BUDGETING AND BUDGETARY CONTROL

4 out of 5
4
6 reviews

RATIONALE

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.

LEARNING OBJECTIVES

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. 

PROGRAMME OUTLINE

  • 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

METHODOLOGY

Lectures, discussions and case study with the use of audio-visual aids.

TARGET AUDIENCE

Heads, senior and mid-level managers in accounting, treasury, financial reporting and corporate development departments of organisations.

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Date to be announced

4
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