For management accountants and business unit and corporate managers with responsibility for budget preparation and management. This course covers strategic planning, management control and operational or task control.
- Gain an understanding of the budgetary framework and controls
- Understand cash flow forecasting and the preparation of the operating statement
- Recap basic principles on the budgetary framework and budgetary control
- Complete a full budget preparation exercise including budgeting for; sales, production, material usage, purchases, labour cost, machine utilisation, production cost, budgeted income statement and budgeted balance sheet
- Consider budget sensitivity analysis and carry out a sensitivity analysis exercise
- Learn about fixed and flexible budgets and prepare a flexible budget
- Learn about the cash budget
Participants will cover the key issues and considerations surrounding the preparation and use of budgets and gain an understanding of why budgets are core to an organisation’s planning and control framework.