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Understanding Costs & Budgets
Hemsley Fraser

Blended virtual classroom course

Summary

Price
£750 inc VAT
Study method
Online + live classes
Duration
3 hours · Full-time
Qualification
No formal qualification
Certificates
  • Certificate of completion - Free
Additional info
  • Tutor is available to students

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Dates

Start date
End date
02/09/2026
02/09/2026

Overview

The focus of this session is management accounting. It works through the nature and behaviour of costs as well as the impact of profit drivers on performance. It looks at the different approaches to budgeting and their appropriateness as well as the sources of information available to aid forecasting.

This interactive session gets participants thinking about how they put budgets together, what to include and other adjustments that need to be considered. It uses a seven-step budgeting process, to link budget to strategy and improve the negotiating position, as well as identifying the reasons for variances occurring and the remedial action that can be taken. Through the use of case studies and business examples, participants can make links to the controlling and monitoring of their own budget areas.

Certificates

Description

Blended virtual training programme

  • 1x3hr virtual expert-led sessions
  • 1:1 Virtual coaching session
  • On-demand digital learning playlist

What will I learn?

  • Identify how budgets are put together in your organisation and your role in the process
  • Describe how costs behave and the impact they have on your budget and performance
  • Explain the impact of the different profit drivers and the influence you can have on the bottom line
  • Define the different types of forecasting to utilise the best approach for your budget
  • Use a structured process to prepare a budget, which can be used to monitor actual costs and take action to ensure the budget is met
  • Describe the effect of prepayments and accruals and how they impact on budgets and cash flow
  • Manage financial performance, by understanding variances and knowing what action can be taken
  • Explain the need to budget for risk and how to defend budget contingencies to reduce the impact on the business

Who is this course for?

This course is suitable for non-financial managers and anyone new to managing costs and budgets. It looks at the base knowledge needed in order to compile and manage budgets and is therefore also useful for refreshing ideas, and formalising and filling in knowledge gaps.

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Legal information

This course is advertised on Reed.co.uk by the Course Provider, whose terms and conditions apply. Purchases are made directly from the Course Provider, and as such, content and materials are supplied by the Course Provider directly. Reed is acting as agent and not reseller in relation to this course. Reed's only responsibility is to facilitate your payment for the course. It is your responsibility to review and agree to the Course Provider's terms and conditions and satisfy yourself as to the suitability of the course you intend to purchase. Reed will not have any responsibility for the content of the course and/or associated materials.

FAQs

Study method describes the format in which the course will be delivered. At Reed Courses, courses are delivered in a number of ways, including online courses, where the course content can be accessed online remotely, and classroom courses, where courses are delivered in person at a classroom venue.

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An endorsed course is a skills based course which has been checked over and approved by an independent awarding body. Endorsed courses are not regulated so do not result in a qualification - however, the student can usually purchase a certificate showing the awarding body's logo if they wish. Certain awarding bodies - such as Quality Licence Scheme and TQUK - have developed endorsement schemes as a way to help students select the best skills based courses for them.
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