What is the number one reason businesses fail? Cash flow… no. Incompetent staff… not quite. Poor financial planning… yes. Running a business under the current economic climate requires a real rethink of how businesses are spending their money. Failing to plan is simply planning to fail. This session will aim to help you expand your thinking about what is relevant when creating a budget for future financial spending.

• What type of budgeting matches what purpose (for e.g., capital budgeting versus operational budgeting versus cash flow versus personal budget) • What time horizon to consider when budgeting and time value of money considerations • What goes into a budget and what shouldn’t (incl. tax liabilities, VAT, PAYE, provisional tax) • How to track the effectiveness of a budget and how to update it • What to do if things don’t go as planned o Financial risk o How to raise alternative financing (sale-and-leaseback) o Rearrangements on financial obligations

☒ Investment managers ☒Financial managers ☒Bookkeepers ☒Financial accountants ☒First year SAICA Trainees