• Objectives of budgets
  • The budget process
  • Stages – what is the prime aim of a budget?
  • What is forecasting?
  • Objectives
  • Planning
  • Implementation
  • Budget and cost control focus
  • Choosing objectives
  • Links with corporate strategy
  • Links with resource management
  • Can the accounting systems cope?
  • Traditional budgeting and control
  • Benefits and drawbacks
  • The process
  • Control and feedback
  • Reporting – what can be expected?
  • Advanced budgeting and control
  • Understanding the business process
  • Taking out costs
  • Cost awareness
  • ZBB – as valid as ever
  • Reports
  • Reports for action
  • The purpose of a report
  • Content – deliverables and feedback
  • Culture is so important
  • Budgeting Preparation
  • Budgeting: a famous word but what does it mean? Constructing a definition
  • Overview of the budget process (procedures,manuals,timelines)
  • Case study: reviewing a simple budget scenario
  • Being clear about initial assumptions and limiting factors
  • Knowing where to find information that might be needed
  • Analyzing potential income and expenditure: what events/occurrences do we need to consider? Internal, external, definite/uncertain
  • Nature and behavior of costs
  • Charging department expenditure to the correct period – accruals, prepayments and depreciation
  • Break-even analysis
  • Stock forecasting and how to calculate the minimum quantity needed
  • Apportioning overheads

Facing the Actual

  • What are the variances and why are they important?
  • The budget is the plan i.e. understanding the need to proactively work towards budget and adhere to budget.
  • Comparing actuals to budgeted monthly
  • Comparing actuals to budgeted year to date
  • Understanding the significance of changes in variances
  • Causes of Budget Variances
  • Calculating Variances
  • Proper Variance Analysis
  • Flexing the budget

The Cash Budget

  • Why they are needed? Do high profits necessarily mean everything is going well?
  • Case study: Preparing a cash budget

Presenting the Departmental Budget

  • Giving clear information
  • Presenting the main variables
  • Getting agreement
  • Putting it clearly onto paper

Reporting on the Budget

  • Preparing a report
  • Providing the information to make decisions

Personal Development

  • Action planning – the essential next steps
  • Continuous professional development – what next?


This course seeks to explain the link between an organizational budgets and its strategic plan, advise managers of the overall organization goal, project organizational and department specific volume, recognizing the relationship between volume, revenue, expenses and set organizational and departmental budgeting goal using peer benchmark. This program is designed to equip all staff involved in the budgeting and forecasting process and their supervisors and managers. it will also assist organization in decisions making and planning