Budgets are one of the most important financial statements for your business. Developing and maintaining a budget supports key decisions around the performance, growth and direction of your business. This course will provide you with the foundation knowledge needed to develop a basic understanding of budgets and the budgeting process.
What you’ll learn
- Straight-forward and practical methods for developing a budget;
- How to identify ways to reduce costs;
- How to ensure others contribute and understand the budget;
- Understand different types of business budgets;
- How to develop a cash flow budget;
- The importance of understanding revenue and expenditure;
- How to set a budget timeframe;
- Commonly used budgeting terms and their financial application.
This course is ideal for
- Those with minimal budgeting and financial experience who are thinking about starting a small business;
- Technical specialists and tradies who have stepped into a role that requires management of financial resources related to projects or day-to-day operations;
- Anyone who is looking to develop a sound understanding of budgeting principles.