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Budgeting, Forecasting and Planning May 29, 2019

Budgeting, Forecasting and Planning

Budgeting, Forecasting and Planning

What, why, how?

Budgeting is an essential part of business. Many managers have the financial responsibilities of writing and controlling budgets as well as forecasting and planning budgets.

What are budgets? Budgets are an estimated income and expenditure for a an allocated and set period-of-time.

What is the art of budgeting? Budgeting involves strategically forecasting and planning budgets over time.

So why is this essential? What are the advantages? You must link budgeting and forecasting to planning and performance in order to have successful and financially sustainable outcomes for the business.

Furthermore, budgeting preparation must be openly communicated to your team and its participants for it to be effective and properly managed.

How do you ensure your budgeting, forecasting and planning is being handled effectively?

London Training for Excellence’s, Budgeting, Forecasting and Planning, training course will teach you how to understand the what, why and how of Budgeting, Forecasting and Planning.

The course is aimed at financial and non-financial professionals including:

  • Professionals who look after current budgets and want to improve their skills.
  • Professionals who are new to a department and need look after a new budget.
  • Professionals who want to develop further in a new area of budgeting.

The course is broken down into 3 parts - What is a budget? Why do we need budgets? How do we budget? 

What is a budget?

This segment will teach you what a budget is, how a budget works and also about the different types of budgets that exist. You will get an understanding of various different budgets and how they are produced.

Why do we need budgets?

This segment will discuss areas of financial management and sustainability. This segment will look at the longer-term planning of budgets in relation to strategic organisational forecasting and planning. 

How do we budget?

This segment will look at the methods used to budget and the budgeting tools that can be used. This segment will also teach how a planned budget can be measured against an actual budget spend to give the variances and differences that can be used to monitor budgeted costs accordingly. 

If you are an established budgeting professional, a financial manager, a non-financial manager or new to budgeting, come along to London Training for Excellence's course in Budgeting, Planning and Forecasting to improve your knowledge and boost your budgeting skill set!

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