Monitoring Budget Performance
$299.00
This course provides the food and beverage processing industry supervisor with the knowledge and skills to monitor budget performance within a department or unit, and to communicate with the manager or financial consultants on budget performance.
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Return to StoreThis course provides the food and beverage processing industry supervisor with the knowledge and skills to monitor budget performance within a department or unit, and to communicate with the manager or financial consultants on budget performance.
Learning Objectives:
After completing this course you will be able to define and explain the following:
- Monitoring budget performance;
- Develop the foundations for effective budget monitoring;
- Budget process and roles;
- Types of budgets;
- Budgeting methods;
- Evaluate a budget to determine budget targets and fluctuations throughout the year;
Course Outline & Major Topics
-
- Module 1: Develop the foundations for effective budget monitoring
- Outline the budget process and roles for a food and beverage processing facility.
- Analyze different types of budgets (e.g. cash flow, operating, sales, production, personnel, marketing) and their implications at the departmental or unit level.
- Analyze different budgeting methods (e.g. incremental, activity-based, value proposition, rolling) and their implications at the departmental or unit level.
- Calculate essential ratios and indicators used in budget monitoring.
- Create operational budgets to determine:
- performance targets
- expenditure commitments and caps;
- seasonality of operations;
- risk thresholds.
- Module 2: Monitor budget performance
- Use budgets and budget monitoring reports to ensure the efficient and effective use of resources and demonstrate accountability
- Evaluate the impact of changes in operations (e.g. staffing, output) on budgets, KPI, and targets
- Monitor production and productivity to determine impact on budgets
- Communicate effectively with department managers or financial advisors on income and expenditure targets, balance of annual budget remaining, and forecasted results outruns.
- Create a budget monitoring report by identifying variances that compare the budget with actual performance and make recommendations to correct unfavourable variances.
- Use spreadsheet functions and tools to effectively monitor operations.
- Module 1: Develop the foundations for effective budget monitoring
*Receive a nationally recognized certificate for participation in this course
Who Should Take This Course?
- Owners
- Supervisors
- Production Personnel
- Business Leaders
- Remote Workers
- Human Resources
- Supervisory and Management
*Become a member to receive 20% off
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