Budgeting and Financial Reporting

Budgeting is an essential financial process for any business no matter how large or small. The benefits of investing time in budgeting and reporting include;

• The practice’s financial position is transparent
• Provides a foundation for decision making and delegation
• Cash flow and distributions are managed
• The ability to analyze the impact of decisions
• Increased financial accountability
• Increases the financial literacy of the Principals

This practical workshop provides a clear instruction for the development of budgets and financial reporting systems. This is not an accounting workshop, but rather targeted for practice managers without accounting qualifications.

The Workshop covers the following topics:

• Understanding the importance of cash flow & financial monitoring systems
• Overview of budgets and how they work
• Constructing a budget
• Annual reporting cycle
• Key Performance Indicators
• Decision making & delegation
• Distribution management
• Budgeting traps

Participation in this workshop will help practice managers to demonstrate more control over the financial position of the practice.