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This Course is Designed For:

  • Ø Managers with direct financial responsibilities
  • Ø Cost and management accountant
  • Ø Financial planners and cost analysts
  • Ø Senior managers who supervise people with financial responsibilities
  • Ø Financial and budget controllers who are moving to wider responsibilities
  • Ø Managers who need to know more about business planning, budgeting, costing terms and techniques.
  • Ø Managers who have to plan, cost and budget new business ventures.
  • Ø Managers and Supervisors from every business discipline and department who have to run departments and plan, cost and budget during their business lives.
  • Ø First appointment managers on fast-track development Programmes
  • Ø Managers who require a refresher programme on the topic.

Duration: 5 Days

All long and short-term business decision-making involves analysing situations containing varying degrees of risk, and the available data might lack integrity, containing ambiguities or outdated information. It is important to understand how costs behave so that realistic plans and budgets can be produced and appropriate financial resources made available.

Planning is crucial step for business success and budgets are one of the most widely used tools for planning and controlling, used by medium or large organizations in many parts of the world. Budgeting systems transform managers’ perspectives towards organisational effectiveness. A forward-looking perspective enables managers to be in a better position to exploit opportunities and circumvent threats – utilising the organisation’s strengths. It also enables them to anticipate risks and take steps to avert them or reduce the enormity of their effect.

At the end of the course, delegates will be able to:

  • Ø Demonstrate an understanding of ‘cost’ as a feature of organisations;
  • Ø Display a heightened understanding of ‘cost’ as a control mechanism;
  • Ø Exhibit a high level of understanding of cost information generation;
  • Ø Illustrate how cost information can be effectively retrieved, analysed and utilised for organisational effectiveness;
  • Ø Strategically analysis the formulation of long-run and short-run budget;
  • Ø Identify the principal factors required to produce a successful business case;
  • Ø Demonstrate their ability to utilise budgeting & financial skills required for better decision-making;
  • Ø Identify sources of financial and business data to support the budgeting process;
  • Ø Demonstrate the use of the appropriate techniques and methodologies to simulate typical business scenarios;
  • Ø Use Information for informed management decisions;
  • Ø Exhibit a heightened understanding of management’s use of management accounting information;
  • Ø Highlight the importance of the role of management accountants in business effectiveness;
  • Ø Distinguish between Basic Cost and Cost Analysis;
  • Ø Demonstrate a heightened understanding of Cost Behavior and Cost Estimation;
  • Ø Outline the Different Approaches to Cost Planning, employing traditional and advanced techniques;
  • Ø Effectively utilise Cost Planning and Budgeting in business functions;
  • Ø Create and operationalised a Master budget;
  • Ø Demonstrate the value of Zero base budgeting in an Organisation’s budgetary function;
  • Ø Demonstrate a high level of understanding of the concept of Activity based budgeting;
  • Ø Demonstrate a high-level grasp of the concept of rolling budget;
  • Ø Execute the Decision-Making process with Relevance Costs and a Strategic Emphasis;
  • Ø Follow the step-by-step budgeting procedures;
  • Ø Identify budget deficiencies;
  • Ø Prepare a correct budget report;
  • Ø Determine the variances which are required to be reported;
  • Ø Demonstrate a heightened understanding in reporting variances and controlled budgeting.

We offer very attractive discount for groups of 3 and more people, from the same organisation, taking the same course. This discount is between ten percent (10%) and thirty three percent (33%), depending on the group size. Even with these discounts, we can also deliver courses for groups in the country of your choice.

Please feel welcome to contact me, at any time. My e-mail addresses are: fria@hrodc.com; and fria.hrodc@outlook.com

My Direct telephone number is +442071935906

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