Effective Budgeting and Cost Page 1 of 9
Why Attend ning 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. 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 ning and budgeting Cost control Capital budgeting Applying cost-volume-profit analysis Utilizing breakeven analysis Course Outline ning and the functions of management The critical functions of management Aligning the budget with the strategy of the organization Road map to strategy Budget as a planning tool : the missing link ning pitfalls The key financial statements The accounting system The income statement The balance sheet The cash flow statement Budgeting: process and approaches The advantages of budgeting The budget process Rolling budgets The master budget Operating and capital budgets The budgeted financial statements Page 2 of 9
Approaches to budgeting: Incremental budgeting Zero based budgeting Flexible budgeting Kaizen budgeting and continuous improvement Activity based budgeting Tools of forecasting Direct and indirect costs Characteristics of an effective budget Problems in budgeting Cost control Budget as a control tool The control process Characteristics of an effective control system Responsibility reporting Variance analysis: identifying the components of variance Variance analysis: taking the corrective action Capital expenditure budgeting and analysis Time value of money Simple versus compound interest Identifying and analyzing cash flows The discount rate: using cost of capital Net Present Value (NPV) Internal Rate of Return (IRR) Profitability Index (PI) Pay-Back Period (PBP) Accounting Rate of Return (ARR) Approval for Expenditure (AFE) Sensitivity and risk analysis Cost-Volume-Profit analysis (CVP) Identifying the fixed costs and variable costs Computing breakeven point in units Computing breakeven point in sales Assumptions of CVP analysis Using CVP in budgeting decisions Page 3 of 9
Associations National Association of State Boards of Accountancy (NASBA) : Meirc Training & Consulting is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website www.learningmarket.org Location & Date 7-11 Oct, 2018 Sofitel Downtown 16-20 Dec, 2018 Raffles 10-14 Feb, 2019 31 Mar - 4 Apr, 2019 16-20 Jun, 2019 6-10 Oct, 2019 15-19 Dec, 2019 : US$ (including coffee breaks and a buffet lunch daily) Per participant - 2018 Per participant - 2019 + VAT as applicable Tax Registration Number 100239834300003 This course is worth 25 NASBA CPEs Page 4 of 9
ning and Strategy Management 16-20 Sep, 2018 US$ 4900 16-19 Sep, 2018 Certified Crisis Management Professional US$ 4500 23-27 Sep, 2018 23-27 Sep, 2018 25-27 Sep, 2018 ning, Organizing and for Optimal Results Beirut US$ 3500 7-11 Oct, 2018 The Certified Business Analyst Professional US$ 4900 14-18 Oct, 2018 21-25 Oct, 2018 Strategy Management in the Public Sector 28 Oct - 1 Nov, 2018 28 Oct - 1 Nov, 2018 11-15 Nov, 2018 Certificate in Key Performance Indicators (KPIs) US$ 4900 11-15 Nov, 2018 The Effective Analyst: From Research to 18-20 Nov, 2018 Business Continuity Management US$ 3500 18-22 Nov, 2018 US$ 4900 18-22 Nov, 2018 25-29 Nov, 2018 The Balanced Scorecard: Achieving Performance Excellence 2-6 Dec, 2018 9-13 Dec, 2018 Shaping the Future: Tools for Developing Strategic Foresight 9-13 Dec, 2018 16-20 Dec, 2018 23-27 Dec, 2018 30 Dec - 3 Jan, 2019 13-17 Jan, 2019 Page 5 of 9
ning and Strategy Management 3-7 Feb, 2019 3-7 Feb, 2019 10-14 Feb, 2019 17-21 Feb, 2019 24-28 Feb, 2019 Certificate in Key Performance Indicators (KPIs) 3-5 Mar, 2019 Business Continuity Management US$ 3600 3-7 Mar, 2019 10-14 Mar, 2019 The Balanced Scorecard: Achieving Performance Excellence 17-21 Mar, 2019 Developing Effective Public-Private Partnerships (PPPs) 24-28 Mar, 2019 31 Mar - 4 Apr, 2019 Shaping the Future: Tools for Developing Strategic Foresight 7-11 Apr, 2019 14-18 Apr, 2019 14-17 Apr, 2019 Certified Crisis Management Professional US$ 4700 28 Apr - 2 May, 2019 16-20 Jun, 2019 23-27 Jun, 2019 Certificate in Key Performance Indicators (KPIs) 30 Jun - 4 Jul, 2019 The Certified Business Analyst Professional 7-11 Jul, 2019 7-11 Jul, 2019 Strategic Decision Making in Competitive Environments 14-18 Jul, 2019 Building and Presenting a Powerful Business Case 4-8 Aug, 2019 25-29 Aug, 2019 Barcelona Page 6 of 9
ning and Strategy Management 8-12 Sep, 2019 Istanbul 22-26 Sep, 2019 29 Sep - 3 Oct, 2019 Abu Dhabi 6-10 Oct, 2019 Competitive Strategies and Value Innovation 6-10 Oct, 2019 Cairo 13-17 Oct, 2019 The Balanced Scorecard: Achieving Performance Excellence 13-15 Oct, 2019 Business Continuity Management US$ 3600 20-24 Oct, 2019 The Effective Analyst: From Research to 20-24 Oct, 2019 27-31 Oct, 2019 Strategy Management in the Public Sector 3-7 Nov, 2019 3-7 Nov, 2019 10-14 Nov, 2019 17-21 Nov, 2019 Certificate in Key Performance Indicators (KPIs) 17-21 Nov, 2019 Developing Effective Public-Private Partnerships (PPPs) 24-28 Nov, 2019 1-5 Dec, 2019 The Certified Business Analyst Professional 2-4 Dec, 2019 Business Intelligence and Data Analysis Workshop Beirut US$ 3600 8-12 Dec, 2019 Shaping the Future: Tools for Developing Strategic Foresight 15-18 Dec, 2019 Certified Crisis Management Professional US$ 4700 15-19 Dec, 2019 22-26 Dec, 2019 22-26 Dec, 2019 Page 7 of 9
ning and Strategy Management 22-26 Dec, 2019 29-31 Dec, 2019 Conducting Successful Business Reviews US$ 3600 Page 8 of 9
ning and Strategy Management Page 9 of 9