Annual Budgeting, if applied effectively, is a powerful Strategy Implementation tool. Furthermore, effective management of budgets to manage and control operational cost and cash flows is a key aspect in leading and managing successful organizations. Effective Budgeting skills are therefore important for all managers regardless of their function or managerial level- Skills that all Managers, HODS, Section Heads, etc. must get to ensure that they Own and Deliver on their Budgets and that they are central in achieving of organization short-term and long term goals.
By the end of the course, participants will:
- Gain insights on how to link an organization's Budget with its Strategic plan.
- Understand the various types of Budgeting Approaches and Identify the most appropriate
- Appreciate in detail how to do Activity Based Budgets
- Prepare Operational, Capital and Cash flow Budgets for their areas of operations
- Embed the concept of Keizen and Continuous Improvement in the Budgets
- Apply cost control tools, analyze management variance reports and take proper corrective action
- Get Practical Insights on Linking the Budgets with the Organizations Performance Measurement
- Get fully involved in the Organizations Budgeting Process and thereby be central in organization attaining short term and long term objectives.
- Budget Ownership by HODs and Functional Managers.
- Embed a strong Budgeting Culture in the Organization.
Who Should Participate
All involved in Planning, Strategy and Budgeting Process, ie- CEOs, HODs, Strategy, Planning & Budgeting Staff, Heads of Sections, All Managers, Supervisors, All Budget Holders, Finance and Accounts Staff, Planning & Budgeting Accountants, Reporting Accountants.
- Cost includes Facilitation, Training Materials, Lunches, Teas, Refreshments, Certificates.
- Organizations sponsoring more than 3 participants get the 4th to attend free.
- Participants are issued with a certificate of participation. ICPAK Members get CPD Hours in accordance with ICPAK rules. IHRM Members can claim CPD Points.
- This program is approved by NITA (National Industrial Training Authority). Participating organizations are eligible to claim refund of training cost in accordance with NITA rules
- Annual Budgets as a Strategy Implementation Tool
- Linking Annual Budgets to Organizational Strategic Plan
- Budgeting Approaches
- Activity Based Budgeting
- Budgets as a Tool For Cost Control
- Managing Cash flows using the Budgeting Process
- Budget Implementation, Monitoring & Control
- Variance Analysis- Functional Managers Roles
- Taking Corrective Action
- Getting Ownership & Buy In
- Embedding KPIs and the Balanced Scorecard in the Budgeting Process.
Finance, HODS and OPERATIONAL MANAGERS
Fees : Ksh 45000 plus VAT