* All fees are exclusive of vat ** PREMIUM - Customize your learning experience
All business decision-making involves analyzing situations containing varying degrees of risk. This course uncovers the essential skills required to understand the processes of budgeting and cost control for better decision-making. From understanding the importance of a well-defined budget process through to the importance of how costs behave so that realistic cost-cutting and budgeting plans can be produced.
What Do Participants Learn?
Understand the importance of a well-defined budget process
Learn costing and budgeting terminology used in business
Master techniques for cost-benefit analysis
Learn how to construct profit, cash, and balance sheet plans and budgets
Learn how to evaluate variances from plan and identify corrective actions
Understand discounted cash flow (DCF) techniques and their application to financial decision making
Build and use budgets relevant to your organization
Who Should Attend?
Financial officers and planners
Anyone interested and wanted to develop his performance in finance
What Will the Learning Experience Include?
Comprehensive pre-program activities include:
Web-based information forms & surveys completed by attendee.
Direct consultation with the attendee about the expectations.
During the training, participants engage in data, activities, and conversations that lead to insight and knowledge.
Participants learn from expert trainers who have both academic and business experiences.
Highly applicable training content & instructive activities for adding depth to training topics.
**A half-day site visit for integrating the experience & plan next steps. Opportunities to provide connections, ideas & support.
Explore & Practice
Apply & sustain the learning experience by using this ongoing support:
To ensure participant has new skills or behavior progress.
Optional, fee-based mentoring & coaching with the trainer.
Training materials & additional documents (e-books, pdf files, presentations and articles)
Evaluate your training experience by giving us feedbacks and help us to reach our organizational goals.
The need for Financial Control in business
Management accounting versus financial accounting
The relationship between business management and financial management
How budgeting fits into the bigger picture
How cost management improves an organization’s financial position
Key aspects of managing working capital
Capital Budgeting and Investment Appraisal
The time value of money
Understanding Appraisal Techniques – Net Present Value (NPV), Internal Rate of Return (IRR) and Payback period
Selecting an appraisal technique
The use of Sensitivity analysis in evaluating projects
Strategic considerations in assessing capital projects
Creating an effective Capital Budgeting framework
Cost Analysis and Management
Understanding cost structure and behavior
Costs as a relationship to outputs – cost/volume/price relationship
The concept of contribution margin
Break-even analysis for planning and control
Cost allocation and apportionment
Full Costing, Marginal Costing, and Activity Based Costing
Comparing full and marginal costing
Direct and indirect costs in budgeting for decision making
Role of costs in pricing strategies
Activity Based Costing (ABC)
Managing cost control
Budget Construction and Control
Nature and purpose of budgets for planning and control
Types of budgets and budgeting
Creating Key Performance Indicators for financial and non-financial performance
Building a budget
Budgetary control and variance analysis
Budgeting for non-financial measures -introducing the Balanced Scorecard