EFFECTIVE BUDGETING AND OPERATIONAL COST CONTROL

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