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.

*Become a member to receive 20% off

Available!

Return to Store

Download Course Outline

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.

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.

*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