Budgeting

Description

An effective Budgeting activity ensures timely, precise and reliable assessment of income and expenses. Moreover, it is considered as a priceless tool for action planning and improvement of financial results. Businesses without a reliable Budget literally move blindly in an atmosphere of insecurity, which sometimes is even a source of unpleasant surprises and unexpected developments. Last minute action is costly, lacks in efficiency and inevitably creates a negative working environment.

Budgeting allows organisations to check whether their objectives do indeed lead to profitability or are in need of revision. Moreover, it allows timely preparation of appropriate action, to ensure improved use of resources, increased cash flow and reduced loans.

Participants – financial or other executives - will have the opportunity to witness how all stages of Budgeting are developed using a contemporary software series, offered free at the seminar. For software details please click

Participants – - will have the opportunity to witness how all stages of Budgeting are developed using a contemporary software series, offered free at the seminar. For software details please click here.

Special attention is given to sales forecasting, cash flow and working capital preparation and deviations analysis.

Course Content

BUDGETING PROCEDURE – SETTING TARGETS FOR SALES

Budgeting procedure: Steps, methodology connection between Budgeting and corporate planning
Data required for the estimation of sales forecast per product and/or service category, and distribution channel. Use of forecast models
Setting sales targets per product category and ultimately per product code, or, in some cases, per customer

CALCULATING EXPENDITURE
Calculating:

General expenses
Administrative expenses
Production expenses
Sales expenses
arketing expenses
Financing

TOOLS – BUDGETING COMPLETION

Preparation of cash flow programme and working capital estimation
Administration’s review of alternative budgeting scenarios. Sensitivity analysis
Preparation of the investment budget
Forecasts of Financial Statements (balance-sheet, analysis of profit/loss statement, and cash flow), based on the budget Excel forms for calculations and automated synthesis of all profit/loss statements, in the final version of the budget

ASSESSMENT – BUDGET MONITORING

List of Critical Points of Budget Control, Monitoring Budget deviations. Reporting and dealing with deviations
Using the Budget as a tool for reduced cost, increased profitability, and improved tasks delegation

Managing Directors
General Managers
Financial Administrators

Seminars material includes:

“Budgeting” manual including Case Studies and solutions (hardcopy)
Integrated, Contemporary Software with Pivot tables; exceptional analysis and reporting capabilities
Cash-flow Programming software
Working Capital estimation software
Complete seminar presentation
Free consultancy services on the seminar topic, for an entire year, available through our website

For more information on the course related software, please click here

Nicholas J. Michaloliakos

Chem. Eng., top manager in large international companies for 20 years, Managing Director of Advanced Quality Services Ltd, a management consulting company specialising in strategy that has participated in more than 300 integrated reengineering projects.