Budget and Finance
Budgeting Basics
At work, as managers, we’re all involved in the budgeting process in some way or another. But few of us understand why budgeting is so important. Before you begin budgeting yourself, you need to grasp some key concepts.
This course explores some basic questions about budgeting:
• What is a budget?
• Why are budgets necessary?
• What’s involved at each stage of the budgeting process?
Managing your Budget
Preparing a budget and following it through to approval involves a lot of work. But it’s only the beginning! Once approved, the budget needs careful management to ensure your plans become a reality. This process starts from day one and continues throughout the year. This course provides a structured approach for managing your budget. It shows how to:
• Review your budget to identify the key elements
• Monitor actual expenditure against budgeted figures
• Control costs
Preparing your Budget
Planning and submitting a budget for the first time can be a daunting task. Many of us approach our first budget with little or no formal training. It can be a nightmare! Effective budgeting is crucial to both you and your department. And because it’s important, it’s vital you budget properly. Too many managers make half-hearted attempts and then wonder why ACTUAL spend is nothing like expected. This course provides a structured approach for budgeting effectively, plus a range of practical tips.
Understanding Balance Sheets
Here are some of the questions asked about companies:
• What’s a healthy business?
• What’s the right balance of debt in company funding?
• How should a company’s funds be employed?
Most of us have no idea of the financial realities that underpin our companies. That’s where this course will help! It introduces some basic financial principles. You’ll understand your own role in your company’s financial well-being and be able to gauge a company’s overall financial health.
Understanding Profit and Loss
Profit is a key business goal and a fundamental source of growth. But for most of us, it remains a vague notion. This course will answer the following questions: How is profit generated? How is it measured? How do individual managers contribute to profit? What happens to it?