Budgeting and Cost Control

Finance and Budgeting

Course Info

Duration: 1 Week

Fees: 1,300

Available Dates

Fees

  • May-17-2021

    1,300

  • June-21-2021

    1,300

  • July-19-2021

    1,300

  • Aug-16-2021

    1,300

  • Sep-20-2021

    1,300

  • Oct-18-2021

    1,300

  • Nov-22-2021

    1,300

  • Dec-20-2021

    1,300

  • Jan-17-2022

    1,300

  • Feb-21-2022

    1,300

  • Mar-21-2022

    1,300

  • Apr-18-2022

    1,300

Course Details

Course Outline

5 days course

 

The need for Financial Control in business

 

  • Understanding accounting
  • Management accounting versus financial accounting
  • The relationship between business management and financial management
  • How budgeting fits into the bigger picture
  • How cost management  improves an organisation’s financial position
  • Key aspects of managing working capital

 

Capital Budgeting and Investment Appraisal

 

  • The time value of money
  • Understanding Appraisal Techniques – Net Present Value (NPV), Internal Rate of Return (IRR) and Payback period
  • Selecting an appraisal technique
  • The use of Sensitivity analysis in evaluating projects
  • Strategic  considerations in assessing capital projects
  • Creating an effective Capital Budgeting framework

 

Cost Analysis and Management

 

  • Understanding cost structure and behaviour
  • Costs as a relationship to outputs – cost/volume/price relationship
  • The concept of contribution margin
  • Break-even analysis for planning and control
  • Cost allocation and apportionment
  • Benefit-cost analysis

 

Full Costing, Marginal Costing and Activity Based Costing

 

  • Comparing full and marginal costing
  • Direct and indirect costs in budgeting for decision making
  • Role of costs in pricing strategies
  • Activity Based Costing (ABC)
  • Managing cost control

 

Budget Construction and Control

 

  • Nature and purpose of budgets for planning and control
  • Types of budgets and budgeting
  • Creating Key Performance Indicators for financial and non financial performance
  • Building a budget
  • Budgetary control and variance analysis
  • Budgeting for non-financial measures -introducing the Balanced Scorecard