Real World Budgeting
Budgeting is a standard tool in most businesses, but – without care – it can have unexpected consequences and even lead to dysfunctional behaviour. This course explores the challenges of budgeting in the real world, exploring different methods of gaining a deeper insight into the pros and cons of the process.
£150 +VAT
Real World Budgeting
£150 +VAT
365 days’ access
This course will enable you to
- Explain why organisations budget and what the process is meant to achieve.
- Choose the right process for setting budgets in your organisation.
- Develop a pragmatic approach to making traditional budgeting work in the real world.
- Decide how and whether to adopt non-traditional approaches, such as zero-based budgeting and activity-based budgeting.
About the course
Budgeting is a standard tool in most businesses, but done without thought, it can have unexpected consequences and lead to dysfunctional behaviour.
This course looks at some standard approaches to budgeting and the problems you might experience when preparing a budget in the real world.
As you consider the pros and cons of the conventional budgeting process, and some key traditional and non-traditional approaches, you will start to understand how budgets can be a bad guide to future performance and may act as a constraint rather than an incentive.
Contents
The purpose of budgeting
The point of budgeting
What can go wrong?
The management process
Dealing with risk
Getting it wrong
Not the real story
Contingency Theory
The budgeting process
The importance of process
The budgeting process
Bottom up budgeting
Co-ordination and goal congruence
Management control systems
Types of budget
Incremental budgeting
Rolling or continuous budgets
Flexible budgeting
Preparing traditional budgets
Who to involve
The starting point
Limiting factors
Examples of limiting factors
Sales budget
The Statement of Financial Position
Non-traditional approaches
Zero-based budgeting
Using ZBB
Advantages and disadvantages of ZBB
Standard costing
Activity-based budgeting
Non-manufacturing businesses
Budgeting versus forecasting
Capital budgeting
The balanced scorecard
The future of budgeting
Author
John Taylor
John is a Chartered Accountant who has spent many years advising small and medium-sized businesses across the North of England. John is the author of two industry standard textbooks: Millichamp – Auditing and Forensic Accounting. He has also written several auditing textbooks for AAT courses.
39 reviews for Real World Budgeting
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Svetlana Zelina –
I liked the course, a lot of good practical cases and opportunity to test your understanding, the course tells in a very simple and short way a lot about practical budgeting.
Boineelo Mathule –
great learning
Masego Pearl Balopi –
It’s interesting as I do budgets yearly and it helps me to look at other budgeting processes which can improve the organisational processes and improve innovation, The examples are so thought provoking and relevant to my duties. This is an amazing step by step budgeting course; I would do it again. Thank you for an intense and yet easy to follow and understand course .
Eleciah Boone –
Great module… very informative.
Kimberley Estwick –
Informative
Song Zejun Young –
It is very educating, very good!
Patrick Kelly –
.
PHILIP ZAMMIT –
Patricia Thomas –
A lot of useful information, examples were good and easy to follow
Paul Camp –
Good refresher
James Turner –
great course
Stewart Winnall –
Crisp content to the core of the subject
Avril Nambiar –
Good refresher on budgeting.
Venita M.E. Farrell-Cabey –
Very interesting
Tichaona Ashton Mudokwenyu –
The CPD material was relevant in recapping key elements of the budgeting process and also introducing new approaches to budgeting
Brent Murgatroyd –
Good course covers all options and issues for budgeting
Anna Kovacs –
.
Gerard Archbold –
Challenges managers to consider role of budgeting by providing pitfalls and advantages of different forms of budgets. Nice reminder for experienced managers as well as introduction to younger ones.
Miss Natalie Woolley –
Having only ever completed one budget as Site Accountant, and with another coming up soon in my new employment, this module was as useful to me as I was hoping it would be and has given me some direction in my approach this year.
Louise Troubridge –
A realyl useful refresher and update
Martin French –
Very useful.
Ashad Mirshad –
its good course
Lydia Burchett –
seemed almost anti its own topic and one of the downloads did not work: 24475-M3FlyfarNew.xlsx just gave a message “File wasn’t available on site”.
David Machin –
Great course and very informative
Tracy Maidment –
Very interesting
Prosenjit Banik –
A whole budget template could be added with an example.
James Brammeld –
.
Simon Jordan –
Good course for all levels
Allan Young –
Good refresher of the principles, practices and pitfalls of budgeting but some of the scenario questions are to time consuming and difficult to calculate.
Steven Molloy –
Very Good Course.
Itumeleng Joseph –
Budgeting is more important in most every businesses and companies
Sanya Khan –
Very helpful in understanding and carrying out the budgeting process
Rebaone Pheko –
A very well thought out CPD paper and it has given me lot revision on my old favourite subject budgeting.
Man Ching Wong –
The course is useful
Manpreet Singh –
The course did provide various methods of budgeting in positive manner.
Argyris Marcou –
Great seminar!
James Wilson –
Pretty annoyed at the numerical inaccuracies in the Sweetiepops Activity Based Budget Question. Would expect better from an accountancy CPD course (we’re qualified accountants – we expect the model answers to be correct numerically in a course we’ve paid good money for). If you have a £300k overhead split over 5000 bags of sweets that’s £60 per bag on average (just rubbish logically – who would pay that for sweets). You can’t work out a unit set up costs per bag of sweets and then arbitrarily lets just divide that (again) by the average number of sweets in a bag etc. Rest of course perfectly sensible and good CPD topic.
Bangwe Siwawa-Moepeng –
this was a refresher course for me, i have been actively involved in the budgeting process. I use both traditional and Zero based budgeting. It gave better insights on the different methods of budgeting and i would really say, in the real world, you can use a hybrid budgeting system to achieve the best results.
Laone Seago –
….