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In order to make better business decisions, decision makers need to understand the fundamentals of budgeting and costing. This training course has been devised to give business decision makers a good understanding on budgets, cost controls, variances and associated analysis that will lead to better decisions being made & better results being attained.
The Effective Budgeting & Cost Control training course will clarify budgeting terms; clearly explain the methodology used and cover both traditional & non-traditional budgeting methods through to newer methods and approaches. We will take the same approach with all elements of costing.
أهداف الدورة
جمهور الدورة
- All personnel involved in preparation of budgets
- Budget supervisors
- Operational managers
- Productions managers
- Financial managers
- Others who provide and enter information
- Anyone else who wants to understand budgets and costing within their business
منهجية الدورة
The practical and results-oriented Effective Budgeting & Cost Control training course is based on adult learning concept. It incorporates short inspiring lectures with captivating PowerPoint slides; videos to enhance learning; ongoing discussions with action planning; ample time for Q&A; training activities to reinforce key concepts within a fun learning environment.
مخطط الدورة
Day 1:
- Strategic Planning, Forecasting, Budgeting, and Costing – Defined
- Inter-relationship of Strategic Planning, Forecasting, and Budgets
- Benefits, Limitations, and Essential Features of Budgets
- Evaluation of Various Types of Budgets: Fixed, Variable, Zero-Based, Activity-Based, Capital Budget
- Essentials of Activity-Based Budgeting (ABB) and Developing ABB Cost Standards
Day 2:
- Developing the Activity-Based Budget and Master Budget using Excel
- Preparing Sales Budgets, Production Budgets, Cash Budgets, Capital Budgets
- Purpose and Methods of Forecasting: Qualitative and Quantitative Analysis
- Time Series Analysis, Exponential Smoothing, Correlation, and Regression
- Presenting Forecasts to Decision-Makers and Implementing into Budget Control
Day 3:
- Preparing Budgets Based on Forecasts: Sales, Production, Cash, and Capital Budgets
- Finance and Investment Decisions Using Excel: PV, FV, NPV, IRR, MIRR, Discounted Payback
- Introduction to What-If and Sensitivity Analysis
- Conditions and Management Skills Required for Successful Budget Implementation
Day 4:
- Break-Even Analysis, Cost Behavior, and Sensitivity Analysis
- Identifying Fixed, Variable, and Semi-Variable Costs
- Determining Sales/Profit to Break Even and Critical Costs
- Resource Requirements and What-If Analysis Using Excel
- Scenario Planning: Best Case/Worst Case, Probabilistic (Monte Carlo) and Deterministic Simulation
Day 5:
- Variance Analysis, Reporting, and Control
- Accounting Systems, Accountability, and Responsibility Systems
- Establishing and Implementing a Costing System
- Presenting Variance Reports to Decision-Makers
- Making Strategic Decisions Based on Variance Analysis and Business Planning