The Central Objectives of this programme are as follows:

• Identify the importance of linking an organization budget with its strategic plan.
• Demonstrate how the budget relates to the key financial statements: Balance Sheet, Income Statement, and Cash Flow.
• Prepare the key elements of an operating and capital budget and evaluate the different budgeting approaches used.
• Apply cost control tools, analyze management variance reports and take proper corrective action.
• Calculate different capital budgeting evaluation techniques as included in a capital expenditure proposal.
• Utilize cost-volume-profit analysis in making budgeting decisions.

Designing Approach

Tailor-Made for Your Needs: Solid State Training Solutions works closely with every client as a long-term strategic partner. We conduct pre-training requirements process which includes collecting details of the registered delegates and conducting training needs analysis meetings to align the training solution with the client’s objectives.

Delivery Methodology

• Simulation – providing life-like scenarios through structured learning experiences and to improve business awareness and management skills.
• Role Play – acting-out situations in groups, under the supervision and feedback of a lead coach.
• Presentations, Videos and Video Recording – visual materials to support presentations of theory.
• Games – learning is fun with Solid State Training Solutions! Using a variety of tools and games to emphasize the learning experience.
• Discussions – use two-way communication between the trainer and the trainees to increase learning opportunities.
• Questionnaires – to gather information from the participants, attributed or anonymous, free-form questions and multiple-choice.
• Case Study Analysis – a key tool for such workshops, either individuals or groups review the materials provided to understand a key message and then present their findings to the other participants.

Organizations, both in the private and public sector need to ensure that their budget processes are aligned with their strategic goals and encourage the right behaviours throughout the organization. Decision makers within organizations need to be able to manage their budgets, understand the financial consequences of their decisions and rely upon and understand the costing information presented to them.

This interactive 2-day programme will enable managers in the private and public sector to understand and apply a range of techniques underpinning budgetary planning and cost control. These techniques will support the effective management of organizations via preparing realistic budgets aligned to organizational goals and managing performance against budget.

By the end of this course, participants will be able to gain the following:

• Understand the nature and structure of financial statements.
• Learn the major elements of financial statements.
• Understand the purpose of a budget.
• Know how to link budgets to performance indicators, organizational finance, strategies and objectives.
• Discover how to control, monitor and prepare human resources budget.
• Budget metrics and their influence on corporate strategy.
• Compile and interpret budgets.
• Managing budget variances.
• Gain hands-on-experience on building a budget.
• Accurately report expense and return on the budget.
• How budgets can be used to monitor and control a business.
• Key components and cost factors in a budget.
• Techniques for appraising investment projects.
• Understand the principles of responsibility accounting and techniques for performance evaluation.
• Understand costing and break-even.
• Monitor and control a budget.