Building Effective Budgets

Building Effective Budgets

1 Day

This course is aimed at existing or new budget holders, cost centre managers, and those who manage event or department budgets. This course gives attendees the skills to manage budgets, monitor costs and apportion expenses on an appropriate basis. This will reduce the time taken to produce and manage your budget.


On completion of this course, attendees will be able to: Use a structured approach to prepare a budget; Review the benefits and drawbacks of different budgeting methods; Know when to use each approach; Understand how to budget for expenditure; Evaluate unbudgeted opportunities; Budget appropriately for risk and defend budgeted contingencies; Budget and plan for stock ordering; Manage financial performance, understanding variances and taking action to achieve your budget and objectives; Manage costs in seasonal or cyclical businesses.

What will I learn?
Budget Preparation
  • - What are budgets and do we really need to use them?
  • - Understand the strategic corporate goals.
  • - Overview of the budget cycle.
  • - Recognise initial assumptions and limiting factors.
  • - Know where to find information that might be needed.
  • - What events and occurrences do we need to consider? Internal, external, definite and uncertain before including potential income and expenditure.
  • - Understand the nature and behaviour of costs.
  • - Use the appropriate costing method and understanding it’s relevance to decision making and budgeting.
  • - Stock forecasting, costing and ordering.
  • - Apportioning overheads.
  • - Recognise risk and contingencies.
  • - Break-even analysis.
  • - Is the finished budget achievable?
Review Actuals against the Budget
  • - Understand the corporate need to proactively work towards budget and adhere to budget.
  • - Identify the variances and understanding why are they important?
  • - Compare monthly and year-to-date variances.
Understand the effect on Cash Flow
  • - Why this is important?
  • - Do high profits necessarily mean everything is going well?
Achieve the Finished Budget
  • - Give clear information.
  • - Present the main variables.
  • - Get stakeholders to recognise their role in achieving the strategic goal within the agreed budget.
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i-Cornerstones Learning and Performance Model

Our approach is to provide the skills and knowledge to increase productivity and achieve attitudinal and behavioural change, leading to long-term improved performance, increased employee engagement and retention.

Our i-Cornerstones Learning & Performance Model is a dynamic, flexible framework that outlines the TrainingU philosophy and key stage processes we work through to ensure we deliver the exact learning programme for your needs and within your budget.



How we deliver learning
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Your Offices

If you have a number of people in your organisation with the same training need, in-house training programmes are an ideal, collaborative learning solution.

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Our Training

Ideal for single/few staff member(s) that need development in a certain area. Sharing ideas and experiences with people from other organisations can be a huge benefit.

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Virtual Learning

Enabling staff to join live classroom training via web conferences. Ideal for organisations with multiple offices or where staff are geographically spread.

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Sprint Learning

High impact 90-minute training sessions delivered either face-to-face or virtually in targeted subjects, to boost performance whilst reducing your staff time out of the business.

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Learning Services

As an extension to your in-house L&D team, we will look after all the planning and organisation of your staff training needs, from assessment of needs through to delivery and evaluation.

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We are an accredited training provider with the Learning and Performance Institute which gives you the assurance that we conform to a professional Code of Practice.

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