Learn all about budgeting and forecasting. This course will help you understand how to go about preparing a budget including what information you’ll need to ask for before you start and how to review your numbers for reasonableness. You’ll see how to use typical monthly reports and learn how to input to the forecasting process.

2-3 Hours - Introductory Skills

Learning Objectives:

• Learn to prepare and review a budget
• Understand the role of forecasting
• Be familiar with cost types and behaviors
• Gain confidence using budgets including variance analysis and other month-end issues

What You Will Learn:

Introduction to budgeting

Budgeting essentials

• Budget techniques
• Phasing your budget
• Timing of revenues and costs
• Cost behavior
• Impact of changing volumes and prices

Preparing budgets

• How to prepare your budget
• How to review your budget

Using budgets

• Comparing actuals to budget
• Month-end issues

Forecasting

• Why forecast?
• The forecasting process

Using reports

• Typical reports – month, year to date and full year
• Putting it all together

Summary and conclusion