Making Budgeting Work in the Real World

by Stuart Warner
access120 days access
cpd hours4 CPD hours

This course will enable you to:

  • Choose the most appropriate budgeting method
  • Devise ways to overcome weaknesses in your current budgeting system
  • Consider ways of better communicating and presenting budgets to non-financial staff
  • Meet the varying budget preparation needs of different departments

Budgeting seems so simple in the textbooks. So why does it often fail in practice? Stuart Warner explains the barriers to effective budgeting and enables you to create and manage budgets more successfully. The author's practical experience, coupled with many hours discussing the issues in the classroom, enables him to frame the key questions and open the debate about how to create an effective and efficient budgeting process.

Making Budgeting Work in the Real World is part of Nelson Croom's Issues and Debates suite of learning. Issues and Debates courses stimulate intelligent dialogue and debate and provide a valuable and evolving resource of professional knowledge and experience. These courses are topical, practical and highly relevant to today’s changing market. Each module is split into two activities: Understanding the issues and Putting it into practice. The first encourages you to think about a topic, drawing on your own professional experience and knowledge. The second helps you to put ideas and/or theories into practice as part of your day-to-day work.

Things aren't what they seem

  • Advice from the sages of budgeting
  • The budgeting cycle
  • Top down or bottom up?
  • The link between planning and budgeting
  • Organisational time and resource

Alternative budgeting systems

  • Budgeting and/or forecasting
  • Rolling versus fixed period budgeting
  • Incremental versus ZBB
  • Functional versus ABB
  • Life cycle budgeting

Issues in setting budgets

  • Approaches to forecasting budgets
  • Using spreadsheets for budgeting
  • Organisational culture
  • Non-finance budget holders
  • The participation debate
  • The perennial negotiation battle
  • Budgets as an evaluation and reward tool

Monitoring and presenting budgets

  • A suitable management tool?
  • A true measure of performance?
  • When to budget?
  • Vulnerable variances
  • Presentation pitfalls

The future of budgeting

  • Is traditional budgeting dead?
  • Living with budgets
  • Beyond budgeting? Part 1: Adaptive management
  • Beyond budgeting? Part 2: Decentralised decision making

Stuart Warner is a Chartered Accountant, author, non-executive adviser and trainer, with over two decades of experience in finance.

Stuart's goal is to help businesses increase productivity and profits through innovative and engaging finance training. He is a director of Financial Fluency Ltd and delivers finance based training programmes around the world to both finance and non-finance professionals.

Stuart has authored the following publications: 'Finance Basics' (Collins 'Business Secrets' series);'Making Budgeting Work in the Real World' (NelsonCroom); 'Dragons' Den: Grow Your Business' (Collins), which supports the BBC series; '25 Need to Know Management Ratios' (Pearson / FT Publishing).

He is currently working on another book due to be published with Pearson in 2016.

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ACCA partner with to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.

Verifiable CPD
Your course counts as verifiable CPD, if you can answer "yes" to these questions:

  1. Was the learning activity relevant to your career?
  2. Can you explain how you will apply the learning in the workplace?

You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.

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