FINANCIAL PLANNING AND BUDGETING IN BUSINESSES

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Learning Outcomes

To be able to define planning and budgeting, To be able to explain the importance of planning and budgeting for businesses and the benefits it provides, To have knowledge about the relationship between planning and budgeting, To be able to explain the principles and limits of budgeting in businesses
To be able to define the types of planning and budgeting in businesses, To be able to explain the places in the organization, duties and authorities with the planning and budgeting officers, To have knowledge about the planning and budgeting processes in businesses
To be able to define planning and strategic management, To be able to explain the concepts and processes of short, medium and long term planning, To have knowledge about planning and budgeting components in businesses
To be able to set targets according to SMART criteria in enterprises, to evaluate environmental analysis, to explain the concepts of Swot analysis, Pestel analysis and Competition analysis
To be able to define and explain quantitative and qualitative planning techniques, To be able to analyze economic analysis and economic trends, To have knowledge about scenario analysis,
To be able to define income sources and forecasting methods in budgeting, To be able to use historical data for budget purposes in businesses, To be able to explain activity-based budgeting in planning and budgeting processes in businesses
To be able to recognize the budget creation process and the difficulties in the process, To be able to understand budget revisions and updates, To be able to analyze budget performance, To have information about the evaluation of budget deviations, To be able to prepare budget reports
To be able to define the budget creation process and its difficulties in the process, To be able to explain budget revisions and updates, To be able to analyze budget performance and evaluate deviations, To be able to prepare budget reports
To be able to define the concept of risk in budgeting and planning, To have knowledge about the effect of risk management plans on the budget, To be able to explain budget management in times of crisis and the effect of crises on the budget
To be able to define the effect of digital transformation on budget management, To have knowledge about budgeting software and tools, To be able to explain data analytics and budget management