Course Description

This course describes the skills and knowledge required to prepare, document and manage budgets and forecasts, and encompasses forecasting estimates and monitoring budgeted outcomes.

It applies to individuals who use specialised knowledge and analytical skills to prepare and manage strategic organisational information.

This course is designed for those job functions that have responsibility for preparing budgets. These may include assistant accountants, accountants and financial officers.

After successfully completing this program candidates will be able to;

·apply their knowledge and skills to prepare budgets for a variety of purposes such as sales budget, purchase budget, cash flow budgets, expenditure budgets and accurately record and document budget reports

·prepare and document budgets and forecasting estimates, monitor and evaluate budget outcomes periodically,

·analyse the reason for variances between actual results and budget performance,

·understand the budget implementation responsibility and

·apply accounting principles and practices with organisational policies and procedures.

Skills Covered

This course covers the following key areas:

·Budgeting Fundamentals

·Forecasting and Sales Budgets

·Operating Budgets for Service and Trading Organisations

·Budgeted Financial Statements

·Budgets for the Manufacturing Industry

·Cost of Production budget and Cost of Goods Sold Budgets

·Cash Budgets

·Master Budgets

·Performance Reports

·Flexible Budgets

·Analysis of Variance

Accredited Courses FNSACC503 Manage budgets and forecasts