Corporate Strategies by SkillPath
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In Budgeting Skills for Professionals, participants will learn...

  • Financial terms, phrases and budgeting concepts
  • How to turn a budget into a forecasting tool
  • Proven ways to create “lean and mean” budgets … without limiting financial resources
  • The keys to absorbing those “surprise” expenses
  • How to build a budget

Today, more than ever before, the ability to handle “the numbers” is one of the most important business skills employees can possess. Crunching numbers and coming up with a budget can be a challenge. They must understand how the strategic and planning advantages of a well-put-together budget can benefit your organization.

Our training course Budgeting Skills for Professionals was designed to do just that: Cut through layers of complex theory and confusing financial jargon and provide the nuts-and-bolts skills and techniques necessary to really understand the budgeting process.

We’ll turn budgeting into a dynamic goal-setting process rather than a dreaded chore! Contact us today!

Who will benefit from this training

New or non-financial managers who are overwhelmed with cumbersome terms and confusing theories
Experienced leaders ready to advance to a new budgeting level and discover the concepts and skills needed to get the most useful information

    SkillPath Training Information

    Corporate Strategies by SkillPath can bring the following topic to your company: Budgeting Skills for Professionals

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    Budgeting basics made easy

    • The advantages to good budgeting
    • Why budget in the first place? What to expect without a budget in place
    • Understanding and following a company’s budgeting guidelines
    • How to use an organization’s budgeting strategy
    • When and why a budget might not be needed
    • 5 features found in every effective budget
    • Common budgeting mistakes … and how to avoid them from the start
    • Budgeting words, phrases and concepts

    Budget tools and how to use them

    • How to base an operations budget on unit-cost measures
    • Tap one of the strongest budget tools: Fixed-cost budgeting
    • Start from scratch … how zero-based budgeting can help avoid past mistakes
    • Methods for conquering budgeting madness: Top-down, bottom-up and phased budgeting techniques
    • Match tasks with the best-available budgeting methods
    • The pros and cons of budgeting software
    • How to motivate a budget committee
    • The differences between needs and wants when it comes to budgeting

    Before a budget begins

    • A look at costs: Fixed, variable and otherwise
    • Direct and indirect costs … and how to tell the difference
    • Find the best sources for gathering budgeting information
    • Key financial ratios for analyzing financial statements
    • Understand the 1-, 3- and 5-year budgets
    • Use “present-value analysis” to make the best decision
    • How to customize a standard budget
    • How to decide what a budget should achieve
    • 14 key considerations for all budgeters
    • 7 quick self-checks before a budget begins

    How to build a budget

    • The “big-picture” view that can affect a budget
    • What it takes for capitalization
    • Ways to nail down revenues by kind, size and schedule
    • A closer look at capital expenditure requests
    • Understand output-input procedures
    • Best ways to budget for administrative expenses
    • How unit indicators can help control a budget
    • Cash flow and a cash budget
    • Put balance sheet and income statements to work—now!
    • How to find the vital numbers in any financial report
    • Ways to polish a rough-cut budget

    Budget administration

    • Find strengths and weaknesses through an income statement
    • How to use a balance sheet budget to gauge department or company success
    • Ways to evaluate expansion plans and other growth using the capital expenditure budget
    • The cash-flow budget and what it means to operations
    • 3 reports for tracking budget progress
    • Using flexibility to strengthen a budget
    • Stress-free ways to roll out a budget
    • How to hold a department accountable for a budget

    Budget monitoring do’s and don’ts

    • How to deal with the differences between budgeted and actual numbers
    • What to do when bad research and numbers finally come out
    • What to do when cost control is simply impossible
    • How to handle the often unavoidable “surprise variance”
    • Budget adjustments … and when to make them
    • Hunt down indirect costs and deal with them
    • How to manage the people side of budgeting
    • Regularly review a budgeting process to learn more
    • Use actual expenditures to track a budget
    • Make monthly goals to keep the annual budget accurate
    • 5 ways to respond to budget emergencies

    Analyzing variances, errors and other inconsistencies

    • 10 benefits to checking those variances
    • How to explain budget variances
    • Common variances and how to control them
    • Shades of gray: The relationship between favorable and unfavorable variances
    • Outside interference: Alarms to be aware of
    • Degrees of variance … and how to handle each
    • Best ways to use variance reports
    • 7 ways to control the budget as it plays out
    • Uncover error sources to solve budget problems
    • Seeing through the haze and maze of creative accounting

    A look at specific budget types

    • Every action, every department deserves a budget
    • Make a sales budget deliver all it can
    • Production budgets can really pay off
    • What to know about labor budgets
    • Research and development budgets cover new territory
    • How to tackle those complex marketing budgets
    • How the budget fits into a master budget plan