Discover the importance of financial planning
This three-week course will help you explore budgeting in action as you learn how to start producing budgets.
You’ll gain the skills to prepare both functional and cash budgets, and how you can use these in your context.
By the end, you’ll understand the importance of budgets in planning for cash shortfalls and surpluses and be able to use this skill in your professional or personal life to help manage your finances.
Learn how to produce a functional budget
You’ll explore different functions within a business such as production, labour, overheads, and capital expenditure.
With this knowledge, you’ll gain the skills to create a functional budget – a budget prepared for any function within a business.
Explore a cash and master budget
To develop your budgeting skills, you’ll unpack cash budgets to understand how to detail all cash inflows and outflows. Within this, you’ll explore the difference between cash and profit and how to format a cash budget.
You’ll also discover how to accumulate all lower-level budgets and prepare a master budget to ensure you can create a comprehensive document.
Learn key budgeting skills from industry experts
Finally, you’ll unpack the resource constraints that organisations face on a regular basis, such as shortage of labour or materials. You’ll learn how to use limiting factor analysis to help you maximise profit by handling these constraints.
Learning from the financial experts at Kaplan, you’ll finish the course with practical budgeting skills you can immediately start implementing in your job or home life to make managing your finances easier.
This course is designed for anyone who wants to learn how to prepare a budget.
It will be most beneficial for those who want to understand why month-end and variance analysis is so important as a way to control the spending of an organisation.
