Budgeting as a Tool for Decision Making

Place- الموعد Date - المكان
2016-04-10 00:00:00 Cairo
2017-08-13 00:00:00 Turkey
2017-11-12 00:00:00 Dubai
Course Objectives

§ Describe the Planning and Budgeting Cycle

§ Describe the Major Elements of the Annual Business Plan

§ Describe and Perform the Basic Steps in Preparing a Comprehensive Budget

§ Prepare a Capital Budget

§ Determine and Investigate Budget Variances

§ Understand New Trends in Budgeting

Course Outline:

§ Types of budget systems

§ Annual business plans (master budgets)

§ Master Budget and Responsibility Accounting

§ Types of Budgets

§ Comprehensive Budgeting

§ Responsibility Accounting

§ Responsibility and Accountability

§ Annual profit plan and the supporting schedules

§ Sales budget

§ Production / inventory budget

§ Direct materials budget

§ Direct labor budget

§ Pro forma statement of employee benefit costs

§ Overhead budget

§ Cost of goods sold budget

§ Selling and administrative budget

§ Budget for acquisition of capital assets

§ Cash budget and cash management plans

§ Pro forma income statement

§ Pro forma statement of financial position

§ Pro forma statement of cash flows

§ Measuring Actual Performance against the Budgeted Performance

        • Static Budgets and Flexible Budgets
        • Flexible Budgets without Standard Cost
        • Flexible Budgets with Standard Cost
        • Overview of Variance analysis (DM, DL, and OH)
        • Variances Investigation
        • Benchmarking
        • Human Aspects of Budgeting

§ New Trends in Budgeting

§ Activity based budgeting

§ Zero-based budgeting

§ Continuous (rolling) budgets

§ Kaizen budgeting

Who Can Benefit?

§ financial decision makers, working with accountants and are involved in formulating

§ planning and implementing business strategy