“Financial planning can be made more accurate by ensuring department heads understand budgeting” commenced a recent article in Financial Director. However, the report continues “because they (department heads) are not trained in finance, their budgets are often incomplete.”
Unless department heads receive training in finance and the requirements of the business, how can they possibly know if their budgets are too bullish or prudent or if they only consider direct costs rather than relevant overheads? How can they truly understand the impact their budgets and forecasts have on investors and lenders as well as on the business itself?
The article concludes that “a significant part of the FD’s role is to communicate with senior management and to ensure they give focused input.” I heartily agree. However, I also fully appreciate the significant time constraints on both FDs and department heads and therefore the difficulties involved in making this time available, despite its tremendous importance.
Fortunately, we have a solution for you at Ripley Training! As a fully qualified accountant and finance director myself, I train non-finance managers, directors and business owners all around the UK to understand the practical and commercial elements of budgeting that will help take your business forward. All this is achieved in one fully interactive and engaging day that will have your staff buzzing and keen to put their new found skills into immediate action!
Call us on 01423 861122 or email us at info@ripleytraining.co.uk for further information. Details can be found on our website – simply click and book! Don’t see a date or location you like – please ASK!
I look forward to welcoming you and/or your team very soon.
Author: Mike Smith
