This course will help you understand the "macro" big picture and "micro" line item context and trends of finance-as well as the mechanics of developing budgets.
- Course Outline
Learn How To
- Utilize ESI's Mindset Model to understand how finance and accounting influence management decisions
- Ask the right questions to successfully create, present, monitor and manage a budget
- Persuasively negotiate for financial resources
- Communicate financial information and results to stakeholders, executives, colleagues and project teams
- Correlate budget success with its presentation in financial reports
- Recognize the relationships between primary financial statement line items by calculating and examining relevant financial ratios
In a global business environment, employees are increasingly tasked with responsibilities outside of their traditional job roles. Finance is the fastest growing area where senior managers are looking to department staff and leaders for insight, understanding and recommendations. Without understanding the fundamental links between budgets and finance, many struggle to show senior managers how their projects or departments contribute to the organization's bottom line.
This course will help you understand the "macro" big picture and "micro" line item context and trends of finance-as well as the mechanics of developing budgets. It will give you the necessary tools to make sound financial decisions for your business unit. Whether your goal is to stay on budget, increase overall cost savings or meet specific profitability targets, real-world exercises will help you become familiar with standard financial documents, and use budget and estimating methods and tools more effectively. Specifically, you'll review and discuss commonly used financial metrics to not only understand the numbers, but also to explore the not-so-obvious financial impacts of typical operating decisions and actions-from a project to organizational level.
After completing this course, you will know how to gather, compile and prioritize financial data to develop, execute and manage a budget. You will also be better able to communicate financial and budgetary information, have greater confidence in assessing finances, and participate more effectively in the business decision-making process.
Reminder: Participants who have taken Financial Considerations for Business Decision Making should not take Budget and Financial Management.
- Strategic Focus and Drivers
- Identifying and examining strategy
- Business trends
- Mergers and acquisitions
- Aggressive asset management
- Legislative and regulatory scrutiny
- Balanced scorecard
- Managing Stakeholder Expectations
- Identify and analyze stakeholders
- Getting buy-in
- The Basics of Finance
- Financial basics
- Costs, profits and profitability
- Financial statements
- Balance sheets
- Income statements
- Cash flow statements
- Budgeting Skills
- Budgeting basics
- Budget cycles
- Budgeting processes: planning, approving, managing and reporting
- Budget elements
- Gather and categorize
- Develop initial estimates
- Compile and total estimates
- Perform tradeoffs
- Finalize initial budget for approval
- Presenting a Budget for Approval
- Communicating budgets to decision makers
- Negotiating for resources
- Managing and Reporting Budget and Financial Results
- Monitoring performance
- Earned value technique
- Taking corrective action
- Budget reporting
- Closing out budgets
- Revenue recognition
Professional Development Units PDUs:
22.5ACE CREDIT recommendation:
Undergraduate: 2 credit hoursCPE Credit:
"Excellent course for people with budgetary responsibilities but no Financial background. "
Peter Harris, Senior Project Leader
- Prerequisites & Certificates
Certificate of Completion
- Cancellation Policy
ctc TrainCanada - We Never Cancel*:
We are unique in the corporate training field in that we do not cancel desktop applications courses due to low enrollment. When there are less than 3 students, ctc TrainCanada will personalize the class (students then receive more time with the instructor to address their individual needs allowing the student to complete the full course in less time) or connect the student remotely to a class at one of our other branches via TrainLive remote classroom instruction. *Microsoft Certified Courses and other technical courses require a minimum enrollment of three students. Business Skills courses require multiple students in order to run due to the interactive nature of the training. Selected Desktop Applications courses may require a minimum enrollment of two students to run. ctc TrainCanada® reserves the right to deliver Microsoft Certified and other technical courses via TrainLive remote classroom instruction in order to guarantee the course to run.
ctc TrainCanada Cancellation policy:
You may cancel or reschedule this registration in writing with no penalty with a minimum of 10 business days' notice prior to the first day of the course. Full payment is required if you cancel or reschedule this registration within 10 business days prior to the first day of the course. However, substitutions are welcome. If you do need to cancel or reschedule a publicly scheduled course within the 10 day non-cancellation period (not a client dedicated course), payment is to be made and a training voucher for a public course will be issued to you. This allows you to attend a future date for the same course at no charge (subject to availability).
No-shows will not be issued a training voucher.
Complimentary Service: We offer all our students coffee, tea, juice or pop, muffins or pastries in the morning and cookies baked in our own oven each afternoon.
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