BUDGETING FOR MANAGERS TRAINING.

• Know the Organization's Budgeting Timeline and Procedures.
• Leverage Financial Data. 
• Work Toward Goals.
• Evaluate Performance. 
• Communicate Progress and Results.

COURSE CONTENT

•   Introduction to budgeting
•   BUDGET COMMITTEE
•   Functions of Budget Committee
•   Budget manual
•   APPROACHES TO BUDGETING PROCESS

ü    Top-Down Budget

ü    Bottom-Up Budget

•   COMPONENTS OF BUDGET

ü  Sales Budget

ü  Production Budget

ü  Direct Material Purchases Budget

ü  Labor, Overhead, and Sales General & Administrative Budget

ü  Cash Budget

•   BUDGETED FINANCIAL STATEMENTS
•   STEPS IN THE BUDGETING PROCESS

ü Update budget assumptions

ü Note Available funding

ü Step costing points

ü Create budget package

ü Obtain revenue forecast

ü Obtain department budgets

ü Validate compensation

ü Validate bonus plans

ü Obtain capital budget requests

ü Update the budget model

ü Review the budget

ü Obtain approval

ü Issue the budget

•   INFORMATION FOR BUDGETING
•   VARIANCES INVESTIGATION
•   Budget reconciliation with Actual outcome
•   Assess organization, present budget, manager's budget, budget forms, pre budgeting activity and budgeting process
•   Recognize inherent problems in the budgeting process
•   Evaluate how budget plans allow for the occurrence of inherent problems
•   Distinguish the “must” elements of planning a budget
•   Evaluate your budget plans
•   Identify and define an organization's outputs
•   Determine what controls those outputs
•   Verify the three kinds of organizational inputs
•   Integrate these inputs specifically to your organization
•   Identify costs and cost drivers
•   Prepare for uncertainty
•   Recognize assumptions as powerful tools in overcoming uncertainty
•   Determine outside environmental factors and internal uncontrollable factors

•   Provide participants with tools to effectively communicate opportunities and problems in meaningful terms to bosses, peers, and subordinates
•   Specify the key questions that must be answered before revenue forecasting
•   Recall the principles of effective cost budgeting
•   Verify the different types of capital expenditures 
•   Formulate process for obtaining budget approval