In order to make better business decisions, decision makers need to understand the fundamentals of budgeting and costing. This training course has been devised to give business decision makers a good understanding on budgets, cost controls, variances and associated analysis that will lead to better decisions being made & better results being attained.
The Effective Budgeting & Cost Control training course will clarify budgeting terms; clearly explain the methodology used and cover both traditional & non-traditional budgeting methods through to newer methods and approaches. We will take the same approach with all elements of costing.
LEARNING OBJECTIVES
Understand the budgeting process
Learn the range of budgeting options
Understand both budgeting and costing terminology
Calculate more effective budgets
Utilize improved costing methods
Be in a position to devise their own budget and control system
Be aware of non-budget tools such as Balance Scorecards
TARGET AUDIENCE
All personnel involved in preparation of budgets
Budget supervisors
Operational managers
Productions managers
Financial managers
Others who provide and enter information
Anyone else who wants to understand budgets and costing within their business
TRAINING METHODOLOGY
The practical and results-oriented Effective Budgeting & Cost Control training course is based on adult learning concept. It incorporates short inspiring lectures with captivating PowerPoint slides; videos to enhance learning; ongoing discussions with action planning; ample time for Q&A; training activities to reinforce key concepts within a fun learning environment.
Pre & Post course assessments will be used to measure the effectiveness of this training.
COURSE CONTENTS
DAY 1 -Strategic and Financial Planning
Description:
On Day 1 we will cover the strategic elements leading to better budgets.
KeyTopics:
What comes before the financial numbers?
Differences between Financial and Management accounting
Changing Competitive Environment
How strategy links to budgeting and costing
The need for the strategic plan
Mission, Vision, Goals
Using Porters 5 Forces, SWOT and PESTLE
Aligning budgeting to the Organizations strategy Case studies and exercises
DAY 2 -Factors Affecting Budgeting and Cost Control
Description:
On Day 2 we will cover the manufacturing elements leading to better costing
KeyTopics:
The Product Lifecycle
Focus on customer satisfaction
The Value Chain
World Class Manufacturing
Just In Time (JIT)
Quality Management Systems
Theory of Constraints
Throughput Accounting
Target Costing Case studies and exercises
DAY 3 - Costing: From Traditional to Activity-Based
Description:
On Day 3 we will drill down into the details that make costing better
KeyTopics:
Different types of costs
Cost centers
Full costing
Absorption costing
Marginal costing
Standard Costing
Break-even analysis
Activity-based approaches
Variance analysis
Direct product profitability Case studies and exercises
“This course helped me to gain more key factors to improve the maintenance management” – Maintenance Planning and Cost Control
“The course has been able to enhance my knowledge in leadership as a whole which I intend applying on the job” – Essentials of Management & Leadership
“Excellent method on delivering the topics, very clear and specific” – Writing Project Scope and Procurement Statements of Work
“An appraisal of my leadership journey, very practical tips on leadership dynamics and how it will grow me” – Next Generation Leadership
“Learnt how to communicate effectively, it changed my attitude about motivating staff” – Motivational Training for Managers
“I have realised that, for me to become a good manager, I need to apply qualities of a good leader which I lent in this class” – Management & Leadership Skills for the Supervisor-New Manager
“ It was very informative. It provided guidelines & bigger picture of my work of budgeting and cost control” – Effective Budgeting and Cost Control
“I learnt different skills and technique about data analysis technique; those new learnings will help me increase my work efficiency” – Data Analysis Techniques
An excellent probgramme with superb content throughout. This course really Thought provoking with additional references to follow up on. I throughly enjoyed the weekly recommend this to anyone looking to pursure a Non-exec’ role! Go for it! Contact me anytime for further comment.
“It has a great impact in widening and solidate knowledge” – Work – Life Balance
“Help us priorities things in own life, see good things in every obstacle / failure” – Work – Life Balance
“Helped to enhance my communication skills persuasively” – Interpersonal Skills for Managers
“We have learnt new things about communication & interpersonal Skills” – Interpersonal Skills for Managers
“The course has been an eye-opener and a lot of new ideas have been learnt” – Vehicle Fleet Development & Management
“This course has been beneficial and it will be helpful in managing my subordinates” – Fleet Management & Leadership
“This training course is beneficial to me and company” – Vehicle Fleet Development & Management
“I have attended several training programmes, but this one is the best” – Fleet Management & Leadership
