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CREM Nigeria

CREM is a service provider in the areas of Research, Enterprise, workforce management training delivery across Nigeria and West Africa. CREM is set to equip organization’s human resources with skills, competences and change creating capacities.

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CREM Nigeria
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EFFECTIVE BUDGETING AND OPERATIONAL COST CONTROL

  • May 15, 2018
  • CREM Nigeria
  • 0

Overview

Planning and budgeting are must-have skills for all professionals regardless of their function or managerial level. This course covers the concept of budgeting as a planning tool, a financial device and a control mechanism. In addition, it provides the necessary application of a long and short-term planning decisions.

This course focuses on exercises, case studies, and individual and group presentations.

 

KEY LEARNING OUTCOMES

At the end of the training participants should be able to:

  • Identify the importance of linking an organization’s budget with its strategic plan
  • Demonstrate how the budget relates to the key financial statements: balance sheet, income statement, and cash flow
  • Prepare the key elements of an operating and capital budget and evaluate the different budgeting approaches used
  • Apply cost control tools, analyze management variance reports and take proper corrective action
  • Calculate different capital budgeting evaluation techniques as included in a capital expenditure proposal
  • Utilize cost-volume-profit analysis in making budgeting decisions

 

COURSE CONTENT:

  • Planning and the functions of management
  • The key financial statements
  • Budgeting: process and approaches
  • Cost Control
  • Capital Expenditure Budgeting and Analysis
  • Cost-Volume-Profit analysis (CVP)

 

DURATION: 2 Days

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