Budgeting Fundamentals and Key Drivers
Want to enhance your financial skills in the budget development and management process?
Understanding budget methodology is crucial to developing a realistic and achievable budget. Our BUDG101 program helps you to develop the skills needed to analyse and develop budgets in a meaningful way that will provide greater benefit to your organisation than just adding CPI onto your last budget.
The program also explores the key drivers of the aged care business model to assist with the budget development process.
Understanding the budget process
Setting and understanding key performance indicators
Understanding the key financial management reports of an aged care business
Overview of financial related terminology
Identifying cost drivers and understanding how to manage them
Preparing scenario based individual resident costing and the key decisions in admitting a resident and the associated financial impact
Understanding the building blocks in developing a budget from the bottom up
Analysing performance and using variance analysis to identify opportunities for improvement
Understanding the lead indicators for deterioration in financial performance
Actions that should be taken to ensure consistent performance
How to motivate staff to take ownership of managing expenses and minimising wastage
How to manage and identify challenges that will influence the budgeted performance
How to engage managers in owning their budget
This program has been developed to enhance the skills of Facility and Care Managers, Admissions and Placement Officers, Finance and Administration Staff, Area Managers and Regional Managers.
This program will also provide a valuable insight into the aged care revenue streams for Board Members, Executive Team members, Internal and External Auditors and Financial Planners.
$249 + GST per participant
$299 + GST per participant
Tuesday, 23 November 1pm – 4pm
"It improved my understanding of the budget process and KPI management. I am now better able to ensure we develop a sustainable future." - Julie, Bruce ACT
Want to enhance your budgeting skills?
Book an in-house session?
Want your whole team to attend this seminar? Contact us to enquire about an in-house training session.
We come to you to deliver the training, we can even personalise the content to be specific to your oganisation.