Every manager needs a deep and intuitive understanding of both budgeting and forecasting. But most non-financial managers find these disciplines challenging at best -- and, all too often, simply mystifying. In FT Essential Guide to Budgets and Forecasts , top financial trainer Nigel Wyatt explains everything non-financial managers must know and do, simply and clearly, with practical and up-to-date examples. This task-focused, results-oriented book is organized around the questions that every manager needs to ask and answer, and is packed with integrated checklists, goals and milestones to keep readers on track. Writing in a friendly, one-on-one 'coaching' style, Wyatt helps readers:
* Master basic 'background' concepts such as cost, value, P+L, accruals, cash flow, value engineering, and ABC.
* Determine what their budgets need to accomplish, and use those requirements to build realistic budgets from the ground up.
* Budget and control cash.
* Choose and plan for capital expenditures.
* Live within the budgets they create, while delivering maximum value and performance.
* Make sense of standard costing and variances.
* Manage risks, use balanced scorecards, and implement KPIs.
* Delegate budgeting without losing control.
* Evaluate their budgeting and forecasting performance, and learn lessons for improvement
