PROGRAM SCHEDULE

Ref No: FI 107 Program Name: Advanced Budgeting and Operational Cost Control

Starts Ends Venue Fees Join Now
07 Oct 2024 11 Oct 2024 Dubai, UAE $ 4,750
13 Jan 2025 17 Jan 2025 Cape Town SA $ 5,750
12 May 2025 16 May 2025 Bali, IN $ 5,750
06 Oct 2025 10 Oct 2025 Dubai, UAE $ 4,750
15 Dec 2025 19 Dec 2025 London, UK $ 5,750

PROGRAM DETAILS



Introduction

 Organizations need to respond and adapt to changes in their operating environment. In this programme delegates will learn how to:

  • Define the relationship between strategic change, style of budget use, cost monitoring and performance.
  • Design mechanisms and processes used by their organizations to respond and adapt to changes in their operating environment.
  • Make a budget and capture the information needed to make intelligent operating decisions.

Learning Objectives

 Participants attending the programme will:

  • Understand how the budget relates to the key financial statements: balance sheet, income statement, and cash flows.
  • Learn how to prepare a budget consistent with the organization strategic plan
  • Know how to use appropriate estimation techniques in the development of revenue and expense budgets
  • Be able to identify all the appropriate costs to be included in a capital expenditure proposal
  • Learn how to analyze management cost reports and take corrective action

Target Audience

  • Accountants, accounting professionals, cost accountants
  • Cost and budget analysts
  • All staff with budget responsibilities
  • All staff with responsibilities to monitor costs

Training Methodology 

The program will be interactive and practical. “Classwork” and exercises will be mainly in groups. Hand-outs relevant to the subject matter will be distributed and discussed. 

Program Content

 DAY 1– Introduction to Budgeting         

  • Principles of Budgeting and Cost Control
  • Budgeting and management control systems
  • Types of Budgets
  • Understanding the context for budgeting
  • The Budget and its role for achieving organizational targets
  • What is it the situation in your organization? How to improve it?

 DAY 2 – Costing for Budgeting       

  • Costing for budgeting: key terms and concepts
  • Inventoriable vs. period costs
  • Manufacturing vs. non-manufacturing costs
  • Variable vs. Fixed costs
  • Direct vs. Indirect Costs
  • Cost allocation – Traditional costing and activity-based costing (ABC)

 DAY 3 – Costing for Budgeting (cont’d) 

  • From traditional budgeting to Activity-based budgeting (ABB)
  • Budgeting and Costing Techniques
  • Approaches to Budgeting
  • Define the master budget and explain its major benefits to an organization
  • Describe the difference between a static budget and a flexible budget
  • Compute flexible-budget variances and sales-volume variances
  • Compute the price and efficiency variances for direct-cost categories
  • Explain why standard costs are often used in variance analysis
  • Integrate continuous improvement into variance analysis

DAY 4 – Types of Budgets

  • Cost Control and Management Budget report
  • Project Budgeting
  • Capital Budgeting
  • Capital Expenditure Budgeting and Analysis
  • Discounted Cash Flow Models

Day 5 – The Scope of Budgeting

  • Interpreting budgetary information in light of Value Creation
  • What is the scope of budgeting? How far should it extend beyond cost budgeting?
  • The budgets and performance measurement as tools for communications
  • Budgets and issues of motivation
  • Integrating financial and non-financial issues

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