Effective Budgeting and Cost Control

Course information:

Planning and budgeting are must-have skills for all professionals regardless of their function or managerial level. This course covers the concept of budgeting as a planning tool, a financial device and a control mechanism. In addition, it provides the necessary application tools required to making long-term and short-term planning decisions.

Course objectives:

This course will help participants to:

  • Appreciate the importance of the budgeting process and hence take ownership of it
  • Use it as a daily working tool – not an annual exercise – to help run their part of the operation
  • Improve their reporting and delivery against budget

Course contents:

  • Purpose of a budget
  • Stages of budget development
  • The budget flow
  • Advantages and limitation of budget
  • Master budget template
  • Preparing the different types of budget
  • Revenue budget
  • HR budget
  • Departmental budget – Segments
  • Cash budget
  • Purpose & function of a control system
  • Pro-active versus re-action control system

Linking the Tactical Budget to Strategic Objectives 

  • The Strategic Planning Process and the Budget as a Plan
  • Aligning the Budget with the Organization’s Strategy

The process of Budgeting

  • Budgets as a planning and management tool
  • The various stages of budget development
  • Various types of budget- Segmental Budget
  • Budgets as a planning and management tool
  • The various stages of budget development
  • Various types of budget
  • Flexible budget & Activity budgeting

Budgeting and Costing Techniques 

  • Forecasting Methods
  • Break-Even Analysis
  • Use of Standards
  • Trend Analysis and Cost Estimation
  • Variance reporting and analysis
  • Management control
  • Capital Budgeting
  • Use of various models for selecting capital expenditure
    • Pay back
    • Net Present Value
  • Internal Rate of Return
  • Financing the capital expenditure
  • The concept of cost of fund in capital budgeting
  • Risk consideration in capital expenditure
  • Case practice for:
    • Selecting capital decision
  • Preparing the capital budget
  • The concept of budget control with bench-marking in performance measurement
  • Behavioral aspects of budget and control
  • Budget as part of strategic planning

Cost Control and Management Budget Reports 

  • Budget as a Control Tool
  • Approaches to Cost Control
  • Understanding the Need for Timeliness and Precision
  • Variance Analysis
  • Problems in Budgeting


September, November

5 Days course – 8 hours each Day

October, December

5 Days course – 8 hours each Day

Other Qualification
Business Courses, Finance
With Certification

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