Successful Budgeting

Budgeting is an essential part of managing your business and this course explains why. It will enable you to eradicate errors when compiling budgets and thereby avoid financial difficulties, present budgets with confidence and accuracy and analyse variances so that corrective action can be taken Course Outline: The need to plan Basic concepts explained Budgeting as part of the business plan The budgeting process Structuring the budgets The key budgetary statements Compiling the budgets - avoiding the pitfalls Using the Zero-based approach Interaction between the statements Reviewing the budgets Using Variance Analysis Identifying corrective action Flexing the budget Updating the budget - alternative approaches Presenting the budget Action planning