Organization: Risalat Consultants International
Registration deadline: 04 Feb 2016
Starting date: 16 Feb 2016
Ending date: 18 Feb 2016
Program Introduction
Budget Preparation Skills is a comprehensive program that focuses on the essential skills required to understand the processes of costing and budgeting within organizations. The program is designed to address all the relevant issues concerning cost analysis, budget preparation and performance measurement. This seminar is a must for all professionals who need to master their budgeting skills by learning how costs behave so that realistic business plans can be produced.
The seminar enables participants to:
- Identify the key factors required to understand business processes
- Develop proper system of cost analysis for budgeting purposes
- Master the budgeting and financial skills required for better decision-making
- Identify sources of financial and operational data to support the budgeting process
- Learn new best practices to manage organizational performance
Program Attendees
- 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 have understanding of budgeting and costing
Learn costing and budgeting terminology used in business
Understand the importance of a well-defined costing and budgeting process
Determine full costs of outputs for the goods and services provided
Master traditional techniques and recent best practices
Link finance and operation for budgeting purposes and strategy execution
Learn how to build a comprehensive performance measurement system
Program Contents
Day 1
Budgeting and Its Role Within the Management Process
- The role of budgeting within management accounting
- Linking costing and budgeting to strategy and performance measurement
- The process of value creation: implications for budgeting
- What is a budget and why costing is fundamental
- Budgets – the financial expression of the operating plan
- Linking financial and operational issues
Day 2
Costs Analysis for Budgetary Purposes
- Costing for budgeting: Why?
- Cost terms and purposes
- Fixed and variable costs
- Direct and indirect cost – the allocation problem
- Traditional methods versus activity based costing (ABC)
- Is budgeting enough?
- Integrate continuous improvement into variance analysis
Day 3
The Framework for Budgeting
- Elements of the budgeting framework
- Key concepts and terminology
- Advantages and disadvantages: critical issues to be discussed
- Overview of the financial statements
- Introducing cost analysis for decision-making
- The importance of understanding full costs
- Budgeting for management control purposes
- Describe the difference between a fixed budget and a flexed budget
Program Methodology
The seminar will be conducted along workshop principles with formal lectures, case studies and interactive worked examples. Relevant case studies will be provided to illustrate the application of each tool in an operations environment. Each learning point will be reinforced with practical exercises. Difficult mathematical concepts are minimized and handled in a visual way that is easy to understand with examples demonstrated. be
How to register:
Registration Information
Program Dates: 16 – 18 February, 2016
Registration Closes on: 4th February, 2016
Program Fee: $800
Fee Covers: Participant visa, Assessments, Program Venue, Lunch & Refreshments, Workshop Kit, Program Materials and Certificate of Completion.
Online Payment via PayPal
Registration Assistance: trainings@risalatconsultants.com or *risalatconsultants@gmail.com*
Skype: risalatconsultantsint
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