Financial goals include having an operating budget with a target for income and a target for expenditure, which by default provide a target for profit. Actions must be taken to achieve the income target and to stay within the expenditure levels set by the budget. Ongoing monitoring of the budget and measurement of actual performance against it are critical and deviations are known as favourable (better than) or unfavourable (worse than) variances. A business owner must have a realistic budget to work towards and have a comfortable understanding of all of its underlying components in order to maximise profit.

This webinar is aimed at small businesses throughout Illawarra, South East & Tablelands and Riverina Murray who have just started or have an established business and we have the capacity to host up to 50 people.

PRESENTER: Court Sayer-Roberts.

MODERATOR: Darryl Tonks.

LEARNING OBJECTIVES:

1. The cyclical nature of business and need for realistic income and expenditure forecasts for each prospective cycle against which to measure actual performance.

2. The drivers underpinning revenues – seasonality, competition, volumes and prices, margins. The nature of expenses – fixed v variable; discretionary v non-discretionary.

3. Practical tools and helpful hints for preparing budgets and the importance of reviewing past performance to manage future expectations.

LEARNING OUTCOMES:

1. An appreciation of the need to have considered operating budgets against which to measure actual performance.

2. Confidence to prepare realistic operating budgets and to converse with other stakeholders in their preparation process and performance review.

3. An ability to regularly review and interpret budget variances and to make sound strategic business adjustments as required.

This Webinar will take place on Zoom. Click BOOK EVENT to register. You will receive the Zoom link in an email once registered and a text message containing the one-time passcode on the day of the webinar.

Enterprise Plus is an approved independent provider for Service NSW Business Connect until June 2025. We are a not-for-profit organisation that has delivered Australian, NSW, and ACT Government business advisory and education programs, workshops, and webinars, across regional NSW and the ACT for more than 30 years.