Course Details

Manukau Institute of Technology

Faculty of Business and Information Technology Reception, Floor 2 Corner of Manukau Station Road and Davies Avenue, Manukau

Half Day
8.30am to 12.30pm

Budgeting for your business is essential to its success. Understand how to plan a budget for your business, how different budgets affect an organisation, and which budgeting techniques are best suited to your financial circumstances in Business Budgeting, a half-day MIT Business Course.
You will learn how to distinguish between budgets and forecasts, comparing forecasts against actual results and examining the impact of budgets on organisational performance. Don’t risk making simple mistakes in your organisation’s financial planning – sign up for this course now!
Core Content
Introduction to Budgeting
•Budgets vs. forecasts
•Sources of information
•Budgeting tools
•Budget formats and layouts
Techniques for Better Budgeting
•Incremental vs. zero-based budgets
•Fantasy factor – identify unrealistic targets
•Budget comparison with forecast and actual results
•Variance analysis
Impact of Budgets on the Organisation
•Budget targets
•Motivating and de-motivating factors
•Budget-aligned incentive programs
•Alignment with goals and strategies
Outcomes
At the end of this MIT Business Course for SMEs, you will...
•Confidently distinguish between budgets and forecasts
•Readily compare budgets with forecast and actual results
•Understand the impact of budgets on organisational performance
•Understand budget and forecast alignment
Training Style
•Presented by industry expert
•Real-life case studies
•Group discussion
•Action planning for your business with in-class feedback
•Post-course follow-up
Who Should Attend?
•SME owner/managers
•Managers and business managers in any organisation who are required to make use of budgets and forecasts in managing their business