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World Class Management Development Solutions

F13

Effective Budgeting and Operational Cost Control

Course fees £3600 Duration 5 days

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Introduction

In today's volatile business environment companies need to enhance their budgeting process to meet the high demands placed on management. This course will deliver the understanding of the significance of budgeting and its proactive use within the organisation. Delegates will have an opportunity to explore ways in which operational cost control combined with budgeting will enhance the overall performance of themselves and their organisations.

Who should attend?

This practical programme is designed for line managers and supervisors, in particular those personnel whose performance is evaluated against financial criteria.

  Overall had a great experience with such great information and participation. Great atmosphere with brilliant and helpful staff. Mr Khaled Abul, Kuwait Oil Company

Linking organisation's annual budget and strategic planning

The role of budgeting and budgetary control

    • Planned revenues, expenses, assets, liabilities and cash flows
    • A control system to achieve desired objectives
    • Capital expenditure budgets
    • Operational budgeting

The use of pivot tables and charting templates to:

    • Prepare budgets
    • Perform variance analysis
    • Perform/construct flex budgeting models
    • Charting the results

Flexible budgeting

    • Recognising different cost behaviour patterns
    • Computerised budgeting
    • Case study in budget preparation
    • Alternative budgetary techniques

Advanced costing methods

    • Activity based costing
    • Cost of quality reporting systems
    • Target costing

Financial performance measurement reports

    • Ratio analysis
    • Residual Income
    • Shareholder value analysis
    • Economic value added

Performance measurement

    • Benchmarking
    • The Balanced Scorecard

At the end of the course delegates will be able to:

    • Create and assess budgets
    • Develop activity based budgets
    • Identify and establish financial plans
    • Develop a capital expenditure budget
    • Create financial forecasts
    • Apply regression analysis techniques
    • Implement zero based budgeting techniques
    • Create inventory management procedures
    • Identify performance targets and opportunities