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Budgeting, Accounting and Cost Control Course

By: Alpha Partners

Lagos State, Nigeria

26 - 29 Nov, 2019  4 days

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NGN 160,000

Venue: Alpha Partners Professional Training Conference Centre. 200, Muritala Mohammed Way (3rd Floor), Yaba Lagos.

  • Refine costing and budgeting terminology used in business
  • Understand the importance of a well-defined costing and budgeting process
  • Determine full costs of outputs for the goods and services provided
  • Master traditional techniques and recent best practices on budgeting / cost control
  • Link finance and operation for budgeting purposes and strategy execution
  • Learn how to build a comprehensive performance measurement system

Content

Introduction: The Relevance of Budgeting and Cost control within Strategy Execution 

  • The Link between Strategy, Planning, Budgeting and Cost control
  • Why Budgeting and Costing are so important to manage your company?
  • Towards a Cross-functional Process-view of the Organization
  • Financial vs. Managerial Accounting (where you get information for decision-making)
  • Understand your Processes: Integrating Financial and Non-financial Aspects
  • Identify and Discuss the Key issues in terms of Budget / Costing for your own Organization
  • Discussion
  • The Budgeting Framework and its Role within the Management Process 
  • The Role of Budgeting within Management Accounting
  • The Value of Budgeting in your Company
  • Behavioral Implications of Budgeting
  • Key Concepts and Terminology
  • Advantages and Disadvantages: Critical issues to be Discussed
  • Overview on the Financial Statements - Balance sheet, Income statement and Cash-Flow
  • Case Discussion and Examples
  • Cost Management for Budgeting 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: Inventory Evaluation and Control
  • Case Study and Discussions
  • Case Study Day - Traditional vs. Advanced Techniques in Cost-control 
  • Under-costing and Over-costing: the Consequences for Profitability
  • How to refine a Costing System?
  • Indirect vs. Direct costs: Traditional Cost Allocations Systems vs. Activity-Based Costing
  • Cost Drivers: Linking Resources, Activities and Management
  • Introducing Activity-Based Budgeting (ABB) and Management (ABM)
  • Case Study Analysis
  • Examples and Videos
  • Broadening the Performance Measurement Systems 
  • Shortcomings of Traditional Approaches to Budgeting and Performance Measurement
  • Need to Link Financial to Operational Issues
  • Recent Best Practices: The Balanced Scorecard and Six-sigma
  • Financial Perspective and Customer Perspective
  • Internal Business Process Perspective and Learning & Growth Perspective
  • Developing and Adapting the Scorecard
  • Video, Case Study Illustration and Discussion

For Whom:

 Accountants, Auditors, Financial Controllers, Admin Managers, Planning Managers, Finance Managers and Financial Analysts, CFOs and others who perform related functions in both public and private sectors.

Training Methodology

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.

Alpha Partners Professional Training Conference Centre. 200, Muritala Mohammed Way (3rd Floor), Yaba Lagos. Nov 26 - 29 Nov, 2019
NGN 160,000.00(The Workshop fee is N160,000.00 (One Hundred and Fifty Thousand Naira) only per participant to cover workshop literature and materials, executive bag, tea/coffee, lunch, photograph and certificate.)
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Chris Onwuasigwe, FCA – 08033045484 08033045484

5% discount for 3-5 participants and 10% discount for 6 and above number of participants from the same organization.
A distinguished team of facilitators who are eminently qualified professionals has been assembled to lead discussions in course of the workshop.
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