Budgets, Costs, and Cash Flow Management

In all economic environments, a well-developed and implemented budget can be an organization's key to controlling costs and efficiently allocating resources. The budgeting process is also instrumental to the successful management of cash flows and the ultimate achievement of strategic objectives. This program expands on the basic cost management, time value of money, and capital budgeting concepts introduced in Financial Decision Making for Non-Financial Managers by taking the concepts to the next level through a combination of classroom discussion and activities. Participants will learn budgeting techniques that have helped other commercial and nonprofit enterprises to pursue initiatives, monitor progress and evaluate results, which will help them to make more effective managerial decisions in their own organizations.

Topics

• Overview of the budgeting process
• Developing budgets consistent with strategic plans and goals
• Cost behavior and flexible budgets
• Budgeting applications
  • Sales, production and administrative budgets
  • Sources and uses of cash
  • Capital budgeting decisions
• Variance analysis and statistical controls
• Budgeting as an internal control and cash management tool
• Participative budgeting and evaluating performance
• Managing the creation of organizational value through the budgeting process

Learning Outcomes

As a result of attending this program, participants will:

• Build knowledge of the budgeting process including the development and implementation of budgets to control costs and allocate resources
• Experience utilizing appropriate tools and techniques to analyze the amounts, timing, and uncertainty of cash flows
• Develop insights regarding the relationships among budgeting procedures, effective cash management, and strategic planning within an organization

Who Should Attend

Managers with budget responsibilities in for-profit or not-for-profit organizations.