Building and managing your budget

This course maps to capability: 3
COST Prices include GST and are subject to change
Please contact IPAA New South Wales for more information.

Overview

Today’s budgets must be intrinsically linked to the strategic aims and plans of the organisation as well as be dynamic in order to achieve realistic financial results. Line and operational managers need to play a greater role in planning and budget development. This role really requires non-financial managers to be able to detail the key budget assumptions and budget-drivers that underpin the budget. The aim of this course is to provide participants with an opportunity to better understand the planning drivers and key assumptions that underpin budget development and the key tools to be applied in monitoring, managing and forecasting budget outcomes.

Customised Agency Program

Customised agency programs are training programs uniquely designed in content and format to address the particular needs of your organisation. Customised agency programs are delivered at your workplace, thus saving your organisation money and enhancing team building.

All IPAA NSW courses are available as customised agency programs. Case studies and organisational policies and procedures from your organisation can be incorporated into these programs.

IPAA NSW matches the most appropriate consultant to the needs of your organisation, and offers flexibility in content, length and timetable, all at a convenient location. This flexible and cost-effective option benefits all agencies, particularly those with offices in regional NSW.

For further information or to receive a written proposal, contact IPAA NSW:

Tel: 02 9228 5225

Fax: 02 9241 1920

info@nsw.ipaa.org.au

Course Content

This course includes understanding the alternative approaches to budgeting and budget models, identifying the elements of key budget elements, linking planning to budgeting and identifying the planning variables and assumptions that need to be documented in order to build the budget. It looks at managing budget risks and applying alternative approaches to budgeting and forecasting. The course examines taking active management of the balance sheet and implementing budget management strategies.

Course Outcomes

By the end of this course attendees should be able to:

  • describe the role and elements of the overall budget and identify the key budget elements - revenues, expenses and cash flows
  • identify the planning variables and assumptions needed in building the budget
  • phase or roll the budget – allocating the budget across the year and rolling the budget forward into future years
  • develop key indicators to monitor budget performance
  • identify implications and corrective actions for significant variations from budget, including re forecasting the budget and rolling the budget
  • develop strategies for better balance sheet management.

Benefits to your organisation

  • more relevant budgets based on aligning plans and budgets
  • greater confidence in the variance analysis with explanations being based on changes in underlying assumptions and budget drivers

Benefits to you

  • practical descriptions of the budgeting and forecasting tools – based on the underlying budget assumptions and budget drivers
  • checklists and templates that can be applied back in the workplace