Budget is a tool that helps managers to direct effort, control and evaluate activities. It is used to drive operations and enhances organisational effectiveness. Budgeting activities fall within the purview of finance and accounts, hence this workshop is designed to help participants with the skills required to effectively carry out budgeting and budgetary control functions in organisations.
At the end of the workshop, participants will be able to:
- Adopt a disciplined approach to developing budgets;
- identify various budgeting techniques;
- prepare master budgets;
- evaluate the role of budgeting in decision-making process; and
- effectively use variance analysis to track performance.
- An Overview of Budgeting and Budgetary Control
- Budgeting within a strategic framework
- The Role of Budgeting in Decision Making
- Building a robust budgeting process
- Managing budget psychology
- A practical guide to developing budgets
- Common budgeting approaches (e.g. Incremental, value-based, zero-based, etc.)
- Preparation of Master Budgets
- Budget Monitoring and Evaluation
Lectures, discussions and case study with the use of audio-visual aids.
Heads, senior and mid-level managers in accounting, treasury, financial reporting and corporate development departments of organisations.