Budget Control Course
This Course specifies the knowledge and skills required to manage a budget within the organisation. The budget control cource explains the budgeting process and its role in planning to contain costs and control them to ensure those goals are obtained.
Completing this course will help in:
Who is the course for?
Individuals in all field of business require the skills, values and knowledge imparted by this course. The course participants will be able to expand core financial business principles into a functional tool, balances hard facts of calculation and measurement against other significant factors.
Explain the concept of budgeting pertinent to an area of responsibility.
The concept of a budget is explained concerning expenditure in an area of responsibility.
The budgeting technique employed is explained through worked examples.
Budgeting techniques may include, but are not limited to, forecasting based on historic data, and zero-based budgeting.
Determine the elements of a budget in an area of responsibility.
The elements of the budget are identified for the resources required to meet the objectives.
Internal and external constraints on a budget are identified in terms of an own organisational context.
Monitor and control actual expenses against budget.
Actual expenses are monitored according to Standard Operating Procedures.
Variances are identified and corrective measures are proposed and/or taken according to Standard Operating Procedures.