COURSE OVERVIEW

 

For any organization, it is important that management at all levels understand the importance of effective budgeting, cost control and analysis. This course, through an understanding of the principles of sound budgeting and risk management, will share with you how to integrate budgeting in your organization as part of your daily operational activities.  It will also illustrate the importance of linking your budgets to your strategic plan in your organization in order to ensure maximization of stakeholder wealth.  The course will supply you with sound principles and tools to ensure practical and efficient optimization of the biggest scarce resource in any business.

 

This course is designed to provide the participants with a detailed and up to date overview of effective budgeting, cost control and analysis. It covers the linking of department budgets to the strategic plan; deliverables; the risk issues in budgeting; the risk prevention strategy and the employment of a risk register for budget allocation; the principles of budgeting and the steps involved in preparing the different types of budgets; the concepts of budgeting for CAPEX; the different types of variance reporting and how to manage non-conformance through spreadsheet applications; the budget allocation auditing processes; and the principles of value for money auditing of budget allocation.