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 monitor 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 with uncertainty as well as those necessary to forecast and plan.
We recommend this training be in a two-day format, but it 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)
Training Benefits
- 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
Day One
- 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
Day Two
- 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
How to Develop and Administer a Budget: Budgeting for Managers
Onsite budgeting skills seminar improves financial performance and results.
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Understand the budget process
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Monitor costs and plan the use of resources through budgeting
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Learn fixed cost, zero based and other budgeting tools
This onsite How to Develop and Administer a Budget seminar is designed to make the budgeting process a most powerful and reliable management tool. For any successful business or business department it is essential to plan and tightly manage its financial performance. Creating a budgeting process is the most effective way to keep your business and its finances on target. This course is specifically designed to enable businesses to solve gaps and enable your business to function effectively and remain competitive.
Budget control is vital for business success. This workshop will teach how, by developing and administering a budget effectively, the performance and results in your department or organization can vastly improve, ensuring that financial expectations and goals are consistently met.
Managers learn how to create and monitor a budget that will improve performance in their department and the organization. They discover how to use the budget process as a planning tool to consistently meet and exceed financial goals and expectations.
Using interactive discussion, case studies and practical exercises, participants learn how to determine profit margin and break-even points. They will develop skills to accurately judge the impact of expenses on projects and make forecasts on performance. Participants practice applying up-to-date rules and techniques to truly understand the realities, opportunities, and limits of the short and long-term budget process.
Train managers to use budgeting to better manage projects and processes.
This seminar outlines the advantages of developing and administering an effective budget and the steps required to do this. It suggests action points to help you manage your business' financial position more effectively and ensure your plans are practical.
Who Should Attend
This course is designed for managers who do not work in the accounting department, but need to have a good understanding of the budgeting process.
Training Benefits
- Why it is important to budget
- Examine the key issues when developing a budget
- Understand the budgeting process
- Budgeting terms and concepts made easy
- Discuss the key monitoring tools used in the budget process
- Review a balance sheet and how to use it in the budgeting process
- Review performance against budget
Overview of Topics and Learning Points Developed
- Understand the role of budgets
- Describe the three stages of budgeting:
- Development
- Enactment
- Administration
- Understand the numbers and language used in budgeting
- Understand the differences between budgeting styles
- Unit cost measures
- Fixed cost budgeting
- Zero based budgeting
- Understand the provisions related to the budget process
- Track departmental budget preparation, its approval, and administration
- Turn a budget into a forecasting tool
- Using a balance sheet budget to measure department or organizational success
- Understanding the cash-flow budget and how it is used
- What to do when there is a difference between budgeted and actual numbers
Financial Analysis
Learn How to Use Financial Indicators and Benchmarks
Develop financial analysis skills and techniques to:
Allocate Resources Effectively
Evaluate Projects for Maximum Return-On-Investment
Assess Cash Flow
Analyze the Time Value of Money
and more…
(CPE credits available)
Who Should Attend
All management employees who do not possess extensive experience or education in accounting and financial topics. Executive secretaries and administrative assistants. (Recommended for three-day training, can be customized for one or two-day training.)
Training Benefits
- Recognize what financial analysis is all about
- Identify how financial analysis is used in every phase of business operation
Overview of Topics Covered and Learning Points Developed Provided
- Recognize the planning cycle
- Acquire shareholder value: gain understanding of the most frequently mentioned measures of corporate performance
- Recognize performance indicators: a selection of the most powerful measures of profitability, liquidity and solvency in use today
- Assess cash flow: several cash basis performance indicators will be introduced
- Analyze time value of money: learn how to calculate a variety of compound interest problems using the most popular financial calculators
- Investigate capital project analysis: review any investment - from the purchase of property, plant and equipment to the development of a new process or the acquisition of another company
- Explore the characteristics of capital leases and operating leases and the effect they have on the financial statements; participants will learn how to structure a lease to meet the financial objectives
- Explore mergers and acquisitions: understand why companies combine and the types of professional help required; review the required information you must present when approaching a merger or acquisition
- Identify risk: review the use of statistical techniques to help recognize the varying degrees of risk in making financial decisions
Finance and Accounting for Non-Financial Managers
Onsite seminar trains basic accounting principles and practices
Learn How to Read Financial Statements
Be able to evaluate balance sheets, income statements, cash flow & more
Make Better Finance and Management Decisions
This interactive, 2-day training workshop is designed to help you master the fundamentals of Finance and Accounting, crucial for effective management. You will learn how to read and evaluate key financial statements, including balance sheets, income statements, and cash flow statements, empowering you to make better financial and management decisions. Whether it's about budgeting, cost control, investments, or managing cash flow, this course will equip you with the financial knowledge essential for success in any business environment. (Can be customized for 1-day training) (CPE credits available)
This Finance and Accounting for Non-Financial Managers course enables managers to make better budget related decisions.
Who Should Attend
All management employees who do not possess extensive experience or education in accounting and financial topics, and executive secretaries or administrative assistants.
Finance and Accounting for Non-Financial Managers Training Objectives
- Recognize the general body of accounting and financial knowledge
- Understand the major accounting and financial topics that business managers use most often
- Be able to read and evaluate financial statements
- Make better budgeting and management decisions
Overview of topics and Learning Points developed
- Recognize accounting processes
- How financial transactions are recorded in the accounting system of a company
- How these entries eventually lead to the generation of financial statements
- Identify accounting principles that every manager should know
- Distinguish financial statements: balance sheet, income statement and statement of cash flow
- Analyze financial statements
- How to read,
- Analyze and
- Evaluate the financial performance and health of a company
- Assess the content and format of an annual report
- Explore budgeting concepts
- Prepare a sample comprehensive budget
- Recognize profit planning and cost-volume-profit analysis
- Techniques which emphasize the behavior of costs and cost controls
- Prepare for future operations and funds flow
- Cash budgeting or cash flow analysis for short-term projections
- Projected financial statements for longer-term analysis
- Recognize how a business is financed
- Review of different types of debt and equity financing
- Recognize the advantages and disadvantages of each
- Measure return on investment (ROI)
- Assess capital budgeting concepts
- Recognize cost of capital concepts
- How to compute the time value of money
- Distinguish the different types of capital expenditures and how they should be justified
- How to carry out recommended process for obtaining budget approval
Finance and Accounting for Non-Financial Managers Overview
Build Financial Confidence and Make Smarter Business Decisions 
Successful managers know how their decisions effect company profitability. The finance and accounting courses for the non-financial provide managers with essential financial knowledge for effective decision-making. Our courses equip managers with a strong foundation of financial principles and practical tools for budgeting and fiscal management. Participants learn to interpret financial information in ways that enable them to improve their management effectiveness and make a more productive corporate contribution.
Individuals participating in the finance and accounting workshops benefit from improved productivity gains through better financial analysis, elimination of guesswork, and improved accuracy of decisions, better interaction between finance and non-financial staff, and more informed decisions about strategy and budgets.
A basic understanding in finance and accounting is critical for any manager. The purpose of these courses is to create the framework for fiscally responsible decision-making.
Finance and Accounting for Non-Financial Manager Training Sample Programs
| Finance and Accounting for Non-Financial Managers |  |
| Financial Analysis | |
| How to Develop and Administer a Budget: Budgeting for Managers 1-day seminar | |
| Budgeting for Managers: 2-day seminar | |
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