AB06
- Managing Finance -
Setting and Achieving Budgets
This
course is based on the National Generic Management Skills Module
NGMS113 - Managing Finance: Setting and Achieving Budgets.
Delivery
Mode: Distance Education or Online
Duration: Approximately 20 hours
Cost:
$85 or $80 concession
The
course focuses on knowledge and skills managers need to apply continuously
to ensure that the people,
capital and material resources of an enterprise are used efficiently and
effectively, and that costs are kept
to a minimum consistent with providing quality services and products to
clients as well as short and
long term survival and growth of the enterprise.
It
provides competency based training in the development of relevant operational
budgets,
their monitoring and analysis, and the identification and recommendation
of relevant and effective
operational actions to achieve the budgets.
Participants
will be issued with a non-accredited
Statement of Attendance upon successful completion of the module.
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WHEN YOU ARE READY TO BEGIN
Once you have enrolled in this course, you will receive your first Student Notes by email.
Step 1 : Now you are ready to commence your lessons. Access the Student Notes, which you can save to your personal computer, or print depending on your preferred learning style.
Step 2 : As you work through the Student Notes, you will see a number of Activities. These Activities are also accessed through the following table, as Microsoft Word documents. As part of your Evidence for Assessment, you will need to open each Activity, save the document to your computer, enter your answers to each question and email the completed Activity, as an attachment, to the College at mvcc@mvcc.org.au
NB - Please ensure you give your email a subject heading identifying the Activity (Eg. AB02 - Managing Finance - Section 1 - Activity 0101).
Step
3 :
When you have finished the course, Please complete our online Student
Evaluation, which will take approximately 3 minutes. Thank you. Your feedback
is greatly appreciated.
| ACTIVITIES: Managing Finance - Setting and Achieving Budgets | |
| Link to Activity | Activity Title |
| Section 1 - How are budgets a tool for Managers? | |
| Activity 0101 | How do you define a budget? |
| Activity 0102 | What is the role of budgeting in management? |
| Activity 0103 | What are the benefits of budgeting? |
| Activity 0104 | Pitfalls in the budgeting process |
| Activity 0105 | How do you identify responsibility centres? |
| Activity 0106 | How do you identify responsibility centres? |
| Activity 0107 | What are the links between types of operational budgets? |
| Activity 0108 | What are the key elements in effective budgeting ? |
| Section 2 - How is an organisation's budgeting process developed? | |
| Activity 0201 | Who are involved? |
| Activity 0202 | What are their respective roles? |
| Activity 0203 | What is the most important or key budget to prepare first? |
| Activity 0204 | Where does a manager start in preparing a budget? |
| Activity 0205 | What are the advantages and disadvantages of using internal sources of data? |
| Activity 0206 | What external sources of data are used in budgets? |
| Activity 0207 | What does flexible budgeting entail? |
| Activity 0208 | What is zero-based budgeting? |
| Section 3 - How do you develop an operating budget? | |
| Activity 0301 | How do you forecast? |
| Activity 0302 | How do you develop a revenue budget? |
| Activity 0303 | How do you develop a resources budget for a manufacturer? |
| Activity 0304 | How do you develop resource budgets for a non-manufacturer? |
| Activity 0305 | How do you classify overheads in revenue and cost centre budgets? |
| Activity 0306 | How do you develop an expense centre budget? |
| Activity 0307 | How do you develop a profit budget? |
| Activity 0308 | How do you develop a cash budget? |
| Section 4 - How do you develop budget reporting systems? | |
| Activity 0401 | What is control? |
| Activity 0402 | What are the bases of a budgetary control system? |
| Activity 0403 | What budgetary responsibilities should the accountant have? |
| Activity 0404 | What budgetary responsibilities should the frontline manager have? |
| Activity 0405 | What factors should be considered in the measurement process? |
| Activity 0406 | What factors should be considered in designing budget reports? |
| Activity 0407 | How do you develop a revenue budget report? |
| Activity 0408 | How do you develop a resources budget report? |
| Activity 0409 | How
do you develop an expense budget report? |
| Activity 0410 | How
do you develop a profit budget report? |
| Activity 0411 | How
do you develop a cash budget report? |
| Section 5 - How do you identify variances and take corrective actions? | |
| Activity 0501 | What types of variances occur? |
| Activity 0502 | Who is responsible for variances? |
| Activity 0503 | How do you calculate cost variances? |
| Activity 0504 | How do you calculate revenue variance? |
| Activity 0505 | When are variances not "true" variances? |
| Activity 0506 | What are the reasons for true variances? |
| Activity 0507 | How can we correct false variances? |
| Activity 0508 | When specific action is required to correct a variance |