May 2019
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Budgeting for non-finance managers

Budgeting for non-finance managers

Budgeting for non-financial Managers – Programme Overview

This Programme provides strategic tools for preparing budgets, the budgetary process and using them to analyse and manage costs, enabling the participants to look at the bigger picture and ensure that the methods used when identifying strategies are geared toward the financial risk and cost management of the business.

The course covers:
• the definition and purpose of a budget
• common pitfalls in the budgeting process and how to avoid them
• budgeting techniques- incremental budgeting, zero based budgeting
• how to prepare different types of budget – revenue, cost, capital, cash
• practical tips for preparing an effective budget
• phasing/profiling the annual budget
• getting buy-in to the budget
• the budget presentation: what you need to be able to answer
• how to manage the budget
• what to look for when you get your monthly management accounts
• predicting expenditure
• investigating differences from the budget
• avoiding overspend and getting back on track

Who should attend the budgeting for non-finance managers course?

Any non-Finance manager & directors, can get a good grip on developing important tools for planning and decision making.

Budgeting for non-finance Managers Programme Outcomes

This budgeting for non-financial managers course will help you put together a budget that stands up to external scrutiny. This is finance training to give you confidence as well as skills. You will be able to phase your budget accurately over the year so as to understand the peaks and troughs of income and expenditure and you will be able to manage and control your budget to attain the best performance.

By the end of the Programme you will have a greater understanding of and have developed the following key attributes:
• Product Costing Systems
• Budgeting concepts
• Better way to budgets
• Concepts and Design Issues
• Activity-Based Management
• Beyond Budgeting
• Managing Customer Profitability
• Process Costing and Cost Allocation

Key Course Highlights

• Business and Financial Strategies
• Managing Financial Risk
• Cost Management Techniques
• Implementing strategic and financial Plans
• Delivering a Strategy based Business Plan

Day 1

Risk & setting the tone
An Overview of the “Profit (Value & Cost) – Cash – Risk Impact’’ Model
Overview of Financials
Introduction – The Principles of Dynamic Cost & Budget
• Using budgets to support strategy
• Objectives and methods for effective budgets
• Using budgets to monitor and manage business performance
• Alternative approaches to budgeting
• Developing and implementing Balanced Scorecards
• Beyond Budgeting
• Forecasting methods and techniques
• Identifying key business drivers
• Using rolling forecasts and ‘what-if’ models to aid decision-making

Day 2

Strategy costs and budgets
Profit, Cash & Risk
Cost and Value
SWOT, The Value Chain & 5 Forces

Develop a Score card that Delivers Improved Performance
Adding value without adding cost
Measuring performance – beyond just cost
Developing a Balanced Scorecard
Integration of performance measures into operational budgets and cost management

Day 3

Utilise new, established tools and techniques to reduce complexity and variety
Cost control and reduction:
Managing and controlling your costs
Educating your team to adapt these ideas in their work
Improving the “Cost Management and Control Culture” of your business
Cost behaviour and modelling
Cost Models for Management Decision Making
Activity Based Cost management (ABC)
Reflective Diary– Please allow 10 minute to complete this

Day 4

“Lean” and Cost management.
Managing and costing constraints.
What holds back your organisation?
What do these constraints cost you?
How could they be overcome?

Empower your team to deliver more for less.
Developing a cost conscious culture.
VFM – Value For Money Cost – Outcome Impact Model:

Capacity and Risk

Day 5

“Quicker Faster Better Cheaper” – Motivating and encouraging people to effectively manage cost and value.
Educating your team to identify cost saving opportunities.
Pros and Cons of internal service level and internal markets agreements.
Reflective Diary – Please allow 10 minute to complete this

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