Budgets and Managing Money

For managers in today’s business world, it’s essential to have a working knowledge of finance. We all play a role in our organization’s financial health, whether we realize it or not. If you don’t have training or a background in finance, you may be at a disadvantage as you sit around the management table. Understanding the cycle of finance will help you figure out where you fit into your company’s financial structure, and how to keep your department out of the red. This two-day course will help you prepare budgets and make decisions with confidence.

Learning Objectives:

• Define basic financial terminology
• Prepare a budget of any type or size
• Get your budget approved
• Perform basic ratio analysis
• Make better financial decisions

How Will You Benefit:

• Recall and identify key financial terms that are crucial for effective budget management.
• Describe the financial cycle and how it impacts the financial structure of a company.
• Explain the principles and importance of ratio analysis in managing budgets.
• Prepare detailed budgets for various departments or projects within the organization.
• Utilize basic ratio analysis tools to evaluate the financial health of a project or department.
• Analyze budget proposals to determine their feasibility and alignment with organizational goals.
• Interpret financial statements and ratios to make informed decisions about budget allocations and adjustments.
• Develop strategies for getting budget proposals approved by utilizing persuasive techniques and demonstrating alignment with organizational objectives.
• Create comprehensive financial plans that anticipate future financial challenges and opportunities.
• Assess the effectiveness of budget management within a department or project.
• Critically evaluate financial decisions using ratio analysis to ensure optimal financial outcomes.

Who Should Attend:

Any supervisor or manager that is responsible for the company financials.

Course Format:  Live Instructor Led (synchronous)

Course Duration:  16 hours

Course Prerequisites:  Participants should complete the Accounting Skills for New Supervisors course before this course or have equivalent knowledge.