Budgeting & Cost Control
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1- Online Training...with international accreditation. The value of participation per person is €1,450
2-Requirement : specifying the course, number of participants
implementation date, and joint coordination.
Group contracting ... 20% Discount For Each Participant In Any Group Of Five Person Or More
Other Places To Hold The Course :
KualaLumpur.. Istanbul.. Dubai.. Cairo.. Riyadh.. Jeddah.. Abu Dhabi.. Doha.. Muscat.. Sharm El Sheikh.. Kuwait.. Tripoli.. Amman.. Beirut.. Damascus.. Tunisia.. Casablanca.. London.. Paris.. Barcelona.. Amsterdam.. Brussels
Budgeting & Cost Control
Introduction :
All business decision making involves analysing situations and assessing alternatives, risks and benefits. This Budgeting & Cost Control training course offers an opportunity to acquire and then deploy new skills and ideas to achieve improved financial operations and strategies. The knowledge acquired will enhance the budget process and control processes through a variety of strategies and techniques that will provide new insights to how financial performance can be enhanced.
Course Objectives :
At the end of this course, the participants will be able to :
- Understand the importance of a well-defined budget processand create budgets relevant to your organisation
- Acquire costing and budgeting terminology and techniques
- Master methods for risk, payback and cost-benefit analysis
- Learn how to integrate profit, cash and balance sheet plans and budgets
- Using ‘what-if’ and Stochastic Models to evaluate probable outcomes and ranges of variances and identify key drivers for corrective actions
- Understand the use of Present Value, IRR and discounted cash flow (DCF) to support investment and financial decision making
Targeted Audience :
- Both financial and non-financial professionals at all levels
- Delegates with a financial background will enjoy the opportunity to broaden their knowledge base in aspects of budgeting and cost control that may not be part of their current responsibilities or experience
- By participation in this course, participants whose background is not in the financial sector will gain an understanding of both the strategic and the technical aspects of budgeting and cost control involving both the financial and the operational opportunities for performance improvement
- At the conclusion of the course all delegates will gain a strong understanding of the practicalities; techniques and strategies of budgeting and cost control that will both enhance their effectiveness and contribution in their current role and their career opportunities based on the skills and insights acquired
Course Outlines :
Day 1 – The need for Financial Control in Business
- Understanding accounting principles and methods
- 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 organisation’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
- Probability Models (Monte Carlo), Stress Testsand Value at Risk (VaR)
- 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
European Business Center Training Methodology :
Our training work is presented in a professional and attractive manner.. Interspersed with interceptive information to renew attention throughout the training period… We aim with this method to train the listener and interact… In addition to practical applications that target the direct skills and knowledge required to be achieved.. It is presented to the trainees in more than one way.. Practical exercises and applications.. Surveys and questions.. A training strategy has been adopted based on pairing between the theoretical and the professional and between the local and the global.
What Does The Participant Get From The Course?
Each participant obtains an internationally accredited training certificate from the European Business Center for Training and Development … which has the ISO certificate in quality No. 9001/2015 from the English international company UKAS .. and receives a training bag containing the scientific material via an electronic flash … in addition to an enjoyable and useful training that is reflected Positive and developmental for individuals and the institution
Note :
We can implement the training course in any of the cities referred to in this course..at the appropriate and required time for the trainees..through joint coordination with the training department at the center..the training is implemented in a distinctive manner according to the best quality standards so that we meet all training requirements and needs.
International Accreditations
European Business Center for Training and Development has obtained international and official accreditations with the highest and best international levels scientifically and technically, which reflect the level of outstanding performance in our training work.. so that it achieves what each participant aspires to by obtaining the best certificates with officially approved scientific and technical standards.
