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How to Prepare a Budget On-Site Training

The approach to this seminar is highly interactive, requiring the application of principles to case study based on the client's business.

Course Description/Agenda


Length: 3 days 
Number of Participants: Up to 20
Materials: Notebooks and handouts provided
Note: we will use your financial statements to develop custom content for 
this seminar. 

Who should attend: Financial Manager, Manager R&D, Sales/Marketing Manager, Manager General Accounting, Business Unit Manager

The approach to this seminar is highly interactive, requiring the application of principles to case study based on the client's business. Work teams of 5 or 6 will produce budgets for various business functions such as sales and marketing, general and administration, research and development. (NOTE: It is strongly recommended that one team member be familiar with accounting terminology and client accounting methods.) These separate pieces will be combined by the group into a completed budget for the "case study company." The facilitator will evaluate the final submissions. Comments upon each will be made in the summation of the course.

Budgeting and the Management Process

  • Strategy - direction and vision
  • Implementing strategy - the operational planning process
  • Budgets - the financial expression of the operating plan
  • The purpose of budgets - control
  • The human side of budgeting
  • Case study, part 1- roles and responsibilities of the team

The Framework for Budgeting

  • Elements of the budget framework
  • The financial statements
  • Advantages and limitations of budgets
  • Reporting - the key to control
  • Case study, part II - preparation of financial statements

Developing the Revenue Budget

  • Operating versus non-operating revenue
  • Revenue recognition versus sales
  • Sales forecasting
  • Profitable growth and the cost of capital
  • Pricing considerations
  • Case study, part III - the sales forecast

Budgeting Costs and Expenses

  • Cost, profit, volume relationships
  • Cost of service provided
  • Operating expenses - selling, G/A, R/D
  • Directly variable expenses
  • Fixed expenses
  • The allocation problem
  • Assignable and non-assignable expenses
  • EBIT, EBITDA
  • Case study, part IV, budgeting operating profit

Accountability for Results

  • The business unit statement
  • Variance analysis
  • Priorities
  • Long term versus short-term results
  • Contingency plans
  • How not to cut a budget
  • Case study, part V, the profit center statement

Building the Balance Sheet

  • Key financial ratios
  • The capital budget - NPV, IRR
  • The cost of capital and the hurdle rate
  • Case study, part VI, investment decision - lease or buy

Cash Flow

  • Budgeting cash requirements
  • Developing a cash flow forecast
  • The three sources of cash
  • Free cash flow
  • The completed budget

Presentation and Evaluation

  • This module will comprise a recap of the key points of the program; an evaluation of each team's budget and an appropriate conclusion.

 

More Seminar Information

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TrainersDirect Seminars

Delivery Method

 On-Site Training On-Site Training

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