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Effective Budgeting and Cost Control for Public Service Course

By: Windsor Training and Consulting Nigeria Limited

State, Nigeria

20 - 23 Aug, 2019  4 days

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NGN 250,000

Venue: Abuja

At the end of the course on budgeting and control cost for public executives,participants will be able to link their ministries, departments, agencies and parastaltals to revenue and expenditures to service deliveries. Planning and budgeting are must-have skills for all professionals regardless of their function or managerial level. This course covers the concept of budgeting as a planning tool, a financial device and a control mechanism. In addition, it provides the necessary application tools required to making long-term and short-term planning decisions.

Course Objectives

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

  • Defend the importance of linking an organization's budget with its strategic plan
  • Demonstrate how the budget relates to the key financial statements: balance sheet, income statement, and cash flow
  • Prepare the key elements of an operating and capital budget and evaluate the different budgeting approaches used
  • Apply cost control tools, analyze management variance reports and take proper corrective action
  • Calculate different capital budgeting evaluation techniques as included in a capital expenditure proposal
  • Utilize cost-volume-profit analysis in making budgeting decisions

Target Audience

Treasurers, Accontants, managers, supervisors and analysts who prepare or use management budgets.

Target Competencies

  • Interpreting financial statements
  • Planning and budgeting
  • Cost control
  • Capital budgeting
  • Applying cost-volume-profit analysis
  • Utilizing break-even analysis

Course Outline

  • Planning and the functions of management
  • The critical functions of management
  • Aligning the budget with the strategy of the organization
  • Road map to strategy
  • Budget as a planning tool
  • Control: the missing link
  • Planning pitfalls
  • The key financial statements
  • The accounting system
  • The income statement
  • The balance sheet
  • The cash flow statement
  • Budgeting: process and approaches
  • The advantages of budgeting
  • The budget process
  • Rolling budgets
  • The master budget
  • Operating and capital budgets
  • The budgeted financial statements
  • Approaches to budgeting:
  • Incremental budgeting
  • Zero based budgeting
  • Flexible budgeting
  • Kaizen budgeting and continuous improvement
  • Activity based budgeting
  • Tools of forecasting
  • Direct and indirect costs
  • Characteristics of an effective budget
  • Problems in budgeting
  • Cost control
  • Budget as a control tool
  • The control process
  • Characteristics of an effective control system
  • Responsibility reporting
  • Variance analysis: identifying the components of variance
  • Variance analysis: taking the corrective action
  • Capital expenditure budgeting and analysis
  • Time value of money
  • Simple versus compound interest
  • Identifying and analyzing cash flows
  • The discount rate: using cost of capital
  • Net Present Value (NPV)
  • Internal Rate of Return (IRR)
  • Profitability Index (PI)
  • Pay-Back Period (PBP)
  • Accounting Rate of Return (ARR)
  • Approval for Expenditure (AFE)
  • Sensitivity and risk analysis
  • Cost-Volume-Profit analysis (CVP)
  • Identifying the fixed costs and variable costs
  • Computing breakeven point in units
  • Computing breakeven point in sales
  • Assumptions of CVP analysis
  • Using CVP in budgeting decisions
Abuja Aug 20 - 23 Aug, 2019
NGN 250,000.00
(Convert Currency)

Dr.Kola Adekunle 07035367989, 09090014351

Register 4 participants for the same course and dates, enjoy 10% discount
Dr.Kola AdekunleProf MayugbeFelix Agboola FCA
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