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Training course overview
Successful budgeting has never been more crucial. This highly interactive Coventry Academy Online training course provides comprehensive solutions for all your budgeting needs. It covers forecasting income and costs, preparing and managing budgets, and using them to make informed decisions that enhance company profitability and sustainability. Participants will learn how to effectively manage both Operational and Capital Budgets, gaining a clear understanding of how budgets and forecasts contribute to strategic planning and development. Designed for individuals at every organizational level, this course will develop essential budgeting knowledge and skills, benefiting both the participants and their organizations.
What are the goals?
By attending this Coventry Academy online training course, you should achieve these goals:
- Develop Forecasting Skills
- Prepare Operational & Capital Budgets Effectively using the Latest Techniques
- Manage and Control Budgets in an Effective and Flexible Manner
- Make Budgeting Decisions
- Evaluate Capital Investment Opportunities Highlighting and Managing the Major Risks
Who is this training course for?
This Coventry Academy online training course is designed for a wide range of professionals involved in the budget process, including, but not limited to:
- Professionals Who Work with Budgets
- Finance Professionals
- Accountants
- Departmental Managers
- Team Leaders
Course Outline
Day One: Strategic Planning
- Why Strategy comes before the Budget
- The Strategic Planning Process
- Developing a Strategic Plan
- Evaluating the Legal, Economic, Political & Social Environment
- Strategic Planning Tools
- Linking the Budget with the Strategy
Day Two: Forecasting
- What is Forecasting?
- Strategic Role of Forecasting
- The Forecasting Process
- Qualitative and Quantitative Forecasting Methods in Excel©
- Forecasting Demand, Revenue & Costs
- Dealing with the Limitations of Forecasts
Day Three: Budgeting
- What is a Budget ?
- The Benefits & Limitations of Budgets
- Budget Methods – incremental, zero-based, rolling budgets and Activity Based Budgeting
- Budgeting and the Management Process
- Preparing Departmental Budgets from Forecasts
- Building the Master Budget
Day Four: Using a Budget as a Management Tool
- Linking Strategic Planning, Forecasting Budgeting and Reporting
- Budget Cost, Volume, Profit (CVP) and Break-Even Analysis
- Managing Fixed and Variable Costs
- Sensitivity & What-If Analysis
- Budgetary Control
- Variance Analysis
Day Five: Capital Budgeting (CAPEX)
- Capital Budgeting Principles
- Raising Finance
- Weighted Average Cost Of Capital (WACC)
- Methods of Evaluating Capital Investment Projects
- Comparing Different Projects And Their Returns
- Managing Financial Risk
The certificate
- A Coventry Academy e-Certificate will be provided to delegates who attend and complete the online training course