FINANCE
Managing Budgets
Price:
$49.00 (Incl. GST)
Course Overview
Budgets play an important role in helping organisations to achieve objectives and remain profitable.
Departmental managers are often given the responsibility to manage a budget; however, without the skills to do this they may struggle. This course has therefore been created to explain the manager’s role in managing a departmental budget. It will also look at how the organisation creates their budget and the benefits of budgeting.
Key Content
- What a budget is;
- The benefits of budgets;
- How budgets are created;
- The master budget and departmental budgets;
- The manager’s role in managing their departmental budget;
- Approving and managing spending;
- Recording and reviewing spending;
- Identifying variances;
- Analysing variances and taking corrective action;
- Reporting on the budget.
Learning Outcomes
At the completion of this course, learners should be able to:
- Explain what a budget is and when one is usually created;
- Identify the benefits of having budgets;
- Discuss how budgets are created and identify who creates them;
- Discuss their role in regards to monitoring, analysing and reporting on their departmental budget.