Effective Budgeting and Cost Control

Why Attend

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 tools required to making long-term and short-term planning decisions.

Overview

Course Outline

Schedule & Fees

Course Methodology

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

Course Objectives

By the end of the course, participants will be able to:

Defend 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

Target Audience

All managers, supervisors and analysts who prepare or use management budgets.

Target Competencies

Interpreting financial statements
Planning and budgeting
Cost control
Capital budgeting
Applying cost-volume-profit analysis
Utilizing breakeven analysis