Program Objectives:

By the end of the program, participants will be able to:
* See how the budget relates to the key financial statements: balance sheet, income statement, and cash flows.
* Prepare a budget consistent with the organization’s strategic plan.
* Use appropriate estimation techniques in the development of revenue and expense budgets.
* Identify all the appropriate costs to be included in a capital expenditure proposal.
* Analyze management cost reports and take corrective action.

This Program is designed for:
All managers, supervisors and analysts who prepare and/or use management budgets. This program is worth 25 NASBA CPEs.

Program Fees:
Per participant - USD 3700
Frequent nomination - USD 3330
(including coffee breaks and a buffet lunch daily)
One extra free place for every 2 paid nominees on the same program and dates
Discount Plans, Refunds & Cancellations Policy

Meirc reserves the right to alter dates, content, venue and trainer with a reasonable notice time.

Program Outline:

Principles of Budgeting and Cost Control
* The Critical Functions of Management
* Is Control the Missing Link?

Linking the Tactical Budget to Strategic Objectives
* The Strategic Planning Process and the Budget as a Plan
* Aligning the Budget with the Organization’s Strategy

Types of Budgets
* Master Budget, Operating and Capital Budgets
* Financial Budgets

Approaches to Budgeting
* Incremental Budgeting
* Zero-Based Budgeting
* Fixed Budgeting and Flexible Budgeting
* Kaizen Budgeting

Budgeting and Costing Techniques
* Forecasting Methods
* Break-Even Analysis
* Use of Standards
* Trend Analysis and Cost Estimation
* Characteristics of an Effective Budget

Project Budgeting
* Project Planning
* Direct and Indirect Project Costs

Capital Expenditure Budgeting and Analysis
* Time Value of Money
* Pay-Back Period (PBP)
* Net Present Value (NPV)
* Internal Rate of Return (IRR)
* Profitability Index (PI)
* Accounting Rate of Return (ARR)
* Approval for Expenditure (AFE)
* Sensitivity and Risk Analysis

Cost Control and Management Budget Reports
* Budget as a Control Tool
* Approaches to Cost Control
* Understanding the Need for Timeliness and Precision
* Variance Analysis
* Problems in Budgeting

Pre-requisites
None

Delivery Type
Group-Live