Budget Preparation, Allocation and Cost Control

This Budget Preparation, Allocation & Cost Control 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.

Participants attending this training course will:

• Successfully build 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 prepared to understand and implement the Balanced Scorecards
• Be prepared 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

• Those in charge of 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

Organisational Impact

Participants in this training seminar will provide benefits for their organisation from the skill set and enhanced knowledge that they will take back to the workplace:

• Thinking strategically to improve their understanding of the annual budget setting process and its links with the organisation's longer-term plans
• Choosing appropriate approach to costing for more accurate planning and budgeting to enhance the actual performance
• Improved forecasting and budgeting resulting in more efficient use of resources and value-adding opportunities
• Applying effective budgetary control using flexed budgets and variance analysis, the balanced scorecard, and identifying ways the organisation's budget process may be improved
• Communicating more effectively with other professionals and sharing knowledge gained from the seminar throughout the organisation

Personal Impact

Participants in this training seminar will significantly enhance their understanding of the links between the strategic planning and budget setting processes and develop their application of budgeting and budgetary control best practice through:

• Developing their ability to think strategically and prepare successful financial plans and budgets consistent with the organisation requirements
• Comparing fixed and variable costs, direct and indirect costs, and the use of contribution accounting and Cost/Volume/Profit (CVP) analysis
• Applying traditional and Activity-Based Costing (ABC) methods and allocation of overhead costs for planning, budget setting and budgetary control
• Using the appropriate techniques of forecasting sales and costs, and sales pricing, and preparation of departmental budgets, the master budget, and cash budget
• The use of standard costing in budgetary control using flexed budgets and variance analysis, the balanced scorecard, and evaluating ways of improving the organisational budget process