Who is this for?
Staff who are required to create and use budgets or forecast planned income and expenditure for any part of their business.
Why should I take part?
Budgeting and Forecasting is designed to benefit both operational and departmental managers in an organisation. An important method of financial control is the comparison of planned income and expenditure with the income received and the expenses incurred. This course looks at budgets, what they are, how they are formulated and how they are used within a business. Different approaches to the budget setting process are examined; also the way that different parts of the same organisation look at budgets and its potential for internal conflict unless carefully managed.
Divided into the following key topic areas, the course includes:
- The purpose of budgeting and forecasting, environmental scanning, analysing historical data and assessing the competition.
- The purpose of different operational budgets – profit and loss and cash flow.
- Producing simple operational budgets for profit and cash.
- Updating the forecast, comparing budgeted performance with actual using variance analysis and rolling forecasts and beyond.
How will it help me?
During the event, you will…
- Prepare a budgeted operating statement
- Use budgets and forecasts to drive business strategy
- Develop rolling forecasts and use forecasting tools
Following the event, you will…
- Understand what constitutes a budget and why budgets are useful
- Understand how to analyse variances between actual and budget in terms of price & volume
0900: Delegates to arrive at TUCO HQ by this time for registration
0930: Start of course
1100: Break - Tea and Coffee
1130: Course Continues
1230: Lunch - Provided by TUCO
1330: Course Continues
1500: Course Continues
1600: End of Course
Please note, this is subject to change. Final itineraries will be uploaded to your Dashboard approx. 1 week prior to event commencement.
About the Trainer:
The day course will be run by Debra Adams, Head of Professional Development at arena4finance. She is a leading practitioner in delivering courses to develop fundamental financial skills in the hotel and catering sector and is the author of the highly acclaimed textbook 'Management Accounting for the Hospitality, Tourism and Leisure Industries.’
Additionally, Debra has been the Head of Professional Development at the Hospitality Professional Association (www.hospa.org) for over 10 years and was awarded the HOSPA Paragon Award in 2014 for her commitment to financial and revenue management education.
Travel and Accommodation:
TUCO HQ is located at National House 3rd Floor, 36 St Ann Street, Manchester, M2 7LE. It is a short walk from Manchester Piccadilly Train Station and Victoria Train Station.
TUCO Ltd has a corporate contract with Motel One Hotel. The cost per room (single occupancy) is £69.00 INC VAT and has a 100% cancellation fee up to 6pm on the day of the reservation. To benefit from this contract please quote TUCO at the time of booking.
36 St Ann Street