Seminar for management teams “How to build an effective budgeting system in companies”

Lviv Business School invites You to attend  the seminar for management teams “How to build an effective budgeting system in companies” on 11th and 12th of October by Mykhailo Kolisnyk, managing partner of  «Finart Smart Solutions», trainer at financial and investment management, management and financial accounting courses.


Seminar participants will immerse themselves in the financial budgeting environment for two days and will handle their company’s live data. Financial material is easy and comprehensible for understanding even for people who are not financial experts.

Register for the course

For WHOM. Participation in the seminar is recommended for management teams. It is aimed at chiefs and top managers of the companies, heads of budget responsibility centers, which are just starting their establishment and/or development of their company’s budget system and are planning to work according to classic budget model in environments with outer restriction in the form of market share.

AIM. The main aim of the seminar is to give the participants a stimulus to improve the budget system at their company. They will have an opportunity to see and understand the coherent picture of building the budget system in their own company, to form unique approaches and assumptions, to understand the specific character of budget model according to the peculiarities of their own business model. It is easier to work independently in your one’s own company after the basic forecasts, which are included in the budget, are considered and created.

EXPERIENCE you are gaining during the course:

  • Construction of company’s conceptual model of budget system, defining preparation procedure of budget process and   budget responsibility centers ;
  •  Forecasting limiting factors , which pertain to primary budgeting;
  • Budgeting the expenses for marketing and advertisement, which depends on the sales budget; calculation of additional products, which should be included in the sales budget provided that additional resources for marketing and advertisement will be allocated;
  • Preparation of the sales budget and calculation of income budget, current budgets in the course of operational activity, budget responsibility centers (marketing, financial departments, etc); 
  • Defining budgeting information field, process control of defining norms and standards , which are included in the budget.

QUESTIONS that will be discussed during the seminar:

1. Principles of conceptual budget model creation.
2. Models of company’s budgets and its procedure.
3. Typical mistakes in budget process.
4. Forecasting methods of sales and taking them into account in the budget.
5. Process of sales and cash budget.
6. Budget of end products stock reserves; purchasing and raw materials budget, model of their preparation.
7. Budget of expenses on marketing activity and its interdependence on sales budget, the scheme, when the expenses on marketing are defined on the basis of sales budget and the scheme, when the sales budget represents incremental sales, which are connected with cover the exoenses on advertisement.
8. Production and use of materials budget.
9. Budgets of financial responsibility centers (service departments), expenses on marketing and advertisement, expenses on HR.
10. Budgeting information field: practice of norms and standards of establishment.
11. Transition from budget process to its usage.
12. Regulations on company's budgeting.

In order to take part in the course, please, fill in the form

Place: Lviv Business School at UCU, Kozelnytska Street 2a, room 305.
Time: 11th and 12th of October, from 10 am till 6 pm.

Price: 19500 hryvnyas per management team (5 people).

For all the details, especially as for the formation of management teams, please, contact: Natalie Lypa: , +38 067 675 66 08