After completing the course, participants will be able to:
* Provide the participant with an understanding of the essential elements of financial planning, costing, budgeting and project appraisal
* Review of the concept and practice of budgeting and cost control
COURSE OUTLINE
1. Introduction to Budgeting, Accounting and Cash Flow Management
* Types of Budget
* Advantages and Disadvantages of Budgets
* Budgeting Processes
* Understanding Control Mechanisms
2. Preparing Budget Forecasts
* Collecting and Collating Information
* Forecasting Revenues and Incomes
* Forecasting Expenses
3. Presenting Budget Forecasts
* Budget Committees
* Winning in Committee
* Developing a Master Budget
* Building in Control and Safeguards
4. Monitoring Budgets
* Monitoring Processes
* Analyzing Income; Analyzing Expenditures
* Ratio Analysis
5. Controlling Budgets
* Identifying Significant Variances
* Boosting Revenues; Controlling Costs
* Making Changes; Tool for Decision Making
6. The Money Cycle in the Business
* Sales Income; Fixed Assets
* Fixed and Variable Costs
* Management of Working Capital
7. Constructing Budgets on Spreadsheets
* Advantages of Spreadsheets
* Logical Budget Models
* Implementing Spreadsheet Models
8. Getting Buy-In To Budgets
* Getting Commitment at Budget Preparation
* Agreeing and Committing to of Budget Targets
* Human Aspects of Monitoring Budgets
* Human Aspects of Control
* Course Review
* Course Evaluation
9. Cost Management and Analysis
* Cost Behavior
* Break-Even Analysis
* Contribution Analysis
* Standard Costing and Variance Analysis
* Cost Analysis
* Analysis of Conventional and Problem
* Layered Profitability Analysis
* Using the Activity Analysis
* The Dimensions of Customer
* Difference between Customer and Product Analysis based on : Whether the Product can be Used Directly to Customers Indirectly and Vice Versa
* Suitability of Various Cost Approach: Traditional and Activity Based
* Cost Analysis in the New Environment the Current Manufacture
* Volume Chain Analysis
* Mini Cases
10. Emerging Cost Management Techniques
* Activity Based Management
* Target Costing
* Throughput Accounting
* Relevant and Irrelevant Costs
* Course Review and Evaluation
METHOD
Presentation
Discussion
Case Study
Evaluation
