Understanding Costs & Budgets

Non-financial managers need a good grasp of management accounting in order to manage costs and budgets. It is important to understand different approaches to budgeting and their appropriateness as well as the sources of information available to aid forecasting. You will also need to understand the nature and behaviour of costs as well as the impact of profit drivers on performance.

The learning experience

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Information

Overview

The focus of this course is management accounting. It works through the nature and behaviour of costs as well as the impact of profit drivers on performance. It looks at the different approaches to budgeting and their appropriateness as well as the sources of information available to aid forecasting.

Is it right for me?

This session is a good starting point suitable for non-financial managers or anyone moving into management who needs to understand financial information they are being presented with and understand the language of finance.

What will it cover?

Identify how budgets are put together in your organisation and your role in the process
Describe how costs behave and the impact they have on your budget and performance
Explain the impact of the different profit drivers and the influence you can have on the bottom line
Define the different types of forecasting to utilise the best approach for your budget
Use a structured process to prepare a budget, which can be used to monitor actual costs and take action to ensure the budget is met
Describe the effect of prepayments and accruals and how they impact on budgets and cash flow
Manage financial performance, by understanding variances and knowing what action can be taken
Explain the need to budget for risk and how to defend budget contingencies to reduce the impact on the business

Features

	Choose your experience
	• Training Course: Ready-to-run session • Pick & Mix: Combine topics to build a journey • Customise: Create something custom from scratch.
	Available for groups & individuals
	Durations: 90 mins – ‘Finance for Non Financial Managers’ & ‘Budget Fundamentals’ . 180min workshops more time for participation, practice, reflection & connection
	6-8 hrs on-demand learning

For groups & teams

Live session delivered virtually or in-person. Up to 15 people per programme.

£1500

Starting price + VAT

Bring in-house

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For individuals

$price

+ VAT

Upcoming dates (Select date for price info)

02-Sep-26

Virtual

10:00

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