Quodrat

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  • Program Name

    Financial Planning budgets and systems cost control Diploma

  • Duration

    6 - 8 months

Description

  • Budget Preparation, Allocation & Cost Control training is essential for organizations and assists them in the decision making and planning process. This seminar provides participants with crucial cost awareness and budgetary skills by combining techniques analysis, problems and examples of real case studies, which is essential in managing and controlling processes / projects in times of increasing global competition where the budgets are inextricably linked with both strategy formulation and cost analysis.
  • The effective management of budgeting and cost control is crucial for contemporary organizations. In a modern competitive world, companies want to stay competitive; they are urged to think in terms of process-value added to customers / shareholders. Along this line, budgeting, as well as tracking, controlling & reducing cost, represent essential activities that should be monitored efficiently by organizations as they implement their key processes, activities and operations

Objectives

  • By the end of the course, participants will be able to:
  • Defend the importance of linking an organization’s budget with its strategic plan
  • Demonstrate how the budget relates to the key financial statements: balance sheet, income statement, and cash flow
  • Prepare the key elements of an operating and capital budget and evaluate the different budgeting approaches used
  • Apply cost control tools, analyze management variance reports and take proper corrective action
  • Calculate different capital budgeting evaluation techniques as included in a capital expenditure proposal
  • Utilize cost-volume-profit analysis in making budgeting decisions