How to prepare a meaningful budget?

Budgeting and planning essentials

Business professionals shaking hands in office meeting

During this training programme participants will learn how to plan effectively and prepare budgets that support corporate priorities and ensure alignment across their teams and the wider organisation.

Learning objectives:

  • Understand the key concepts, challenges and best practices in planning and budgeting
  • Validate and challenge budget assumptions
  • Prepare budgets that clearly support corporate objectives
  • Analyse performance by comparing actual results with plans

Who should attend?

This programme is designed for specialists and managers involved in the planning and budgeting process, including professionals responsible for preparing, reviewing or analysing plans and budgets within their teams or across the organisation.

Training Agenda:

 

Introduction to planning

  • Differences between forecasting, planning and budgeting
  • Risk vs uncertainty
  • Levels of planning
  • Goal congruence vs dysfunctional behaviors
Strategic planning
  • Strategy models, including rational and emergent models of preparing strategy

 

Responsibility accounting

  • Responsibility centres
  • Controllability of variables
  • Key performance measures for each centre

 

How to prepare an effective budget?

  • Principal budget factor
  • Master budget
  • Budget committee

 

Methods of preparing budgets: what are they when they should be used

  • Incremental budgeting vs Activity Based Budgeting vs Zero Based Budgeting
  • Periodic vs rolling budget

 

Human aspects of budgets

  • Motivation vs evaluation
  • Top-down approach
  • Bottom-up approach

 

Preparation of budgets for each main element of financial statements

  • Profit or loss account budget
  • Cash flow budget
  • Balance sheet budget

 

Evaluation of results

  • Fixed, flexed and flexible budgets
  • Variance analysis

Additional Training Details:

Duration: 

10 hours in total

Language:

English

This training program is currently not part of PwC's Academy Open Calendar. It is offered as an in-house training solution depending on your business needs and the personal development needs of your teams. Plesae contact us for additional information and to request an offer. 

Contact us

Ginka Iskrova

Ginka Iskrova

Business Development Director, PwC Bulgaria

Tel: +359 89 841 5311

Stefania  Belova

Stefania Belova

PwC's Academy Coordinator, PwC Bulgaria

Tel: +359 89 423 9115

Gabriela Pavlova

Gabriela Pavlova

PwC’s Academy Coordinator, PwC Bulgaria

Follow us

Register for a course

Discover other upcoming training topics

Receive Academy news and information about upcoming trainings and events