Effective Budgeting and Cost Control

Place- الموعد Date - المكان
2017-03-12 00:00:00 Turkey
2017-08-13 00:00:00 Dubai
2017-12-10 00:00:00 Sharm el-Sheikh

  Who can benefit?

§ All managers, supervisors and analysts who prepare and/or use management budgets..

Course Objectives:

§ See how the budget relates to the key financial statements: balance sheet, income statement, and cash flows.

§ Prepare a budget consistent with the organization's strategic plan.

§ Use appropriate estimation techniques in the development of revenue and expense budgets.

§ Identify all the appropriate costs to be included in a capital expenditure proposal.

§ Analyze management cost reports and take corrective action.

 Course outline

§ Principles of Budgeting and Cost Control

§ The Critical Functions of Management

§ Is Control the Missing Link?

§ Linking the Tactical Budget to Strategic Objectives

§ The Strategic Planning Process and the Budget as a Plan

§ Aligning the Budget with the Organization's Strategy

§ Types of Budgets

§ Master Budget, Operating and Capital Budgets

§ Financial Budgets

§ Approaches to Budgeting

§ Incremental Budgeting

§ Zero-Based Budgeting

§ Fixed Budgeting and Flexible Budgeting

§ Kaizen Budgeting

§ Budgeting and Costing Techniques

§ Forecasting Methods

§ Break-Even Analysis

§ Use of Standards

§ Trend Analysis and Cost Estimation

§ Characteristics of an Effective Budget

§ Project Budgeting

§ Project Planning

§ Direct and Indirect Project Costs

§  Capital Expenditure Budgeting and Analysis

§ Time Value of Money

§ Pay-Back Period (PBP)

§ Net Present Value (NPV)

§ Internal Rate of Return (IRR)

§ Profitability Index (PI)

§ Accounting Rate of Return (ARR)

§ Approval for Expenditure (AFE)

§ Sensitivity and Risk Analysis

§  Cost Control and Management Budget Reports

§ Budget as a Control Tool

§ Approaches to Cost Control

§ Understanding the Need for Timeliness and Precision

§ Variance Analysis

§ Problems in Budgeting

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