Code Date Venue Fees
FI067 25 - 29 Jun 2018 London - United Kingdom $5,500 Register
FI067 29 Oct - 02 Nov 2018 Amsterdam - The Netherlands $5,500 Register
Home » Seminars » Finance & Budgeting » Budget Preparation, Allocation & Cost Control

Introduction

This GLOMACS Budget Preparation, Allocation & Cost Control training seminar provides participants with key cost awareness and budgetary skills by combining techniques analysis, problems and examples with 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. Nowadays, if 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 to be performed and monitored by organizations as they implement their key processes, activities and operations. In addressing these issues, this training seminar is relevant for those professionals & analysts facing the difficult challenge of improving performance while reducing costs of those processes for which they are accountable.

This training course will feature:

  • Identify the role of budgeting within the organization’s management system
  • Develop proper system of cost analysis for budgeting purposes 
  • Master the budgeting and financial skills required for better decision-making
  • Link strategy to operational plans
  • Learn new best practices to manage organizational performance
  • Integrate organizational drivers with strategic objectives
  • Connect financial and pre-financial drivers

Objectives

Participants attending the training 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

Training Methodology

This Finance and Budgeting training seminar combines theory and practice. Therefore, besides lectures based on Power Point presentations, discussions and exercises, we use company examples to illustrate how the techniques presented have been applied in real case studies.

Who Should Attend?

  • Those in charge for designing and managing a budgetary system
  • The staff person who will be responsible for entering data into the budget system or training others how to enter information
  • Those who want to gain control of the firm's financial standing and obtain a firm grasp on the numbers side of their job
  • Financial professionals, R&D professionals, sales/marketing professionals, general accounting professionals, business unit professionals
  • Anyone who wants to understand the basics of budgeting, costing and performance measurement

Seminar Outline

DAY 1

Budgeting & 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  

DAY 2

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)

DAY 3

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

DAY 4

Traditional vs. Advanced Techniques in Cost-Control

  • Under-costing and over-costing: understand allocation methods
  • How to refine a costing system?
  • 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)

DAY 5

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

Accreditation

  • Quality Logo

In Association With

Oxford Management Centre

Oxford Management Centre

A GLOMACS - Oxford Management Centre collaboration aimed at providing the best training services and benefits to our valued clients

Visit website

You may also be Interested in...

Home » Seminars » Finance & Budgeting » Budget Preparation, Allocation & Cost Control

© 2017. Material published by GLOMACS shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

DMCA.com Protection Status

Send to Colleague

© 2017. Material published by GLOMACS shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.





Sending your message. Please wait...

Send Successfully

There was a problem sending your message. Please try again.

Please complete all the fields in the form before sending.

Print Page

© 2017. Material published by GLOMACS shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.






Sending your message. Please wait...

Close

There was a problem sending your message. Please try again.

Please complete all the fields in the form before sending.

Download PDF

© 2017. Material published by GLOMACS shown here is copyrighted.

All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.






Sending your message. Please wait...

There was a problem sending your message. Please try again.

Please complete all the fields in the form before sending.



Budget Preparation, Allocation & Cost Control


Upcoming Dates

Code Date Venue Fees
FI067 25 - 29 Jun 2018 London - United Kingdom $5,500
FI067 29 Oct - 02 Nov 2018 Amsterdam - The Netherlands $5,500

Introduction

This GLOMACS Budget Preparation, Allocation & Cost Control training seminar provides participants with key cost awareness and budgetary skills by combining techniques analysis, problems and examples with 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. Nowadays, if 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 to be performed and monitored by organizations as they implement their key processes, activities and operations. In addressing these issues, this training seminar is relevant for those professionals & analysts facing the difficult challenge of improving performance while reducing costs of those processes for which they are accountable.

This training course will feature:

  • Identify the role of budgeting within the organization’s management system
  • Develop proper system of cost analysis for budgeting purposes 
  • Master the budgeting and financial skills required for better decision-making
  • Link strategy to operational plans
  • Learn new best practices to manage organizational performance
  • Integrate organizational drivers with strategic objectives
  • Connect financial and pre-financial drivers

Objectives

Participants attending the training 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

Training Methodology

This Finance and Budgeting training seminar combines theory and practice. Therefore, besides lectures based on Power Point presentations, discussions and exercises, we use company examples to illustrate how the techniques presented have been applied in real case studies.

Who Should Attend?

  • Those in charge for designing and managing a budgetary system
  • The staff person who will be responsible for entering data into the budget system or training others how to enter information
  • Those who want to gain control of the firm's financial standing and obtain a firm grasp on the numbers side of their job
  • Financial professionals, R&D professionals, sales/marketing professionals, general accounting professionals, business unit professionals
  • Anyone who wants to understand the basics of budgeting, costing and performance measurement

SEMINAR OUTLINE

DAY 1

Budgeting & 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  

DAY 2

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)

DAY 3

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

DAY 4

Traditional vs. Advanced Techniques in Cost-Control

  • Under-costing and over-costing: understand allocation methods
  • How to refine a costing system?
  • 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)

DAY 5

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

Quality Logo

GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.

 

All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.



© 2017. Material published by GLOMACS shown here is copyrighted.
All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing (in any medium), transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.

Print Logo
P.O. Box 74653, Dubai, United Arab Emirates
Tel : +971 - 04 - 425 0700, Fax : +971 (04) 425 0701, Email : info@glomacs.ae

Download Training Calendar

Want to stay in touch with what's happening in Glomacs?
Join the conversation on our social media channels:

Facebook Twitter LinkedinYouTube