IMI - International Company for Human Resources & Management Development

Budgeting & Budget Control

Like it or not, the budget is the yardstick that top management uses to measure your actual performance.

Learn budget planning skills and see how your managerial decisions translate into money! This 2-day workshop will cover the entire budgeting process—from fundamentals through development and performance analysis.

By the end of the Course the participants will be able to:

  • By attending this program participants will:

    Better understand financial planning fundamentals, and how budgets are formulated.

    Formulate operating and capital budgets.

    Think and analyze from a master budget perspective.

    Use budgets to enhance performance and control variances.

    Understand the effect of current market changes on the planning process and the company’s targets.

    Gain better analytical skills, through conducting financial analysis to data generated from financial statements and other external factors that are used in making financial forecasts.

  • Who Should Attend?

    All levels of employees in any organization that prepare budgets or in charge of taking financial decisions.

Program Content

  • Introduction to the fundamentals of financial planning.

    Budgeting as a planning tool.

    Budgeting as performance valuation and control tool.

    Advantages, Disadvantages of budgets and the use of rolling estimates.

    Forecasting techniques used in financial planning.

    Operating budgets: Sales, production, material, marketing…

    Capital budgets: capital expenditures and fixed assets acquisitions.

    Techniques for evaluating capital expenditures; Net present Value, Internal Rate Of Return, Average Accounting Return, Payback Period.

    Budget assumptions and limitations.

    The use of budgets in controlling performance, the process of measuring the actual results with the budgeted numbers and the variance analysis.

    The process of budgeting continuous review and update.

    Rolling estimates versus the classical form of budgets.

    The frequency of budget review according to the volatility of cost and price changes.