Budgeting and Control for Non-Finance Managers

Managing finance is one of the keys to business success. Today, more than ever, finance is the universal language of corporations – of their goals, objectives and results. Both business management and financial management are important for business survival and a competitive edge in a changing world with business and financial challenges. No matter how smart management teams are, all business planning and control will be measured and evaluated in dollars. Managers need to develop effective business plans and strategies as well as to manage costs, profit and cash.

To get and stay ahead, managers need to be "finance savvy." They need to know how to justify a request of capex budget, how to convert their business plan to profit and cash requirements, and how to control costs and cash before they get out of hand. This programme offers exactly what you need to enhance financial competency for business success and your management development.

OBJECTIVES:

• Be able to develop reasonable and realistic financial budgets aligned with business strategy and goals
• Develop and enhance budgeting and control techniques for managing costs, profit and cash more effectively
• Be cost-conscious and risk-conscious in both business and financial planning and control

KEY TOPICS:

Budgeting for Business Planning

• Overview of the budgeting cycle, process, financial targets and coordination among different departments
• Costs consideration for budgeting and control: fixed and variable costs, cost patterns and structure, the risk of fixed costs
• Reviewing a profit forecast case study: key assumptions, costs and income relationship, potential over- and under-budgeting, tips and pitfalls in budgeting techniques

Controlling Costs and Profit

• Budgetary control: variance analysis in monthly management accounts, taking corrective actions
• Cases of business success and failure: practical tips for cost control, linking finance strategy to business strategy, continuous cost enhancement, integration of hard and soft

Managing Cash Flow

• Cash flow statements: purpose, key contents, major cash inflows and outflows, distinguishing between profit and cash, reading the cash flow statement of a listed company
• From profit forecast to cash flow forecast, tips for improving cash flows

WHO SHOULD ATTEND:

• Non-finance managers and professionals with little or no accounting and finance knowledge, who are responsible for preparing budgets and controlling financial performance, from every function and staff level in any industry.

This training is the second module of a two-part Finance for Non-Finance Executive training series presented by Dew-Point. Click here​ for details of the first module of the training series.

Registration Deadline: Thursday, 11 July 2024

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