Budget Preparation, Allocation and Cost Control

Course Info

Length: 1 Week

Type: Online

Available Dates

Fees

  • Apr-29-2024

    1,535

  • May-06-2024

    1,535

  • June-03-2024

    1,535

  • July-29-2024

    1,535

  • Aug-05-2024

    1,535

  • Sep-30-2024

    1,535

  • Oct-07-2024

    1,535

  • Nov-04-2024

    1,535

  • Dec-30-2024

    1,535

Course Details

Course Outline

5 days course

Budgeting & Cost Control in the Management System: Link with Strategic Planning
 
  • Budgeting and the Management System of Contemporary Organizations
  • Strategic Planning, Budgeting and Management Control
  • Strategic Management Accounting – Setting Goal and Objectives
  • From Strategic to Operating Plans – Actions and Initiatives
  • Measuring and Managing the Performance – KPIs and targets
  • Managerial Accountability  
Budgeting: Principles and Key Concepts
 
  • Understanding the Context for Budgeting
  • The Benefit of Budgeting and its Role for Achieving Organizational Targets
  • The Shortcomings of the Budgeting Process - How to improve them?
  • Principles of Budgeting
  • Main Issues with Budget Preparation
  • Capex (Capital Expenditures) vs. Opex (Operational Expenditures)
Cost Analysis for Budgetary Purposes
 
  • Cost Concepts and Terminology
  • Different Costs for Different Purposes
  • Fixed vs. Variable Costs: The Cost-Volume-Profit Analysis Model
  • Contribution Margin Analysis
  • Manufacturing vs. Non-manufacturing Costs
  • Period vs. Product Costs
Traditional vs. Advanced Techniques in Cost-Control
 
  • Under-costing and Over-costing: Understand Allocation Methods
  • How to refine a Costing System?
  • Indirect (OH) vs. Direct Costs
  • Traditional Cost Allocations Systems vs. Activity-Based Costing (ABC)
  • Cost Hierarchy & Cost Drivers - Linking Resources, Activities and Management
  • Introducing Activity-Based Budgeting (ABB) and Management (ABM)
New Integrated Performance Measurement Systems
 
  • Beyond Budgeting: Integrating Financial and Pre-financial Information
  • The Drivers of Value Creation
  • The Balanced Scorecard
  • Strategy Maps
  • Integrated Reporting

Course Video