Pioneers in Global Leadership and Quality Management 

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also available for 10 day training courses and 2 to 3 days In-House 

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Also available for 2 to 3 day durations as well as 10 to 30-day training durations In-House and Live online


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DATES AND VENUES

Strategic Planning, Effective Budgeting & Cost Control

Get ahead in the planning, control, and budgeting cycle


Today, the human mind is often absorbed in so much data, that it has difficulty processing the multitude of facts and relationships simultaneously and sometimes forgets important elements. Thus, as plans become more and more intricate, they should be documented in writing and include qualitative narratives of goals, objectives, and means of accomplishing the objectives.

This budgeting and cost control course will allow the participant to explore and share with other participants new thoughts in the planning, control, and budgeting cycle, resulting in a renewed energy in returning to the workplace and implementing a more focused budgeting process, which communicates useful and timely information to management.

The course will provide a framework for each topic covered, and then will make extensive use of exercises and case studies.


 
Key Highlights

  • Introduction to planning and control
  • Budgeting overview
  • Behavioural aspects of budgeting
  • Understanding cost behaviour
  • Flexible budgets and standard cost systems
  • Developing an annual/master budget
  • Conceptual aspects of budgeting
  • Resource allocation
  • Activity-based management and activity-based costing
  • Controlling Costs: Economy, Efficiency & Effectiveness
  • Delivering operational excellence


Training Objectives

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

  • Acquire best practices in budgeting
  • Understand the strategic role of cost concepts
  • Explain the costs concepts to the use of cost information for management control
  • Describe the role of budgets in the management process
  • Discuss the importance of strategy and its role in the master budget
  • Prepare a master budget and explain the interrelationships among its supporting schedule
  • Understand zero-base, activitybased, and kaizen approaches to budgeting
  • Explain the essence of control systems
  • Develop flexible budgets for evaluating short-term financial performance
  • Identify different cost control measures
  • Measure and evaluate performance
  • Leverage emerging technologies for delivering operational excellence


Who Should Attend

This training course is suitable to a wide range of professionals but will greatly benefit

  • Business Development Executives
    Business Intelligence Officers
    Data Officers
    Financial Analysts
    Financial Decision Makers in Corporates
    General Managers
    Investment, Commercial and Retail Bankers
    Management Consultants
    Marketing Managers
    Operations Managers
    Project Managers
    IT personnel


Compressed Program Outline ( Please Contact us for a Detailed Program Outline)

Introduction to planning and control
Budgeting overview
Behavioural aspects of budgeting
Understanding cost behaviour
Flexible budgets and standard cost systems
Developing an annual/master budget
Conceptual aspects of budgeting
Resource allocation
Activity-based management and activity-based costing
Controlling Costs: Economy, Efficiency & Effectiveness
Delivering operational excellence