Details
An important method of financial control is the comparison of planned income and expenditure with the income received and the expenses incurred.
This course looks at budgets, what they are, how they are formulated and how they are used within a business. Different approaches to the budget setting process are examined; also the way that different parts of the same organisation look at budgets and
its potential for internal conflict unless carefully managed.
This course focuses on the practice of budgeting and forecasting income and expenditure statements, what they are, how they are formulated and how they are used within a business.
Divided into six key topic areas, the course covers:
- The purpose of budgeting
- The purpose of different operational budgets – profit and loss and cashflow
- Producing simple operational budgets
- Comparing budgeted performance with actual
- Fixed and flexible budgets
- Rolling forecasts and beyond
On completion of the course, delegates will be able to:
- Understand what constitutes a budget and why budgets are useful
- Prepare a budgeted operating budget, cash flow and balance sheet
- Understand how to analyse variances in terms of price & volume
- Use budgets and forecasts to drive business strategy
- Develop rolling forecasts and use forecasting tools
All delegates will be provided with course notes and will be issued with a certificate of attendance upon completion of the day.
‘Budgeting and Forecasting’ has been developed by Debra Adams, author of the highly acclaimed textbook 'Strategic Management Accounting for the Hospitality Industry', and is delivered over the course of one day by an experienced facilitator from arena4finance. The day is complete with course notes and refreshments. Taking a practical approach, the course is highly interactive and consists of a series of worked examples, case studies and discussions and is supported by 14-days access to our arena4finance self study centre for additional notes and resources.
Founded in March 2004, arena4finance specialises in the design and delivery of financial training and professional development for non-financial managers and career accountants.
Working with businesses of all sizes, both nationally and internationally, we are experienced in developing online and face-to-face courses and bespoke professional development programmes for businesses that want to improve their understanding of financial management and strategy; from understanding basic accounting through to working with profit and loss budgets, revenue forecasts and cash flows.
We are experienced in delivering financial awareness courses to a range of sectors including hospitality, construction, care home services, not for profit and restaurants & contract catering. Our current clients include Emirates Academy of Hospitality Management in Dubai, Institute of Hospitality, Jumeirah International, Whitbread, Les Roches Hotel School, Glion London, The University Caterers Organisation (TUCO) and Responsible Hospitality Partnership (RHP). arena4|finance has also been granted approved partner status with the Association for Public Service Excellence (APSE) to deliver courses on Food Cost Control and other finance topics. ...
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