Budgeting for Non-Finance Managers
Overview
This course is designed to help ‘demystify’ the world of financial budgeting, accounting and provide delegates with skills and knowledge to understand the impact of a departmental budget.
Understand finance terminology, underlying principles and the basic principles of successful budgeting. Be better equipped to make informed decisions and understand how to analyse budgets and suggest potential corrective action required. Participants experience how their own actions contribute to the organisation’s top and bottom lines.
Open to all employees who could benefit from developing their understanding of how finance impacts their role and their business area.
Objectives
- Explain basic principles and terminology of finance.
- Be able to ask appropriate questions and understand the answers.
- Achieve better communication and working relationship between Finance and Line Managers.
- Budgeting for income/expenditure and cashflow.
- Effectively monitor and control a budget.
- Explain the differences between income/expenditure, cash and capital budgets
- Exploring the different types of costs
- Differences between capital expenditure and operational expenditure budgets
- What finance do and what budget managers do
Training outcomes
- To be better informed of the budgeting process
- To build your confidence when it comes to reading/analysing financial information
- Better understand what is required of a budget manager
- Know the information your accountant or finance department send to you, instead of just putting it to the side and fully trusting them
- To understand the story of the financials of an organisation
- To know how to converse better with finance professionals
Testimonials
Zahoor has the ability to simplify Finance for those who find it a great challenge. I speak for myself and my learners to whom Zahoor delivered Finance workshops to. Zahoor is able to capture and maintain the learners attention in a manner I’ve not seen before within this subject. As a result the learners were able to produce great showcases for their portfolio and understand more about their departmental budgets, monitor them effectively and make suggestions of where value for money could be achieved further. CX – ITEC Training
Zahoor is a great communicator. He was really clear and worked at a great pace and covered everything we needed. He continuously asked us if we had any questions, was flexible in how we communicated with him (eg. via chat or verbally), provided good breaks and timings and managed expectations well from the outset. EHG – Transport for London
Brilliant. One of the best trainers I’ve worked with. Positive attitude, very good knowledge, ability to share it was on exceptional level, engaging with audience and the best part is – he made everyone feel secure on this training so we could say what we wanted freely and he referred to it always with respect, relevant examples, comments and business cases. I would re-join this course again frankly speaking. For attitude I would give him 11. TG, Fujitsu
Agenda
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Registration and GovPD Welcome Address
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Trainer’s Welcome Address
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Basic Principles of Finance
- Go over the four main principles of finance
- The behavioural elements of finance
- Interactive exercise (all together)
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The Financial Statements
- Brief description of the three main statements
- Go through the details of one of the financial statements
- Exploring what the various terms mean
- Going through how accruals work
- The finance hack to understanding the language that is used
- Interactive exercise (all together)
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Break
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The Financial Statements Continued
- Explore the two main costs
- Look at cost v benefit
- How the principles play their part in putting the numbers together
- Finance for profit-making and not-for-profit organisations
- Interactive exercise (all together)
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Lunch
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Budgeting
- What is a budget
- Building the budget
- Exploring the three other types of costs
- Financial coding
- The budget template
- Interactive exercise (all together)
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Forecasting
- What is forecasting
- How forecasting differs from a budget
- When language gets confusing and how to avoid this
- The various ways of budgeting
- Interactive exercise (all together)
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Break
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Managing Your Budget
- Best practice when it comes to budgeting
- What not to do
- Accounting for differences
- Interactive exercise (all together)
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Capital and Operational Budgets
- The differences between the two
- Why there are separate budgets
- Knowing the difference between OpEx and CapEx
- Interactive exercise (all together)
- Accruals and how this really helps us to manage our budgets properly
- Recommended reading and further action
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Trainer’s Summary and Close
*Programme subject to change
Get in Touch
Book Now
- Public Sector £550 + VAT
- Private Sector £620 + VAT
- Voluntary Sector £480 + VAT
Trainer
Zahoor Bargir
Zahoor is a personable and versatile finance trainer who is experienced in delivering training that is interactive, effective and fun. A qualified accountant by profession, he has worked as a consultant and manager in numerous sectors before specialising as a trainer.
He has worked at companies like PwC, Diageo and UNICEF, as well as start-ups and other SMEs. Experience of working in different industries has made it easier for him to tailor his training to people working in a variety of sectors.
Having worked with such an array of companies, Zahoor has developed a knack for communicating complex techniques into their core component parts. He is, therefore, passionate about helping others see the simplicity in the numbers and what they mean.
