Who is the Budgeting and Planning course suitable for?

The Budgeting and Planning course is suitable for anyone who translates business strategy into financial planning and appropriate budgets. Think of CFOs, finance managers, financial and business controllers, financial administrators, business development managers, sales managers, financial consultants and accountants. Prior knowledge of financial management is useful, but not a strict requirement. You take the course in a classroom setting with a small group.

Which topics and methods are covered in the Budgeting and Planning course?

You will cover the complete budgeting cycle, types of budgets and modern methodologies. Day 1 focuses on forecasting, sales, liquidity and investment budgets. Day 2 addresses Activity-Based Budgeting, Zero-Based Budgeting, scenario planning, rolling forecasts and Beyond Budgeting. You will also learn how to deal with budgetary slack and variance analysis between forecast and actuals.

Do I need any prior knowledge for the Budgeting and Planning course?

No specific prior education is required for the Budgeting and Planning course, but a basic knowledge of financial management is useful. You may work as a controller, financial manager, CFO or accountant, for example, and have experience with budgets or financial reports. The classroom course ties in with your day-to-day practice and builds on your existing financial foundation.

Do I receive a certificate after the Budgeting and Planning course?

Yes, on completion of the Budgeting and Planning course you will receive a certificate of participation from Learnit. This certificate confirms that you have attended the course and gained knowledge of budgeting cycles, forecasting, methodologies such as Zero-Based Budgeting and Activity-Based Budgeting, and Beyond Budgeting principles. A useful addition to your CV or LinkedIn profile.

Can I take the Budgeting and Planning course in-company?

Yes, you can also take the Budgeting and Planning course in-company. The trainer then comes to your organisation and the content is tailored to your own budget cycle, sector and strategic goals. Useful if several colleagues from finance, control or management need the same knowledge. The standard classroom course takes 2 days.

When should you choose a classroom Budgeting and Planning course instead of self-study or an online financial management course?

You choose Learnit's classroom-based Budgeting and Planning course if you don't just want to read theory, but want to discuss your own budget cycle and strategy with an experienced trainer and fellow professionals. You work interactively on topics such as Activity-Based Budgeting, Zero-Based Budgeting, scenario planning, rolling forecasts and Beyond Budgeting. That is difficult through self-study, because you get no feedback on your specific situation. Self-study or an online course is suitable if you only want to become familiar with the concepts. A classroom course is a better fit if you are responsible for translating strategy into budgets and are looking for practical ways to deal with issues such as budgetary slack or variance analysis.

What is the difference between traditional budgeting and the Beyond Budgeting principles covered in this course?

Traditional budgeting works with a fixed annual budget that is set at the start of the financial year and settled afterwards on the basis of variances. Beyond Budgeting abandons that fixed annual budget and works with rolling forecasts, relative targets and decentralised decision-making. Teams adjust continuously on the basis of current figures and market developments, instead of sticking to a budget drawn up twelve months ago. In the Budgeting and Planning course (classroom) we cover both approaches side by side, including their advantages and disadvantages. You will also learn why more and more financial managers are making the switch: less budgetary slack, a faster response to change and better alignment with the corporate strategy. Which approach suits you best depends on your organisation, sector and management culture.

What does Learnit's Budgeting and Planning course give me that I cannot get from a book or an online article?

The Budgeting and Planning course lasts 2 days and is classroom-based. You work with an experienced trainer in a small group and discuss situations from your own organisation. That delivers three things a book or article cannot offer. One: direct feedback on your budget cycle, forecasts and variance analysis. Two: comparison of methodologies such as Activity-Based Budgeting, Zero-Based Budgeting, Driver-Based models and Beyond Budgeting, applied to recognisable cases. Three: discussion with other finance professionals about budgetary slack, rolling forecasts and translating strategy into realistic budgets. You go home with an approach you can use on Monday, not just with theory. Suitable for self-study as a reference; for application in practice, classroom learning works faster.

How long will it take before I can actually apply what I learn in the Budgeting and Planning course in my work?

The Budgeting and Planning course takes 2 days and is designed to be directly applicable. On day 1 you work on the budget cycle and the various types of budgets (sales, production, cash, profitability, investment and project budgets). On day 2 you practise with methods such as Activity-Based Budgeting, Zero-Based Budgeting, scenario planning and rolling forecasts. Many participants apply parts of the material straight after day 1, for example when drawing up an operating or cash budget. For structural changes, such as a move to Beyond Budgeting or redesigning the budget cycle, expect a few months in practice. The sooner you apply it, the sooner it sticks. The course is taught in a classroom setting.

Which budgeting method from the course is best suited to a fast-growing organisation facing a high degree of uncertainty?

For a fast-growing organisation facing considerable market uncertainty, rolling forecasts and scenario planning (what-if) are often more practical than a fixed annual budget. In Learnit's Budgeting and Planning course (classroom-based) we cover eight methods together with their advantages and disadvantages: Activity-Based Budgeting, Time-Driven Activity-Based Costing, Driver-Based Budget models, resource planning within overhead departments, incremental budgeting, management by objectives, scenario planning and Zero-Based Budgeting. In dynamic environments, Beyond Budgeting principles are often a better fit than traditional annual budgeting, because you adjust continuously on the basis of actuals versus forecast. Which choice suits you depends on your sector, data quality and management philosophy. On day 2 you will learn to make this assessment yourself and link it to your business strategy.

How does this classroom course compare with a more extensive postgraduate controllers programme or a short e-learning on budgeting?

Learnit's Budgeting and Planning course sits between two extremes. A short e-learning module or YouTube tutorial gives you the concepts, but no practice with your own cases and no direct feedback from a trainer. A postgraduate controllers' programme easily takes a year or more, costs thousands of euros and covers far more than budgeting alone. This course focuses specifically on the budget cycle, forecasting, methodologies such as Activity-Based Budgeting, Zero-Based Budgeting and scenario planning, plus Beyond Budgeting. Suitable if you want to gain practically applicable knowledge, not if you are looking for a formal controller's qualification. Classroom-based in a small group, so you can put questions about your own organisation directly to the trainer.

How much does the Budgeting and Planning course cost and how long does it take?

You will find the current price at the top right of this course page, together with the schedule, location and delivery format. For in-company or bespoke courses we are happy to provide a quotation on request.

Budgeting and Planning course

Name: Budgeting and Planning
Price: 1250.0 EUR
Availability: InStock

Sound planning and budgeting form the basis of a financially healthy business. In this course you will get to grips with the budget cycle, forecasting and modern methods such as Beyond Budgeting. This enables you to translate strategy into well-founded financial choices.

Description

Sound planning and budgeting forms the basis for a financially healthy and future-proof business. It helps you get a grip on longer-term opportunities, risks and bottlenecks, make well-founded financial decisions and stay ahead of your competitors.

In the Budgeting and Planning course you gain insight into an organisation's budgeting cycle and into the various types of budgets and their components. You work with methods such as Activity-Based Budgeting, Zero-Based Budgeting, scenario planning and Driver-Based Budget models, and you weigh up their advantages and disadvantages.

You also work on forecasting, rolling forecasts and variance analysis. You learn how to deal with risks, bottlenecks and budgetary slack, and you discover why more and more financial managers are moving away from traditional budgeting in favour of Beyond Budgeting principles. Afterwards, you will be able to translate the company strategy into a workable financial plan and appropriate budgets.

Topics

In that time you gain a grip on your organisation's financial planning. You learn how to set up the budget cycle, which types of budgets there are and which methods best suit your situation.

Topics covered include:

The importance of budgeting and planning for sound business operations
The budgeting cycle and planning & control
Forecasting: insight into opportunities, risks and bottlenecks
Types of budget: sales, production, liquidity, return, investment and project budgets
Budget components: operating budget, cash flow budget, investment budget, balance sheet forecast and project budget
Budgeting methods such as Activity-Based Budgeting, Time-Driven Activity-Based Costing, driver-based budget models, Zero-Based Budgeting, incremental budgeting and scenario planning
Resource planning within overhead departments
Management by objectives
From strategic objectives to a suitable budget
Dealing with budgetary slack
Traditional budgeting versus Beyond Budgeting
Adjusting course with rolling forecasts
Variance analysis: forecast versus actuals

Result

After this course you will be able to translate the company strategy into a feasible financial plan and appropriate budgets. You will understand your organisation's budgeting cycle and know the main budgeting and planning methods, including their advantages and disadvantages.

You supply the right management information for sound financial decision-making and take a proactive approach to planning and budgets. You gain control over financial opportunities, risks and bottlenecks, create added value and stay ahead of the competition.

You will also be a solid sparring partner for shareholders, investors, banks and other financial stakeholders. And you will understand why more and more organisations prefer Beyond Budgeting principles to traditional budgeting.

Target audience

The Budgeting and Planning course is intended for anyone who is responsible for, or plays a role in, translating the company strategy into a well-founded financial plan and appropriate budgets. Think of the CFO, financial manager, financial controller, business controller, financial administrator, business development manager, sales manager, financial consultant or accountant.

Teaching method

The Budgeting and Planning course lasts 2 days and is taught in a classroom setting in a small group. You work with an experienced trainer from financial practice, so there is ample room for questions and your own cases.

The trainer alternates theory with practical examples, exercises and discussion. You get to know the budgeting cycle, the various types of budgets and the most commonly used methods, and you apply them directly to situations from your own work. This allows you to translate what you have learned straight into your daily practice.

You will receive course materials that you can consult during and after the course. Afterwards you will receive a Learnit certificate of participation.

Prior knowledge

No specific prior knowledge is required for this course. It does help if your work involves financial planning, budgets or business operations.

Comments

Teaching method

The Budgeting and Planning course alternates between theory and practice. Various planning and budgeting methods are covered by means of practical, recognisable assignments. You will work with useful calculation models that help you translate your business strategy into sound financial planning and budgeting. There is also ample opportunity to ask questions during the course.

In-company

Would you like to organise this training for a whole group or several groups? This can be cost-effective. For example, we can tailor the content entirely to your organisation, and training a whole group is also cheaper.

Are you looking at large numbers of participants or a complete academy? That involves a great deal. Consider planning and communication, for example, or identifying and agreeing the objectives and content of the training. Or differences in level, feedback mechanisms and safeguarding. Fortunately, Learnit has extensive experience in this field (more than 25 years) and we are happy to help you through this process.

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Language

The training is given in Dutch as standard. The trainer has a good command of English. English-language course material can be used. With a minimum enrolment of 3 participants, the training can also be given entirely in English.

Number of days:

2 days

Course times:

from 10 am to 5 pm

Study load:

14 hours

Education level:

This training is suitable for all levels.

Exemptions:

Exemptions do not apply to this course.

Preparation time:

No preparation time applies to this course.

Certificate:

At the end of the course, a certificate is issued as proof of participation.

The best training for you

At Learnit you will always find a course that takes you further. From (technical) IT skills to communication or personal leadership. You can also choose the training format that suits you best: a classroom course, a tailor-made course at your own office, an online course or an e-learning. We have the right course and the right format for everyone. Because learning in the way that suits you best delivers the best results.

Moving forward together

Taking a training course at Learnit means learning together. Together with your experienced trainer, together with your course group or together with your colleagues. And whether you take the training at home, at your office or at one of our training locations, we are always available to help you. To share our knowledge with you in a way that is genuinely useful to you. Getting further together through personal attention and understanding each other well; that is what we believe in.

Apply it directly in your work

Learning theory from a book that you can then hardly use in your work? Not at Learnit! Whichever training you take with us, you can put it to use at your workplace straight away. Because of the unique learning objectives you set together with the trainer at the start of the training. Because of the alternation between theory and (interactive) practical assignments. And by bringing the challenges you face in your daily work along to the training.