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At work, as managers, we're all involved in the budgeting process in some way or another. But few of us understand why budgeting is so important. Before you begin budgeting yourself, you need to grasp some key concepts. This course explores some basic questions about budgeting: What is a budget? Why are budgets necessary? What's involved at each stage of the budgeting process?
Participants will acquire the knowledge and skills to:
- Participants will acquire the knowledge and skills to:
- Have a clear idea of what a budget is and what it isn't
- Understand how an organisation’s financial plans affect department's budgets
- Know what happens at each stage of the budgeting process
- Be familiar with the accounting conventions necessary for effective budgeting