When running a business, it is easy to focus on day-to-day issues and challenges and forget the bigger picture. Successful businesses invest time to create and manage budgets, prepare and review business plans and regularly monitor finance and performance. Structured planning and budgeting can make all the difference to the growth of a sustainable business.
This course outlines the process for effective financial planning, including where to start, what types of budgets to prepare, and how to make budgeting a value-added activity. It will provide an understanding of the essentials of planning and how they affect performance & evaluation.
Understand the basic elements of the planning cycle, system and process
Find out how budgeting helps business meet their business targets and goals
Understand the link between budget, control and performance evaluation