Placing the budget tool in the context of the company's information system.
- Management control process
- Different planning horizons.
- How budget controls are organized.
- The annual budget: A performance management tool.
Hands-on work
Individual brainstorming session: Describe how your company's budget process is organized.
Understanding the structure of the budget
- Budgeting prerequisites.
- The steps and players in the budgeting procedure.
- The budget creation diagram.
- Operating budgets: Sales, production, procurement, payroll, support functions.
- The provisional profit and loss account.
- Capital budgets: List and rank capital investments, commitments.
- Summary budgets: Cash budget, provisional balance sheet and cash flow, financing plan.
Hands-on work
Create a provisional balance sheet and determine a cash flow balance.
Approving your budget
- Knowing how to negotiate and sell your budget: The five key success factors.
- How can you argue for your action plans and earn support for them?
- Budgetary consolidation
- Budget adjustments and arbitration.
- Month-to-month budgeting.
Hands-on work
Using a pre-written budget, present and argue for your action plans.
Tracking and controlling your budget
- The fundamentals of budget control.
- Prerequisites for deviation analysis.
- The notion of flexible budgets.
- Knowing the main deviations: Quantity, price.
- Standard costs. Different types of costing to opt for.
- Deviation analysis: Deviations in turnover, in direct or indirect costs, in return.
- Putting corrective actions in place.
Hands-on work
Calculate and interpret the budget deviations.
Setting up a client/supplier relationship with operational staff
- Confirming the observed deviations.
- Creating a budget re-forecast or re-estimate.
Hands-on work
Based on the observed deviations, propose corrective action plans.
3d
- 21h00 
