Performance management course

Gain a thorough understanding of budgeting and forecasting.

A hands-on one day budgeting training course covering practical budgeting and forecasting tools and financial planning technique

Target Audience

This course provides training for budgeting managers and anyone who contributes to budgets and forecasts.

Course Aim

The budgeting and forecasting training course will help demystify the world of budgeting and provide participants with the techniques and confidence to manage and control their budget effectively. Financial terms and budgeting tools will be explained in a way that a non financial manager will understand and relate to in their own line of work. The trainer will use “real life” examples and case studies and encourage participants to work in small groups, working interactively and enjoying the subject!

Course Objectives

By the end of this one day training course, the participants will have:

• Understood the role and principles of budgeting
• Confidence in using budgeting tools and techniques
• Appreciated the issues and challenges of finance management from both the “customers” and the company’s perspective
• The ability to analyze and to challenge finance and accounting information
• Appreciated the inter-dependence of business functions

Course Outline

• The Budgeting Pyramid: cash budgeting to capital budgeting
  • The Master Budget and the Budgeting Cycle
  • Forecasting techniques
  • Cash is not Profit!
  • Facilitator presentation and group discussion
• Introducing the cash budget
  • The language of Costs and Costing
  • Allocation and apportionment of Costs
  • Calculating breaking even
  • Facilitator presentation, group discussion and group exercise: ‘The Cash Budget in action’
• Introducing the Revenue Budget
  • GAAP, IFRS and Accrual Accounting
  • The Income (Profit and Loss) Structure
  • Monitoring and reporting the variances
• Introducing Capital Budgeting
  • What is Capital?
  • The Decision Tree
  • Cost Benefit Analysis
  • Opportunity Costing
  • Facilitator presentation, group discussion and group exercise: ‘You have €50,000 to spend!’
• Relating the budgets to the Balance Sheet and the P & L:
  • The stakeholders
  • The Balance Sheet and P & L
  • Introducing key financial ratios
  • Facilitator presentation and group exercise: ‘Reading’ the Balance Sheet
• The essentials of Working Capital:
  • Calculating Working Capital
  • The Working Capital Cycle
  • Working Capital “culprits”
  • Facilitator presentation and group exercise: Enhancing the “flow” of Working Capital

The training will be supported with:

• An optional participant pre-course questionnaire and/or pre-course reading on managing budgets
• A colour printed workbook with tips, techniques and space for personal notes