Name: Setting & Controlling Budgets Training Course
Rating: 4.7 (1076 reviews)

Scheduled Dates

Classroom

25 - 29 May 2026

London - UK

$5,950

10 - 14 Aug 2026

Paris - France

$5,950

28 Sep - 02 Oct 2026

Amsterdam - The Netherlands

$5,950

14 - 18 Dec 2026

Amsterdam - The Netherlands

$5,950

31 May - 04 Jun 2027

London - UK

$5,950

09 - 13 Aug 2027

Paris - France

$5,950

04 - 08 Oct 2027

Amsterdam - The Netherlands

$5,950

13 - 17 Dec 2027

Amsterdam - The Netherlands

$5,950

Online

28 Sep - 02 Oct 2026

Online

$4,950

27 Sep - 01 Oct 2027

Online

$4,950

Why Choose this Training Course?

Setting budgets is all about how to plan for the expected and the unexpected.

Controlling budgets is all about how to react and respond appropriately when the unexpected happens.

This Setting & Controlling Budgets training course deals comprehensively with the questions you have always wanted to ask about planning, budget setting, and budgetary control, in plain language that is easy to understand. It covers in detail how the tools and techniques of successful budgeting and budgetary control are applied within the overall planning framework to ensure that organisational goals are met.

It clarifies the jargon and methodology, and the links between strategy, budgeting, costing, and performance measurement. The Instructor's own business career experiences and many other real-world business scenarios are shared throughout this stimulating course to illustrate and reinforce the practical application of the tools and techniques and best practices.

This PetroKnowledge training course will highlight:

Strategic planning, budget setting, performance measurement, and shareholder wealth maximisation
Full costing, marginal costing, and activity based costing (ABC)
Operating budgets, cash budgets, capital budgets, and master budgets
Fixed budgets, flexed budgets, and variance analysis
Continuous performance improvement, and the balanced scorecard

What are the Goals?

By the end of this Setting & Controlling Budgets training course, participants will have learned how to:

Identify the links between strategic planning, budget setting, and performance measurement
Use alternative approaches to costing for planning, budgeting and budgetary control
Set an operating budget, cash budget, capital budget, and prepare a master budget
Develop budgetary control systems, and analyse variances using flexed budgets
Integrate continuous performance improvement into the budget process and link budgets and KPIs with strategy using the balanced scorecard

Who is this Training Course for?

It is crucially important for everyone involved in strategic planning, budgeting and budgetary control to be conversant with their best practice because their practical application impacts directly on the relevance and accuracy of the annual budget in ensuring that organisational goals are met.

This PetroKnowledge training course is suitable for a range of personnel from companies, corporations and governmental organisations and, in addition to financial analysts, controllers, accountants and departmental managers active in the planning and budget setting processes, will benefit business professionals working in:

General Management
Estimating and Costing
Operations
Facilities Management
Sales and Marketing
Quality Management
Engineering
Project Management
Procurement
Logistics
Research and Development
Asset Management
Human Resources
And any other financial and non-financial personnel that need or wish to understand planning, budget setting and budgetary control

How will this Training Course be Presented?

Individuals with varied experience and knowledge are encouraged to share their own experience and consider alternative approaches introduced during the training seminar. Formal presentations will be supported by numerous worked examples, the use of real-world scenarios and group discussion. In this supportive and interactive workshop environment, your Instructor will facilitate team case studies and exercises that will reinforce the hands-on application of each of the learning points and topics covered.

Difficult mathematical concepts are minimised wherever possible and handled in a visual and user-friendly way – our aim is for this to be an enjoyable learning experience.

Organisational Impact

Participants in this Setting & Controlling Budgets training course will provide benefits for their organisation from the skill set and enhanced knowledge that they will take back to the workplace:

Thinking strategically to enhance their understanding of the annual budget setting process and its links with the organisation's longer-term plans and financing requirements
Choosing the most appropriate approach to costing for more accurate planning and budgeting, better budgetary control, and improved actual performance
Improved forecasting and budgeting resulting in more efficient use of resources and exploitation of value-adding opportunities
Evaluating the financial consequences of budgeting for alternative new capital investment projects using Discounted Cash Flow (DCF) to optimise organisational value creation
Applying effective budgetary control using flexed budgets and variance analysis, the balanced scorecard, and identifying ways the organisation's budget process may be improved
Communicating more effectively with other professionals and sharing knowledge gained from the seminar throughout the organisation

Personal Impact

Participants in this training course will greatly improve their understanding of the links between the strategic planning and budget setting processes, and develop their application of budgeting and budgetary control best practice through:

Developing their ability to think strategically and prepare successful financial plans and budgets and determine the financing requirements of the organisation
Comparing fixed and variable costs, direct and indirect costs, and the use of contribution accounting and Cost / Volume / Profit (CVP) analysis
Applying traditional and Activity-Based Costing (ABC) methods and allocation of overhead costs for planning, budget setting and budgetary control
Using the appropriate techniques of forecasting sales and costs, and sales pricing, and preparation of departmental budgets, the master budget, and cash budget
Capital budgeting using the Discounted Cash Flow (DCF) techniques of Net Present Value (NPV), Internal Rate of Return (IRR), and the Profitability Index (PI)
The use of standard costing in budgetary control using flexed budgets and variance analysis, the balanced scorecard, and evaluating ways of improving the organisational budget process

Daily Agenda

Day 1: Strategic and Financial Planning

Financial Accounting and Management Accounting
The Links between Strategic Planning, Budget Setting, and Performance Measurement
Planning and Strategic Management
Mission, Vision, and Objectives
The Planning Process
External Environment Analysis, Internal Resources Analysis, SWOT and PESTEL
Shareholder Wealth Maximisation, value Creation and Financial Strategy
Financial Planning and Modelling, and Long-term and Short-term Financing

Day 2: Cost Analysis for Budgeting

What is Costing?
Cost Behaviour – fixed costs and variable costs
Contribution, Cost / Volume / Profit (CVP) Analysis and break-even models
Traceable Costs and Non-traceable Cost Allocation
Product Costs and Period Costs – product costing for inventory valuation and profit ascertainment
Direct costs, Indirect costs, Absorption Costing and Marginal costing
Product Costing for Budget Setting, Budgetary Control and Performance Measurement
Refinement of the Costing System and Activity-Based Costing (ABC)

Day 3: The Framework for Budgeting

What is a Budget – and Why Budget?
The Budgeting Framework and the various Types of Budgets: top down; bottom up; incremental; zero-based; activity-based
The Budget Process
Qualitative and Quantitative Techniques of Forecasting Sales and Costs, and Sales Pricing
Budgeting for Labour Costs and Depreciation
The Departmental Budget
Preparation of the Master Budget and the Cash Forecast / Budget
The Human Side and the Behavioural Aspects of Budgeting

Day 4: Activity-Based Budgeting (ABB), Capital Budgeting, Budgetary Control and Variance Analysis

How the Budget is controlled in your Organisation
Activity-Based Budgeting (ABB)
Budgeting for Capital Projects
Discounted Cash Flow (DCF) investment appraisal methods of Net Present Value (NPV) and Internal Rate of Return
Capital Rationing and the Profitability Index (PI)
Budgetary Control Systems and Responsibility Accounting
Standard Costing for Budgeting and Budgetary Control
Fixed Budgets, Flexed Budgets, Variance Analysis and the Reasons for Variances

Day 5: Beyond Budgeting – Broadening Performance Measurement Systems

Integrating Continuous Improvement into the Budget Process
Advantages and Disadvantages of Budgeting
How to Improve the Budget Process in Your Organisation
The Conflict between Performance Improvement and the Costing System
Lean Thinking and Performance Improvement
What next – beyond the Budget?
The Balanced Scorecard – linking strategy with budgeting and with performance measurement
Developing and Adapting the Balanced Scorecard: Financial Perspective; Customer Perspective; Internal Business Process Perspective; Learning and Growth Perspective

Certificate

On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.

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Would an alternative date be more suitable?

We offer a variety of tailored training options, customized to meet your organisation's needs. Delivered anytime, anywhere, we make it easy to bring expert training directly to your team.

Related Categories

Finance & Accounting

CERTIFICATES

An Interactive 5-Day Training Course

Setting & Controlling Budgets

Essential Budget Preparation Tools For Planning and Control