This highly interactive half-day master class will equip you with the foundational tools, concepts, and language for you to demonstrate your ability to effectively manage your budget and make sound financial decisions. Building this fundamental understanding of sound accounting and budgeting practices will teach you how to estimate and track financial resources, gain approval for project funding, and create alignment between training investments and business goals.

WHAT YOU’LL LEARN

Strong financial and budgeting skills are a necessity to be an effective business leader of the training organization. Training managers are tasked with managing the financial resources of a training organization, ensuring they are allocated wisely to minimize costs and maximize value.

After completion of this course, you’ll be able to:

  • Build and analyze a training budget
    • Understand the three most common financial statements
    • Develop sound conclusions from analyzing basic financial statements
    • Understand the difference between cash and accrual accounting – be able to identify which one your organization uses
    • Align your training budget with your L&D plan
  • Manage costs and budgets effectively
    • Classify and manage internal versus external costs and fixed versus variable costs
    • Understand the calculation of program costs, including employee time, travel, overhead, instructor and other expenses
  • Secure funding for necessary projects and additional resources
    • Build a business case for your project
    • Plan resource and workload
    • Conduct ROI and break-even analysis
COURSE OVERVIEW

During the class, you’ll complete the following lessons, which also include practical application activities:

Lesson 1 – Welcome, Introductions and Expectations
Lesson 2 – Building a Training Budget
Lesson 3 – Manage Costs and Budgets Effectively
Lesson 4 – Funding Projects and Projects and Additional Resources
Lesson 5 – Action Planning and Wrap Up

WANT MORE DETAILS?

View the course agenda for more detail about what you will learn in this course, or contact us to speak to someone directly.