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Managing Budgets Course

By: TSI Limited

Ogun State, Nigeria

13 - 15 Jul, 2022  3 days

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NGN 150,000

Venue: Online and Class room @ 4, Akinpelu Street, Lagos - Ibadan Express Road, Behind ENYO Petrol, Ibafo Bus stop, Ibafo, Ogun State

To ensure effective financial management of a department or and even the entire organization, there is the need to ensure compliance with the approved budget while operational costs need to be monitored and controlled so as to ensure financial discipline. Budget Management ï»¿training course will help participants to understand the main concepts and methodology around cost management and budgeting.

Learning Objectives:

At the end of this session, participants will be able to:

  • Apply the essential concepts of accounting, budgets and finance;
  • Recognise the importance of reducing unnecessary costs;
  • Use best practices to create written budget justifications
  • Practice budgeting for capital assets, and integrate performance budgeting into  organization’s budget formulation process,
  • Apply budgetary control measures;
  • Evaluate and report budget performance.

Course Outline

  • The key role of budgeting and cost control in contemporary organizations
  • Towards a cross-functional process-view of the organization
  • Financial vs. Managerial accounting (for decision making)
  • Understand you processes: integrating financial and non-financial aspects
  • Budgeting and Cost analysis
  • 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: inventory evaluation and control
  • Under-costing and over-costing: the consequences for profitability
  • How to refine a costing system?
  • Indirect (OH) Vs. Direct costs: Traditional Cost Allocations systems Vs. Activity-Based Costing (ABC)
  • Cost hierarchy and Cost drivers
  • Linking resources, activities and management
  • Introducing Activity-Based Budgeting (ABB) and Management (ABM)
  • Role of cost management in the business strategy
  • Cost management and motivation
  • Embedding cost control in the business
  • Role of Finance in cost control
Online and Class room @ 4, Akinpelu Street, Lagos - Ibadan Express Road, Behind ENYO Petrol, Ibafo Bus stop, Ibafo, Ogun State Jul 13 - 15 Jul, 2022
NGN 150,000.00
(Convert Currency)

Prof. Richard Mayungbe +1-646-202-8832, 08033467639, 08023019508

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