Advanced Budgeting, Performance Management and Cost Control Strategies

• Build an integrated planning, budgeting, and reporting process
• Understand the role of Budgets within organizations
• Understand Costs behaviour and manage costs more effectively
• Master traditional and innovative approaches to Budgeting and Cost Control
• Select the performance measurement systems and the KPIs that work

Content:

The Role of Budgeting & Cost Control

• The complexity of managing contemporary organizations
• Strategic planning, budgeting, and management control systems
• The key elements of budgeting: objectives, initiatives, and resources
• Understanding the context for budgeting & the role of the controller
• What are the advantages and the disadvantages of budgeting?
• What is it the situation in your organization? How to improve it?

Budgeting and Cost Control

• What are the essential inputs of the budgeting process?
• What is zero-based budgeting?
• Costing for budgeting: key terms and concepts
• Variable vs. Fixed costs
• The significant role of contribution margin
  • Cases, problems, and examples

Costing: From Traditional to Activity-Based

• Complementing traditional costing with activity-based costing
• Direct vs. indirect cost
• Cost allocation: traditional costing and activity- based costing (ABC)
• From traditional budgeting to Activity-based budgeting (ABB)
• The importance of costs analysis
• Cases, problems, and exercises

Capital Budgeting

• Capitalized vs. period costs.
• Capital budgeting.
• Payback period

For Whom:

Accountants, Auditors, Financial Controllers, Admin Managers, Planning Managers, Finance Managers and Financial Analysts, CFOs and others who perform related functions.

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.