1

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.

2

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.

3

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.

4

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.

5

Setting up a client/supplier relationship with operational staff

• Confirming the observed deviations.
• Creating a budget re-forecast or re-estimate.