Course Description
Dates: 11-15th September, 16-20th October and 13-17th November 2023
Location: London, UK
Cost: £5000
Including: Pick up and return back to the airport, 5 days meeting rooms, training & workshops and material booklet.
To enquire: Email: enjy@caclo.co.uk Tel: 00447706008878
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Introduction:
Managers face a significant challenge in demonstrating effective leadership during difficult economic times, particularly when dealing with financial issues. The pressures of the economy can lead to hesitation and poor decision-making when it comes to budgeting. Regrettably, many managers lack the necessary training to effectively tackle the task of developing successful budgets, even in more favourable circumstances.
The implementation of effective budgets is crucial for the proper management of any organization. Since sound financial management is paramount to achieving organisational success, it is imperative that individuals involved in the budget creation and/or management process receive adequate training in practical techniques. Budgets serve multiple purposes, including facilitating decision-making, planning cash flow, making operational judgments, and contributing to the overall business planning process. Therefore, they play a central role in the efficient operation of any organization.
Our program aims to equip participants with the skills to make budgeting a compelling and engaging tool. It provides practical techniques for evaluating current costs and budgets, identifying organisational inputs and outputs, preparing for potential issues, and achieving financial objectives.
Objectives:
The conference offers several benefits, including:
• Enhanced recognition of the concepts, strategies, and practices relevant to various businesses.
• Improved ability to identify the application of budgeting techniques, principles, practices, and strategies.
• Evaluation and assessment of the different types of budget forms used.
• Increased understanding of budgeting principles, enabling better decision-making and financial management.
• Improved comprehension of forecasting techniques, enabling better prediction of future financial outcomes
• Proficiency in basic product costing, enabling effective cost analysis and evaluation.
Target Audience:
The conference is ideal for the following individuals:
• Managers and management employees who are actively involved in the budgeting process.
• Assistants of managers who support and contribute to the budgeting process.
• Individuals who are responsible for setting and managing budgets but lack the expertise or specific training in the field of finance.
• Professionals who need to develop a solid understanding of budgeting principles and techniques to enhance their job performance.
• Anyone who wants to acquire practical skills in budget creation and management to improve their overall financial decision-making abilities.
Conference outline:
Day 1:
Welcome Speech 9.30am – 10.00am
Morning Session: 10.00am – 12.30pm
• Introduction
• Evaluate the current spending budget of the organization, including manager's funds, budget forms, and pre-budgeting activity.
• Identify inherent challenges within the budgeting process.
• Assess the extent to which budget plans facilitate the presence of inherent issues.
• Identify the essential components necessary for budget preparation.
• Evaluate your financial plans.
Lunch Break: 12.30pm – 13.30pm
Afternoon Session: 13.30pm – 16.00pm
• Identify and assess the outputs of an organization.
• Determine the factors that influence these outputs.
• Validate the types of organisational inputs.
• Incorporate the inputs into your organization.
Day 2:
Morning Session: 9.30am – 12.30pm
• Identify costs and the factors influencing them (cost drivers)
• Prepare for uncertainty in budgeting.
• Recognise the importance of assumptions as useful tools to address uncertainty.
• Determine internal factors that are beyond control and external environmental factors.
• Equip individuals with resources to effectively communicate challenges and opportunities to employers, subordinates, and peers in a meaningful manner.
Lunch Break: 12.30pm – 13.30pm
Afternoon Session: 13.30pm – 16.00pm
• Identify the sources of budget figures.
• Define the key questions that need to be addressed before revenue forecasting.
• Recall the principles of effective cost budgeting.
• Verify the different types of capital expenditures.
• Develop a process for obtaining budget approval.
Day 3:
Workshop on: Planning, preparing, monitoring and controlling budgets 9.30am – 16.00pm
Lunch Break: 12.30pm – 13.30pm
Day 4:
Workshop on: Analysis techniques 9.30am – 16.00pm
Lunch Break: 12.30pm – 13.30pm
Day 5:
Site visit to a relevant organisation in London.
