Budgeting & Costing Workshop
This practical course will explain the planning and budgeting for 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.
· Acquire best practices in budgeting
· Explain the costs concepts to the use of cost information for management control
· Describe the role of budgets in the management process
· Prepare a master budget and explain the inter-relationships among its supporting schedule
· Develop flexible budgets for evaluating short-term financial performance
· Identify different cost control measures
· Measure and evaluate performance
· Project management methods
· Budgeting Overview
· The budgeting process
· How and whom to engage
· Budgetary statements
· Budgeting Methods
· Top-down & bottom-up budgeting
· Zero-based versus activity based budgeting
· Types of Budgets
· Departmental budgets
· Cash budgets
· Capital and operating budgets
· Master budgets
· Types of Costs
· Fixed & variable costs
· Controllable & uncontrollable costs
· Budgeting and Forecasting
· Creating forecast for revenue and expenditure
Rolling forecast as a catalyst for change
All levels of Management, Executives and Team Leaders, who manage work teams or employees and who are responsible for creating conducing work environment infused with positive culture to engage employees.