Delegates will understand the “big picture” of the budgeting process; the benefits of budgeting; the pitfalls of budgeting; the techniques of budgeting; how budgeting contributes to return on assets – the ultimate measure of financial performance. This understanding should contribute to improved motivation and skill in constructing and controlling the budget.
Module A: Return on Assets – The Context of Budgeting
Revision of the ROA Model
Introduction to the relevant financial statements
Budgeting for Cost Control
Budgeting for Asset Management
Module B: The Budgeting Process
Understanding a Budget
Constructing and Coordinating the Budget
Controlling the Budget
Module C: Fixed and Variable Costs
Understanding Fixed and Variable Costs
Budgeting for Fixed and Variable Costs
Contribution Margins and Break-Even
Module D: Capital Budgeting
Reasons for Capital Budgeting
Methods of Capital Budgeting
Understanding the “Time Value of Money”
Facilitator led discussion; relevant case studies using company specific documents; discussion question exercises.
Course duration is one day. Presented in-company
FOR WHOM INTENDED
All managers playing any role in the budgeting process. This workshop is designed as a one day “stand alone” but is most effective when used as a follow-on for delegates who have attended Stratagem’s “Operational Finance” programme.