The Essentials of Budgeting and Cost Control
TRAINING & WORKSHOP
Boost your financial know-how and get a new financial attitude
2022
Delivered by Iuliana Andronache
TRAINING DESCRIPTION AND OBJECTIVES
All firms need to budget and keep costs under control. Budgets are strongly associated with the creation and implementation of a strategy. Budget accuracy is based on cost control and analysis, and learning how expenses behave is essential for developing realistic plans.
Understand the connections between traditional and new techniques and strategic planning, budgeting, and cost control. This training will show you about using budgeting and control tools along with new dynamic approaches to reflect and respond to today's complex business environment.
Key benefits
How to build integrated planning, budgeting, and reporting process and the role of Budgets within organizations and how to select the performance measurement systems and the KPIs.
TRAINING OVERVIEW
DAY 1
The Role of Budgeting and Cost Control
Strategic planning, budgeting, and management control systems
The key elements of budgeting objectives, initiatives, and resources
The budgeting context
Cases, problems and examples
Budgeting and Cost Control
The essential inputs of the budgeting process
Costing for budgeting, variable versus fixed costs and direct versus indirect cost
Cost allocation, traditional costing and activity-based costing (ABC)
From traditional budgeting to activity-based budgeting (ABB)
Zero-based budgeting
The important role of contribution margin
Cases, problems and examples
DAY 2
Capital Budgeting
Capitalized versus period costs
Capital budgeting
Payback period
Net-present value
Internal rate of return
Beyond the Budgets: linking financial and non-financial KPIs
The balanced scorecard and KPIs
Case, problems, and examples
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DELIVERY DATES AND INVESTMENT
The training dates are to be disclosed shortly.
The investment for the open training is 150 EUR for each participant (excluding VAT), with only a maximum of 15 people attending.
Please ask for a quotation for in house training.