“Where do I begin?” ... “There’s no way I can predict what’s going to happen, so why bother?” ... “There’s not enough time to do this.” ... “Sure I can build it, but no one will ever use it.”

Regardless of what you think about budgets, they’re a workplace reality that won’t go away. And if you think they’re not important, perhaps it’s because you’ve never had the opportunity to put the full power of an effective budget to work for you. Your budget maps out your organization’s plan for financial success. What you need is a way to make your budgets more functional ... to simplify the entire process and make your budget an easy-to-use tool that guides you to better decisions all year long.

The Building Budgeting Skills workshop was developed to help you master the entire budget-planning and implementation process. And, unlike other budgeting training options, this workshop throws out idle theory and sticks to the hard skills you really need ... presented in terms that make perfect sense.

We’ve built our seminar objectives to help you meet your objectives.

Understand and implement the budgeting process in your work environment.
Learn when the process should start, what you need to begin and how to get the information you need. You’ll know how to arrive at your specific form and content. Decide what the budget must accomplish and how to make sure it does!

Prepare an effective budget using all the critical tools and techniques required.
Build your budget on a solid foundation of critical principles and conventions that include cost categorizing, cost “behavior,” budget assumptions, capital and operational budget options, and much more. All the tools you may have lacked are yours ... for keeps!

Prepare the proper budget for your current situation and support it with conclusive data.
By working with hands-on case studies, learn how to prepare budgets for sales: production, labor, expense, capital and cash. And you’ll do it with a clear understanding of all cost elements involved in determining the true break-even point.

Monitor the progress of your budget, armed with effective responses to contingencies and variances.
Once your budget is down on paper, you’ll always know how well it’s running, plus what potential “cuts,” cost variations, volume changes, sales and profit levels can affect it negatively or positively.

At the end of your seminar day, you will leave with a complete toolbox of budgeting skills, including:

• The ability to know what budget points are justified ... and be able to prove it!
• Instant insight into potential budget problems before you have to live with them
• An understanding of budget types and processes, and how each impacts your operations
• A complete glossary of terms dealing with each aspect of your budget process
• Confidence that your discussions with financial administrators won’t leave you struggling to understand budgeting concepts or terminology
• The tools necessary to meet your budget goals, whatever the economic environment
• The assurance that your budget will cover all your operating needs including surprises ... without padding

It’s a one-day investment that will literally pay back dividends for years to come. Your days of hoping you’ll finish within budget are over. Building Budgeting Skills puts you in full control.

So, if you’re a ...

• Business owner
• Manager
• Supervisor
• Administrator
• President
• Committee chairperson
• Department head
• Entrepreneur
• Key player on any budgeted team
• Purchasing decision-maker

Administering a Budget

• The income statement: What does it tell you about the past ... the future?
• Learn how it can pinpoint organizational weaknesses
• The balance-sheet budget: A thermometer you’ll use to take the “success temperature” of your department or organization
• The capital expenditure budget: Just how practical are your plans for expansion, research and development, new personnel, etc.?
• The cash budget: Will cash really flow as expected?
• Spot the key problems and opportunities every budgeting process uncovers

Essential Budgeting Tools

• Unit-cost budgeting: Ideal for operations-oriented environments
• Fixed-cost budgeting: The tool budget-builders reach for most often
• Review the methods available to address your unique budgeting challenges
• Zero-based budgeting: Essential for justifying proposed expenditures from the ground up

Building the Budget

• Recognize the proper elements for capitalization
• Examine capital expenditure requests
• 3 important ways to economically evaluate capital expenditures
• How to budget and control general and administrative expenses
• Develop unit indicators for budget preparation and control
• Identify overhead and determine proper allocation methods

Budget Development

• “Cash” versus “accrual” accounting — two sides of the same valuable coin
• Take the all-important first step following approval of your budget
• Use a basic accounting technology to properly compare cash inflow to outflow
• Avoid 3 typical pitfalls in consistently applying accounting principles to your budgeting process

Budget Variances

• Is the alleged variance within your control? The right perspective will make the difference
• Learn where to look first for variance factors hardest to find
• How to know when and how your budget is warning you of outside interference
• Tips on how to respond to requests for variance explanations

Monitoring the Budget

• Understand the difference between fixed and variable costs using a simple but effective illustration
• Some costs simply can’t be controlled — recognize them and budget accurately in spite of them
• Uncover indirect costs no matter how well they are hidden
• Learn and use the unit-cost concept immediately and effectively
• Establish and track monthly targets within your annual budget

Analyzing Budget “Types”

• The sales budget: Forecasting sales, preparing projections, analyzing budget responsibility and reports
• How to prepare a production budget
• Prepare a manufacturing budget including: Budgeting for raw materials, direct labor and overhead
• How to plan and prepare a research and development budget
• Budgeting terms made simple: A glossary of words you’ll use again and again