Excellence in Budget Preparation, Allocation and Cost Control

OBJECTIVE
Participants attending this training workshop course will:
• Successfully build an integrated planning, budgeting and reporting process
• Understand costs behavior more accurately
• Deliver more timely and useful information to decision-makers
• Understand capital budgeting
• Identify & manage key financial indicators for the business
• Be able to use specific cost analysis and performance measurement techniques
• Be able to understand and implement the Balanced Scorecards
• Be able to interpret the financial impact of strategic directions
• Understand the problems of overheads allocation and how Activity-Based Analysis may aid decision-making and pricing strategies
• Select the performance measurement systems that work
• Think proactively beyond budgeting

CONTENT
Budgeting and Cost Control in the Management System: Link with Strategic Planning
• Budgeting and the Management System of Contemporary Organizations
• Strategic Planning, Budgeting and Management Control
• Strategic Management Accounting – setting goal and objectives
• From Strategic to Operating Plans – actions and initiatives
• Measuring and Managing the Performance – KPIs and targets
• Managerial Accountability

Budgeting: Principles and Key Concepts
• Understanding the Context for Budgeting
• The Benefit of Budgeting and its Role for Achieving Organizational Targets
• The Shortcomings of the Budgeting Process – How to improve them?
• Principles of Budgeting
• Main Issues with Budget Preparation
• Capex (Capital Expenditures) vs. Opex (Operational Expenditures)

Cost Analysis for Budgetary Purposes
• Cost Concepts and Terminology
• Different Costs for Different Purposes
• Fixed vs. Variable Costs: The Cost-Volume-Profit Analysis Model
• Contribution Margin Analysis
• Manufacturing vs. Non-manufacturing Costs
• Period vs. Product Costs

Traditional vs. Advanced Techniques in Cost-Control
• Under-costing and Over-costing: Understand Allocation Methods
• How to refine a Costing Cystem?
• Indirect (OH) vs. Direct Costs
• Traditional Cost Allocations Systems vs. Activity-Based Costing (ABC)
• Cost Hierarchy & Cost Drivers – Linking Resources, Activities and Management
• Introducing Activity-Based Budgeting (ABB) and Management (ABM)

New Integrated Performance Measurement Systems
• Beyond Budgeting: Integrating Financial and Pre-financial Information
• The Drivers of Value Creation
• The Balanced Scorecard
• Strategy Maps
• Integrated Reporting
• Connectivity Strategic Goals, Objectives, Actions and Results

FOR WHOM:
Accountants, Budgets Managers, Planners, Schedulers, Heads of Departments, Financial Managers, Auditors and others who perform related functions in Public and Private Sectors

Methodology
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.
DATE:
1ST BATCH: 2nd – 4th Apr, 2025
2ND BATCH: 14th – 17th Oct, 2025