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.
Available!
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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