Appraising Performance Against Budget - 16 October 2018

This interactive programme is delivered online live, allowing delegates to interact with expert presenters from either a computer or mobile device.  For an overview of the technology and live class experience, watch our short explanatory video to find out more.

How is it delivered?

Same content as a traditional course just spread over 2 days in shorter 3 hour sessions. No more travel no more losing a day out of the office. For those who prefer the traditional approach please visit our face to face class schedule

Session 1

Tue 16 Oct 2018 2:00pm – 5:00pm

Session 2

Thu 18 Oct 2018 2:00pm – 5:00pm

Please note that each session has 15 minutes of non teaching time included, this is to ensure we have time to help you get set up ahead of your learning  
* Before purchasing we advise that you check your system compatibility with this online test passing tests 1,2 & 3 means your good to go number 4 is not so important.

Delegates

This course will be of benefit to budget holders and analysts, at all levels, who need to develop an understanding of how to analyse their company’s or divisional performance against budget. Staff who are expected to improve company performance will be given direction during this course.

Course overview:

This course will be of benefit to budget holders and analysts, at all levels, who need to develop an understanding of how to analyse their company’s or divisional performance against budget. Staff who are expected to improve company performance will be given direction during this course.

Learning outcomes:

  • How financial variance analysis is used as a performance evaluation tool and can often be used as part of cost control
  • How the interpretation of variances is as important as the calculation themselves
  • The principle of controllability and its application within the performance management system
  • The relationship between variances in different parts of the business, and the ability to challenge this
  • Factors that should and should not be allowed to be used when revising the original budget
  • Behavioural problems resulting from using variance analysis including motivation and manipulation
  • The dangers of simply comparing budget to actual
    • How variance analysis is used within the business
    • Understanding how to ‘flex’ the budget’ to ensure fair comparison
  • Calculating variances
    • Understanding variance caused by drivers changed by volumes
    • Exploring variances caused by true cost savings or price rises
  • Interpretation
    • Getting behind the variances to understand what has potentially happened in the business
    • Investigating the variances to find out the story
    • Importance of variances seen and materiality
    • Understanding which accounts are interdependent
    • Spotting anomalies and seeing trends across the accounts
  • Controllability and challenge
    • Consideration as to who can control the variances
    • Using variance to appraise performance appropriately
    • Consider whether the original benchmark used for calculation was appropriate
    • Explore what factors should be taken into consideration when assessing the benchmark
  • Behavioural impacts
    • Explore what impact variance analysis has on employees working patterns
    • Consider what behavioural issues may occur when creating benchmarks
    • Explore the challenges of attempting to revise the budget

CPD:

6 hours

Duration of access:

You will have access to the programme for 6 months from the date of the first live session (this includes recordings, learning materials, certificate of completion and other programme information). 

"A CPD certificate of completion will be provided by BPP Professional Education Limited upon request, following attendance."

25 seats available.
Price: £599.00 (excludes VAT)
Quantity: