Course Description
Modern businesses are an epitome of uncertainty and complexity. Over the period, this uncertainty and complexity in business has led to the development of various managerial tools, techniques and procedures useful in managing business successfully. Of all these, budgeting is the most common and widely used standard device for planning and control. This course provides fundamental understanding of budgeting, budgeting process and includes a practical guide for preparing and mastering financial budgets.
Course Objectives
The objectives of the course are to enable participants to:
- • promote fiscal transparency and risks management.
- • ensure well-functioning medium-term budget frameworks.
- • improve performance oriented budgetary decision-making.
Learning Outcomes
By the end of this course, participants will be able to:
- • describe the different stages of budgeting
- • understand the objectives of budgeting
- • describe the links between the Medium Term Frameworks and the annual budget
- • understand the key concepts used in performance budgeting
- • understand the steps and preparation required for budget approval.
- • understand some key requirements for budget execution, monitoring and reporting