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It is essential for managers to have a working understanding of finance. No matter how conscious or unconscious, we all have a part in the financial health of our organization. You may not have the right training or experience in finance to sit at the management table. Understanding the cycle of finances will help to identify your place in the company's financial structure and show you how to keep your department from going into debt. This session will help you to prepare budgets more confidently by familiarizing you with key concepts in finance, and accounting.

This budgeting class teaches students how to plan, analyze, manage, and create personal budgets. These classes will focus on the budgeting principles and concepts that have been successful for millions. The essential elements of a budget are explained to students as well as the different styles of budgets. Students learn how to create a budget plan for a company, compare budgets and prepare operating and production budgets.

Budgeting training is a comprehensive way to learn about financial risks, control costs, identify savings opportunities, establish appropriate funding objectives, develop sound strategic plan, implement those plans and evaluate the results. It also includes how to prepare for changes, correct deficiencies, fix incentives for employees, manage staffing and operations. This course covers topics such as budgeting basics and financial forecasting. It also includes information about macroeconomic indicators, financial stability and investment strategy. These topics will help you plan and manage your company's finances. These important topics should be covered in depth and comprehensively by the training course.

Budgets and Managing Money Training Outline

Course Overview

You will spend the first part of the day getting to know participants and discussing what will take place during the workshop. Students will also have an opportunity to identify their personal learning objectives.

This one-day workshop will help you teach participants:

• · Define basic financial terminology
• · Prepare a budget of any type or size
• · Get your budget approved
• · Perform basic ratio analysis
• · Make better financial decisions

Finance Jeopardy

This fun exercise will help you review some key concepts and ideas with participants.

The Fundamentals of Finance

In this session, participants will review basic financial concepts, generally accepted accounting principles, and the key players and roles in finance.

The Basics of Budgeting

Next, participants will learn what a budget is, what common types of budgets exist, and how their budget should fit into the big picture.

Parts of a Budget

Any good plan should have four parts. This session will teach participants what they are.

The Budgeting Process

In this session, participants will spend it exploring what the budgeting process should look like through lectures and a three-part case study.

Budgeting Tips and Tricks

In this session, participants will look at some dos and don’ts of budgeting.

Monitoring and Managing Budgets

In this session, participants will explore how budgets can be managed and monitored.

Crunching the Numbers

Next, participants will get involved with ratio analysis, including current ratio, quick ratio, debt ratio, net and gross profit margin, return on sales ratio, debt to net worth ratio, cash turnover ratio, collection ratio, investment turnover, and return on investment.

Getting Your Budget Approved

This session will show participants how to get around the politics and pencil-pushers and get the money that they need.

Comparing Investment Opportunities

Investment opportunities within the business can be big decisions that require proper planning. This session will give participants a quick guide to making those decisions.

ISO 9001:2008

ISO 9001:2008 is a structured process through which a company can raise the quality of the products and services that they provide, and then maintain that level. This session will introduce participants to that process and explore its impact on budgeting.

Directing the Peerless Data Corporation

Participants will spend the entire afternoon of Day Two doing an intensive role play. They will play the role of Operations Director of the Peerless Data Corp. As the trainer, you will ask them to make five financial decisions. After each decision is made, debriefing points are provided. We have also provided discussion questions for the end of the exercise.

Workshop Wrap-Up

At the end of the course, students will have an opportunity to ask questions and fill out an action plan.