There are many types of cost you might have to consider in budgeting and managing your team’s financial performance. This document gives you a quick overview and examples of fixed and variable costs and also sunk and opportunity costs.
Your more senior colleagues may have to approve your budget and, on reviewing it, may not agree with what you have drawn up. These top tips will help you justify your figures and negotiate your budget with your colleagues.
Do you want to consolidate what you have learned about revenue and capital cost? Would you like to work through a practical scenario to prove to yourself the differences between the two costs? Use this simple exercise to help apply your learning. It will take you around 15 minutes to complete.
These top tips will help you to present financial information in a clear and confident fashion.
This document will help you fill in the numbers in your budget. It compares and contrasts two different approaches to budgeting: incremental budgeting and zero base budgeting. It will help you decide whether you should use historic data as the basis for your budget or if you should start afresh.
An introduction to the subject of behavioural economics including key principles, plus some of the leading thinkers in this field.
This article gives you an overview of the three main reports that are used to outline the finances of an organization: the profit and loss account, balance sheet and cash flow forecast. It explains the information they contain and what they are used for.
The production capacity of all organizations is limited by its resources. In making decisions about the production of goods and services, you may have to decide between making, buying, subcontracting, or outsourcing.
You are unlikely to be able to create a budget ‘off the top of your head’ and will need to do some research to come up with the numbers. This advice will help you gather all the information you need.
Cost Benefit Analysis gives you a simple, quantitative approach for deciding whether to go ahead with a decision.
Learn the basics of balancing budgets – and why they're essential to personal and organizational success.
Improve your financial decision-making by using NPVs and IRRs to compare investment options and decide whether or not to go ahead with projects.
