Budgeting and Financial Management

Proper decision-making and contributing to your organisation requires budgeting and financial planning skills

Organisations that fail to properly plan and control their finances can quickly find themselves in difficulty. Whether the problems have occurred because of errors in the creation of the budget, or ineffective management of the budget once it is set, this course examines how to identify potential problems and suggests actions which can be taken. It also looks at ways of improving financial control using budgets, so as to avoid reduced profits and/or financial problems. It also provides opportunities for participants to apply the course content to practical examples.

Who is this Course for?

Managers and staff involved in the preparation, review or use of budgets. Anybody who needs to understand how to create and use budgets

What will you Learn?

Participants will learn how to properly create and use a budget. Participants will be able to understand the different types of costs and how they behave. They will learn the most appropriate way to compare planned budgets against actual usage, and how to interpret the result.

At the end of the Programme you will be able to:

  • Introduction to Budgeting: Show More
    • Basic budgeting concepts explained
    • Budgeting as part of the business planning
    • The budgeting cycle
    • Structuring the budget
  • Preparation and Presentation: Show More
    • The key budgetary statements
    • Compiling the budgets – avoiding the pitfalls
    • Reviewing the budgets
  • Using Budgets for Reporting and Decision-Making: Show More
    • Using budgets to undertake corrective action
    • Flexing the budget
    • Updating the budget – alternative approaches
    • Action planning

Delivery and Fees

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  1. This programme is delivered as an in house programme over 1 day
  2. Delivery is charged on a “per-day” basis. Our current fee is €1,500 per day for up to 15 attendees
  3. A fee may be charged if the client required a comprehensively tailored programme
  4. The training facility will be supplied and paid for by the client. Staff of the Institute of Finance Training will be available to help with the software set-up
  5. Programme Fees are not subject to VAT

Programme Facilitator

Richard O’Callaghan FCPFA ACMA AIPA

Richard is Director of Training with the IFT. He was previously the Chief Executive of a Recognised Accountancy Body and is currently delivering a range of finance programmes for DIT, IADT, BIFE, Accounting Technicians Ireland, Public Affairs Ireland, and the Department of Public Expenditure and Reform.

He is a Fellow of the Chartered Institute of Public Finance and Accountancy and is a Member of the Chartered Institute of Management Accountants and of the Institute of Incorporated Public Accountants. He also has a very strong information technology background, and has been particularly interested in the intersection between finance and information technology throughout his career.

He has been running finance and business skills courses for more than 18 years.