- Recall the principles of effective cost budgeting
- Verify the different types of capital expenditures and how they should be justified
- Formulate process for obtaining budget approval
To receive more information about this training call toll free at 877-385-5515.