Budgeting & Cost Control

by Golden Masters for Training & Consultancy

This seminar uncovers the essential skills required to understand the processes of budgeting and cost control for better decision-making. From understanding the importance of a well defined budget process through to the importance of how cos

AED 17000

Contact the Institutes

Fill this form

Duration

5 days

Course Details

Course Description

All business decision-making involves analyzing situations containing varying degrees of risk. This seminar uncovers the essential skills required to understand the processes of budgeting and cost control for better decision-making.

From understanding the importance of a well defined budget process through to the importance of how costs behave so that realistic cost cutting and budgeting plans can be produced. In this seminar you will learn how to:

· Identify the principal factors required to produce a successful business case

· Develop budgeting and financial skills required for better decision-making

· Identify sources of financial and business data to support the budgeting process

· Learn new techniques and methodologies to simulate typical business scenarios

Course Objective:

- Understand the importance of a well-defined budget process

- Learn costing and budgeting terminology used in business

- Master techniques for cost-benefit analysis

- Learn how to construct profit, cash and balance sheet plans and budgets

- Learn how to evaluate variances from plan and identify corrective actions

- Understand discounted cash flow (DCF) techniques and their application to financial decision making

- Build and use budgets relevant to your organisation

Training Methodology:

You will learn by active participation during the programme through the use of exercises, case studies, practical workshops, and syndicate and group discussions.

Programme Summary:

This training session is presented in a manner that will make budgeting, costing and decision making techniques more easily understood by people from every discipline across the organisation. Case studies and practical exercises are used to emphasize key issues and underpin learning by relating them to typical business scenarios.

Course Certificate:

MASTERS Certificate will be issued to all attendees upon course completion.

Course Outline:

Day 1 - The need for Financial Control in business

- Understanding accounting

- Management accounting versus financial accounting

- The relationship between business management and financial management

- How budgeting fits into the bigger picture

- How cost management improves an organization’s financial position

- Key aspects of managing working capital

Day 2 - Capital Budgeting and Investment Appraisal

- The time value of money

- Understanding Appraisal Techniques - Net Present Value (NPV), Internal Rate of Return (IRR) and Payback period

- Selecting an appraisal technique

- The use of Sensitivity analysis in evaluating projects

- Strategic considerations in assessing capital projects

- Creating an effective Capital Budgeting framework

Day 3 - Cost Analysis and Management

- Understanding cost structure and behaviour

- Costs as a relationship to outputs – cost/volume/price relationship

- The concept of contribution margin

- Break-even analysis for planning and control

- Cost allocation and apportionment

- Benefit-cost analysis

Day 4 - Full Costing, Marginal Costing and Activity Based Costing

- Comparing full and marginal costing

- Direct and indirect costs in budgeting for decision making

- Role of costs in pricing strategies

- Activity Based Costing (ABC)

- Managing cost control

Day 5 - Budget Construction and Control

- Nature and purpose of budgets for planning and control

- Types of budgets and budgeting

- Creating Key Performance Indicators for financial and non financial performance

- Building a budget

- Budgetary control and variance analysis

- Budgeting for non-financial measures -introducing the Balanced Scorecard

Masters Training Company was established in response to the growing need for quality training to support the business community within your Company, Department or Organization by providing a high standard of Training Programs, Courses, Seminars, Workshops and Consultancy Services to employees in a very competitive business environment.

Following the latest trends and ideas in Technology and Management techniques, and with its in-depth knowledge of the business environment, Masters Training Company is able to meet the special requirements of both local and international business throughout the Middle East. Masters Training & Consulting is an independent multinational firm with more than 25 years of experience in helping regional organizations develop their human capital in all fields of management.

Since 1990, we have been entrusted by our clients to provide the most reliable training and consulting products and services in the region. Our innovative and diversified range of training programs and consulting services are designed and delivered by an ever-growing team of full time multilingual consultants experienced in providing solutions relevant to this part of the world and applicable to today’s business challenges.

We pride ourselves on our track record in this regard and on our long-standing relationships with our clients, many of whom have been with us since we started business.

Our public training programs have attracted more than 300,000 participants from almost 3,000 organizations many of whom also entrust us with their needs for bespoke in-company programs. Our client base is steadily growing and so is our commitment to remain the regional leaders in the fields of training and consulting.

Masters is also an approved vendor from KHDA & ILM

View Detailed Profile

Sheikh Zayed Road Branch

Kherbash Tower, Office # 1803 & 1804, Sheikh Zayed Road, Dubai

2 Reviews

0

(Institute Review)
55 years ago

0
(Institute Review)
55 years ago

Submit Your Course Review (For Enrolled Students Only)

This form is for submitting course reviews only. If you have questions about the course, please use the Ask Us? form.

Rating:

I confirm that I have completed this course..

Check out more Budgeting and Cost Control courses in UAE

Budgeting, Planning and Forecasting

This training will help you in understanding the key budgeting tools and financial terms. You will be able to relate to the core budgeting and financial terms at your workplace once you complete this training.

by Global Business Advisors (Corporate Training Providers)

Price AED 14500
Start Date Inquire Now
Duration 5 Days

read more course details

Cost Accounting

This training will teach you how to record, classify, analyse, summarise and allocate cost to an on-going project and then take proper actions to control costs. It will give you detailed information on managing cost and controlling current/f

by Emirates Education Centre

Price AED 1500
Start Date Inquire Now
Duration 20-25 Hrs

read more course details

Result Based Budgeting

Learn everything you need to know about Result Based Budgeting in this training where you will explore both theoretical and empirical perspectives on public finance management and the budgeting process with a focus from a broader macroeconom

by Global Business Advisors (Corporate Training Providers)

Price AED 14500
Start Date Inquire Now
Duration 5 Days

read more course details

Certified Advanced Budgeting & Cost Control Professional

This training will teach you to prepare and review a budge, understand the role of forecasting, gain the confidence to use variance analysis and other month-end issues and learn about cost and its types.

by Kings Global Career Academy