Basic Business Budgeting Skills2.5 CPD
This course has been designed for Small-, Medium- and Micro-Enterprises (SMMEs). Large organisations are in the fortunate position of having a dedicated finance department and a finance team readily available. The same, however, cannot be said for SMMEs. The focus within SMMEs is on creating and collecting income and, ideally, controlling expenditure. Administration functions and financial management often do not receive the necessary attention, hence the need for this course.
Financial management can sometimes be both complex and challenging therefore the aim of this module – the first of three – is to introduce you to business budgeting and cashflow budgeting.
We intend to keep this course as simple as possible with step-by-step guidance so that you are not operating on “a wing and a prayer”, and that you understand that budgeting is the basis for all business success
Once you have completed this course you will be able to:
- demonstrate an understanding of the importance of budgeting for business and why the business should have a budget.
- demonstrate a comprehensive understanding of the principles of budgeting, and the basic building blocks to apply them.
- demonstrate the required skills needed to compile a working budget for the business.
- determine and measure the actual performance of budgets against actual cash flow, and how to understand and manage variances within a budget.
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