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Budgeting and forecasting are essential in managing your business effectively. This course examines why we need budgets and forecasts, identifies the differences between them and provides a practical approach to producing and presenting budgets and forecasts confidently. In addition, this course also looks at monitoring performance against budget and forecast to enable you to understand where corrective action needs to be taken.
Duration
1 Day
Principal Topics
The purpose of budgets and forecasts
Understanding the difference between budgets and forecasts
Budgeting basics - different types of budget and which is best for your business
The budgeting process
Compiling the budget
Overview of scenario planning & sensitivity analysis
When and how often to budget and forecast
Presenting and communicating budgets and forecasts
Monitoring performance against budget and forecast
Identifying corrective action
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Courses
