Whether they realize it or not, every manager plays a role in their organization's financial health — which is exactly why a working knowledge of costing and budgeting has become non-negotiable in today's business world.

This professional training course from the Arab British Fellowship Training Academy is built around the practical skills needed to understand an organization's costing and budgeting processes, covering cost analysis, budget preparation, and performance measurement. It's designed for any professional who needs to build a realistic business plan by understanding how costs actually behave.

By the end, participants will be able to build a budget and make financial decisions with real confidence.

Who Should Attend?

• Anyone looking to understand the basics of budgeting and costing.
• Staff responsible for entering, or training others to enter, data into budget systems.
• Professionals in sales, marketing, and general accounting.
• Business unit professionals overseeing budget-related decisions.

How Attendees Will Benefit

After completion of the course, delegates will be able to:

• Determine the total cost of the goods and services an organization delivers.
• Learn the costing and budgeting terminology used across business functions.
• Understand why a clearly defined costing and budgeting process matters, and how it links to strategy execution.
• Master both traditional budgeting techniques and current best practice.
• Build a comprehensive performance measurement system tied to the budget.

Module 1: The Three Pillars of Budget Preparation

• Determining a company's assets — fixed assets such as property and fittings, and current assets such as receivables and inventory.
• Determining a company's liabilities, including bank loans and contractual obligations toward others.
• Determining net profit, to assess a business's economic viability, productivity, and chances of staying in the market.

Module 2: Budgeting Fundamentals and Process

• The fundamentals of finance and the building blocks of a budget.
• The budgeting process, from drafting through to getting budget approval.
• Practical tips and tricks for building a realistic budget.

Module 3: Monitoring, Control, and Strategic Use

• Budget monitoring and control, and processing the numbers.
• Using the budget as a tool to compare investment opportunities.