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We offer training in 'Budgeting Skills For Non Financial Managers'. This course includes tools, strategies and advise on how to put together effective budget and manage them. This course is part of our Finance For Non Finance Managers Programme. You can visit our website at businesssservicessupport dot com
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DELIVERED BY:BSS Management ConsultancyProduced: By Sheila Elliott MBA, FCCA, LPNLP
BUDGETING FOR NON-FINANCE MANAGERS
COPYRIGHT© TO BUSINESS SERVICES SUPPORT LIMITED 2011
COURSE OBJECTIVES
Provide participants with the knowledge &
skills to confidently prepare budgets for
their department
Provide participants with tools to monitor and control budgets
effectively.
COPYRIGHT© TO BUSINESS SERVICES SUPPORT LIMITED 2011
COURSE OBJECTIVES
Provide participants with the knowledge and skills to
confidently prepare budgets for their
department
Provide participants with tools to monitor and
control budgets effectively.
Provide practical skills to aid effective
communication with finance experts in the
organisation and outside the organisation.
COPYRIGHT© TO BUSINESS SERVICES SUPPORT LIMITED 2011
COURSE OUTCOMES
Provide participants with the knowledge and skills to
confidently prepare budgets for their
department
Provide participants with tools to monitor and
control budgets effectively.
Provide practical skills to aid effective
communication with finance experts in the
organisation and outside the organisation.
Understand practical principles for putting
together a budget
Learn how to spot weaknesses in financial performance and take
action for improvement.
COPYRIGHT© TO BUSINESS SERVICES SUPPORT LIMITED 2011
HOW TO PREPARE BUDGETDefinition of Budget
a plan expressed in money terms
COPYRIGHT© TO BUSINESS SERVICES SUPPORT LIMITED 2011
HOW TO PREPARE BUDGETAn Overview Of Budgeting As A Tool For Controlling Activities:
PLANNING
MONITORING
DECISION MAKING
CONTROL
COPYRIGHT© TO BUSINESS SERVICES SUPPORT LIMITED 2011
HOW TO PREPARE BUDGET
Benefits of Budgets:
Think Ahead
Specify Targets & Priorities
Determine Resources To Achieve Targets
Promote Accountability For Resources & Performance
Allocation Of Limited Resources Across Divisions
COPYRIGHT© TO BUSINESS SERVICES SUPPORT LIMITED 2011
HOW TO PREPARE BUDGETChallenges Associated with Budgeting:
Collating historical information & analysing them
Forecasting future events outside your control
Working collaboratively with other teams to understand the impact of your activities & actions on theirs
COPYRIGHT© TO BUSINESS SERVICES SUPPORT LIMITED 2011
HOW TO PREPARE BUDGETChallenges Associated with Budgeting:
Putting aside time to produce a robust budget
Limited expertise on the part of non-finance managers
Lack of common understanding & assumptions
COPYRIGHT© TO BUSINESS SERVICES SUPPORT LIMITED 2011
HOW TO PREPARE BUDGET
Alternative Approaches
Incremental
Zero base
Top down
Bottom up
COPYRIGHT© TO BUSINESS SERVICES SUPPORT LIMITED 2011
PLANNING AND PRODUCING YOUR BUDGETS
Best Practice Approach:
Budget setting process starts four – five
months before the start of the budget
period
Appointment of budget committee
Committee agrees budget timetable and
assumptions
