How to Set & Manage a Budget

Who should attend?

All managers need to have a basic grasp of finances if they want to progress in their career.  Even those who have ‘made it already’ know the importance of understanding finances and recognise the gaps in their own knowledge. For this reason, this course spans many job roles and is aimed at those who want to develop their financial understanding on a solid foundation of costs and budgets

Why should you attend?

Financial appreciation is something all good supervisors, managers and senior managers must have in order to perform well in their role.  We accept that you don’t have to be accountancy trained, but having some confidence around the ‘numbers of the business’ will stand you in good stead, regardless of your role.  This course provides the solid foundation on which you can build.

Course outline

During this course you will learn about:

• The nature and purpose of budgets and the advantages of budgetary control
• Methods to monitor variance of actual performance against budget
• Causes of variance, their significance and ways of reducing adverse effects
• How to gather information for use in determining and/or revising budgets
• Definition of fixed and variable costs; concept of break even
• The purpose and nature of basic cost statements; use of standard costs
• Mechanisms to maintain control of costs, and select the optimum method
• Your role in cost control

Assessment

For those seeking recognition for their learning, this course is based on the ILM unit: Understanding Costs and Budgets in an organisation and successful completion of the assignment will result in the achievement of 1 credit at Level 3.

Progression

For those seeking to achieve a qualification at Level 3, you will need to achieve a further 3 credits for the ILM Award or 12 credits for the ILM Certificate.

Cost

Course: £205.00 +VAT

Time & Location

9:30AM until 1:00PM @ Online via MS Teams