You know the old saying: “Failing to plan is planning to fail”. Budgeting is a powerful planning tool and due care should be taken to understand the budgeting process and use it to optimise your business. A budget can be seen as the Roadmap of a company/ division/ business unit/ office/ branch etc. A Roadmap that can be used to monitor and control the progress that you are making on your journey to a specific goal. This Roadmap can however also be turned into a tool of manipulation and politics which rewards wrong behaviour. We all know the “government” mentality of spending your budget just for the sake of not loosing your budget allocation, and not based on sound business decisions. The effectivity of the budgeting process is definitely dependant on the other management systems in place as well as the way in which management applies it. A budget however is a powerful tool that can be used for several business functions.

Today’s managers need to understand the financial implications of their day to day decisions and the impact they have on the business. It is also important that managers have a solid grasp of basic financial awareness in order to agree and manage budgets effectively and appreciate core finance principles. Understanding and interpreting financial information is a fundamental skill required if you are involved in any aspect of the management of a business. Almost every individual in a business makes financial decisions on a daily basis, some without even being aware of making these decisions. This course is designed to enable specialists with no financial background to understand finance and its associated terminology. It provides an introduction, to basic financial management principles and equip decision makers at a variety of levels within the organisation with tools to enhance their ability to make rational business decisions that will create value in organisations. Small business owners will also be provided with the skills required to better manage their limited financial resources. The purpose of the course is not to make the delegate a Financial expert; it’s to provide the delegate with a BASIC understanding on financial concepts that will impact on managerial decision making. Case studies will be provided as well as examples to explain concepts.

• Working with budgets • Budgets and the operational plan • Assumptions • Drawing up an effective budget • Monitoring for success • Analysing variances

• Managers/Executives (with no financial background) who are required to take financial decisions or contribute towards financial decisions • Professionals including lawyers, architects, doctors and engineers • Small business owners • Entrepreneurs • Human resource managers • Bookkeepers

• Please ensure that you have a stable internet connection for the day • For YouTube Videos that is watched online during the session • Please ensure that you will have access to You Tube on the course day. If you don’t have access to You Tube, please discuss this requirement with your Training Officer and / or IT manager • For other interactivities, it will be great if you can have Google Chrome activated on your PC or Laptop