Finance and Accounting

Training Course: Budget Management & Control


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FI2040

31 Mar - 4 Apr 2025

London (UK)

Hotel : Landmark Office Space - Oxford Street

Cost : 5250 € Euro

Introduction

Budgets are an essential financial tool, which aid, planning, decision making, resource allocation, co-ordination, and control.

Without the necessary skills Budgets can be poorly managed and lack control or alternatively fail to provide the flexibility required to seize opportunities and respond to changing market and economic events.

This program provides participants with the skills necessary for the effective management and control of budgets including the:

  • Sales Budgets
  • Production Budgets
  • Cash Budgets
  • Capital Budgets and
  • Master Budget

Course Objective of Budget Management & Control

Participants attending will:

  • Develop the skills to effectively Use Budgets as a management tool:
    • Identifying key performance indicators for effective and focused decision making
    • Performing “What If” and Sensitivity Analysis to evaluate the implications of changes in major factors of production and consumption
    • Recommending various courses of action to manage the implications of “What If” and Sensitivity Analysis.
  • Develop the skills to effectively Manage & Control the budgeting process by:
  • Implementing advanced planning and control techniques such as
    • Variance Analysis into the budgeting process
    • Providing a decision support structure that provides timely and useful information to decision-makers

In particular the following will find it very helpful:

  • Financial managers, finance controllers treasurers and inventory managers
  • Senior managers with a direct responsibility for financial management and control
  • Accountants, sale and purchase managers and managers responsible for relationship with banks
  • Any manager, at a medium and senior level, who is a part of the financial decision-making team.
  • New interns and trainees with finance-related responsibilities.
  • Department heads, process owners, administrative personnel associated with budget management, financial and technical professionals, sales and marketing professionals, project managers, and anyone who needs to understand how to develop cost projections for their department, projects.

The Process of Budget Management & Control

The program is highly interactive. Delegates will be actively engaged in an on-going case study applying different management and control techniques in a work situation to ensure development of understanding and the transfer of skills. Participants will also be given a detailed set of handouts and examples.

The Benefits of Budget Management & Control

  • You will be able to further your professional skills.
  • You will make improved budgeting decisions which will increase your importance to your organization
  • You will be able to manage and control budgets effectively.
  • You will be better placed to liaise effectively with other departments on planning, forecasting & budgeting matters.

The Results of Budget Management & Control

  • Participants will not only be able to analyze various business problems but will also be able to evaluate various courses of action and make sound recommendations for action using leading software
  • New skills for strategic planning will help to make more informed and hence better management decisions.
  • Exposure to different techniques will help the company to efficiently forecast everything from cash to capital projects.
  • The knowledge gained can be shared amongst other departments of the company.

The Core Competencies of Budget Management & Control

  • Budget Management including Break Even, “What If and Sensitivity Analysis
  • Budget Control including Variance Analysis to assess the impact on major factors of production and consumption

Course Outlines of Budget Management & Control

Break-Even Analysis, Sensitivity Analysis, and What-If Analysis

  • Break-Even Analysis, Cost Behaviour, and Sensitivity Analysis
    • Identifying Fixed, Variable and Semi-variable costs
    • Identification of the level of sales/profit in order to break even
    • Identification of critical costs
    • Determining resources requirements
    • What if Analysis using Excel and leading software
  • Performing “What If” and Sensitivity Analysis to evaluate the implications of changes in major factors of production and consumption on the Cash Budget and Profit & Loss Account
  • Identification of key performance indicators for effective and focused decision making
  • Recommend various courses of action to manage the implications of “What If” and Sensitivity Analysis.
  • Developing Budget Re-Projection and Best Case / Worst Case Scenario Models
    • Planning for contingencies
    • Developing various scenarios
    • Using the Scenario tool in Excel® to explore the variable sets of assumptions while tracking the impact on the base model.
    • Building the financial simulation model using probabilistic (Monte Carlo) simulation
    • Building the financial simulation model using deterministic simulation

Variance Analysis, Reporting, Control, and Decision Making

  • Accounting Systems, Accountability and Responsibility Systems
  • Essential Elements of a Costing System
  • Establishing and Implementing a Costing System
  • Undertaking Variance Analysis and Presenting a Variance Report to decision-makers
  • Evaluation of the results
  • Making Strategic Decisions based on the Variance Report/Business Planning

 

Finance and Accounting

Training Course: Budget Management & Control


Register Now
Quick Inquiry
Discount Group Download Brochure (36)

FI2040

31 Mar - 4 Apr 2025

London (UK) - Landmark Office Space - Oxford Street

Hotel : Landmark Office Space - Oxford Street

Cost: 5250 € Euro


  About London

The UK capital of London is a city that combines the old and the new. It is as equally famous for the latest fashion and innovation as it is for its impressive heritage. London's attractions range from the Royal Palace to the DIY atmosphere of its markets. It is also a picturesque city of parks and of course, the majestic Thames River. The city extends for miles beyond its ancient core and each neighborhood has its own charming atmosphere for visitors to explore. London also wears its status as a world city proudly and the influence of different cultures is plain to see in the food and fashion of the capital.


  Things to do and places to visit in London

With so many attractions in London, anyone can find something to delight them. Art lovers will enjoy the world-renowned museums and galleries, most of which are free. Sports fans are spoilt for choice by the city's array of football clubs. Theatre and music fans have a vast list of venues to visit, whilst shopaholics have Harrods, Oxford Street, Camden and much more to look forward to after arranging flights to London.

Some unmissable London attractions include:

  • Seeing priceless masterpieces in the Tate Britain or the National Gallery.
  • Watching the changing of the guard at Buckingham Palace.
  • Visiting Trafalgar Square's famous monument.
  • Marveling at the Crown Jewels in the Tower of London.
  • Getting a bird's eye view of the city from the London Eye.
  • Tasting one of Brick Lane's famous curries.
  • Browsing the exclusive shops of Knightsbridge.
  • Visiting a market – Spitalfields for antiques, Camden for clothes or Borough Market for street food.
  • Admiring design from around the world in the Victoria and Albert Museum.
  • Looking for clues at the home of fiction's most famous detective, Sherlock Holmes.
  • Strolling through one of the lovely parks, including Hyde Park, St James' Park or Kew Gardens.
  • Eating Britain's most famous dish, fish and chips.
  • Watching the street performers in Covent Garden.
  • Enjoying the views at a South Bank cafe.
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