Effective Budgeting & Cost Control
Join On Event :
| Event | Start | End | Instructor | Location | Registration |
|---|---|---|---|---|---|
| Effective Budgeting & Cost Control | 06-Apr | 10-Apr | instructor |
Details :
This program
offers an opportunity to acquire and then deploy new skills and ideas to
achieve improved financial operations and strategies. The knowledge acquired
will enhance the budget process and control processes through a variety of
strategies and techniques that will provide new insights to how financial
performance can be enhanced. In this programme you will participate in
many aspects of modern thinking. It describes budgets and models as a key
element of management and financial strategy. Participants will learn the
analysis of opportunities, risks and rewards in the context of Capital
Projects. They will also learn about controlling costs by analysis, modelling,
KPI’s and review of the cost drivers
- Acquiring
costing and budgeting terminology and techniques
- Understanding
the importance of a well-defined budget process and create budgets
relevant to your organisation
- Examining
role of finance in budgeting and cost control
- Mastering
methods for risk, payback and cost-benefit analysis
- Understanding
the effective capital management after completing cost and budgeting
processes
- Financial
Professionals
- Sales/Marketing
Professionals
- General
Accounting Professionals
- Business
Unit Professionals
- Anyone who
wants to refine and advance their budgeting and costing knowledge
Day 1
- Cost,
Expense and Budget Relationship
- Role of
Cost Management and Budgeting for Managerial Decisions
- Cost
Terminology, types and components of costs
- Types of
Budgets
Day 2
- Cost Drivers
- Cost
allocation and apportionment
- Standard
Costing Calculation
- Activity-Based
Costing Calculation
- Cost and
Quality
Day 3
- Building a
Master Budget
- Flexible
Budgets
- Budgetary
Control and Variance Analysis
- Role of
Finance in cost control: Key Performance Indicators
- Balanced
Scorecards: Strategic-Based Control
Day 4
- Cost
Behaviour Analysis
- Role of
Cost in Pricing, full and marginal costing pricing
- Break-Even
and Target Income
- Sensitivity
Analysis
- Inventory
Management
Day 5
- Time Value
of Money
- Cost of
Capital and Hurdle Rate for capital projects
- Valuation
Technics (Net Present Value, Internal Rate of Return, Payback Period)
- Probability
Models to Evaluate Projects (Monte Carlo Simulation, Stress Tests and
Value at Risk Models)
- All lectures are in colorful presentation
- All lectures are interspersed with interactive discussion
- All lectures include group discussion, case history and exercises
- Actual major incidents as well as industry experience are reviewed
- Participants receive a multicolor course manual
- Pictures of real incidents and case history are shown
- Videos on the subject are shown
Daily from 09:00 – 14:30 including coffee breaks