Working with costs and budgets
Overview
Introduction to financial basics. A ‘Finance’ for non-financial managers approach to help develop robust knowledge of the essential principles, tools and techniques for managing business finances.
Learning objectives
- Know how to work to a budget
- Understand costs within an organisation
Who is it for?
Managers with budgetary responsibilities or those who impact on organisational costs to raise awareness of the need for cost control.
Course content
- The nature and purpose of budgets, and the advantages of budgetary control
- Methods to monitor variance of actual performance against budget
- Causes of variance, their significance and ways of reducing adverse effects
- How to gather information for use in determining and/or revising budgets
- Definition of fixed and variable costs; concept of break even, especially in relation to own organisation
- The purpose and nature of basic cost statements; use of standard costs
- Role of the manager in cost control
- Mechanisms to maintain control of costs, and how to select the optimum method
Contact us to book this course or discuss your requirements in more detail.
