Budgeting Accounting & Management Reporting

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  • Fees : 2600 $
  • Date 07 Oct 2018
  • Location Abu Dhabi, English
 

Budgeting Accounting & Management Reporting

Course Background:

Competitive organizational strategies and plans are usually based on cost effectiveness and even under buoyant markets are the key to continued success. Profit can be halved by waste of scarce resources and requires continual review to ensure that all in house and departmental costs are accountable and measurable.

How do we plan and execute Budgeting and Cost Controls to optimum accuracy and maintain or review the positive or negative effects??

This program offers a blueprint plan to control and monitor all areas of income and expenditure utilizing Effective Budgeting and Cost Control principles.  

Course Learning Objectives:

This program is designed and focuses on the principles and reasons for cost controls and the budgetary process. It will also bring awareness of cost and cost analysis for organizational expenditures and includes successful budget preparation and implementation.

Course Duration: Five Days

Who Should Attend:

Managers, Supervisors and those who are involved and need to have a complete understanding of Effective Budgetary and Cost Control Systems.

Daily Course Contents:

  • Introduction and Fundamental s of Budgeting & Cost Control (BCC) Functions
  • Introduction and Purpose 
  • Fundamental sand Concepts of BCC
  • Management and Forward Planning Using BCC
  • Coordination of Financial Planning with BCC Tools
  • The Budgeting and Control Processes
  • Timing and Planning of The Process
  • Line and Staff Responsibilities and Input for BCC
  • Planning and Forecasting Perspectives with BCC

Implementation of a Comprehensive Budgeting and Cost Control Systems including Measurement and Feed Back

 

§  Effective Budgeting and Controlling Revenues

  • Overview of Organizational Needs and Production Planning
  • Organizational Needs Forecasting and Planning
  • Management Information Systems (MIS) for Budgeting Purposes and Planning 
  • Materials and Production Budgets
  • Materials Requirements Planning and Coordination
  • Just  – In – Time (JIT) Production Planning
  • The Production Budget as a Planning Coordinating and Control Tool
  • Production Costing
  • Developing and Maintaining Organizational Overheads Budgets
  • Production Quality Costing
  • Budgeting and Apportionment of Distribution & Logistical Expenses
  • Budgeting and Apportionment of Administrational Expenses Associated Cost
  • Budgeting of Expenses in None Manufacturing Entities and Enterprises

 

  • Flexible Expenses Budgets: Concepts Development & Application
  • Concepts of Flexible and Expense Budgets
  • Relationship of Expenses to Output or Productive Activities
  • Methods of Determining and Measuring Cost Variability
  • Use of Flexible Budgets and ‘What If ‘ Situations

 

  • Budgeting and Controlling Capital Expenditure 
  • Characteristics and Reasons for a Capital Expenditure Budget
  • Time Dimensions in a Capital Expenditure Budget
  • Methods of Measuring the Economic Value of  Capital Expenditure
  • Controlling Capital Expenditure

 

  • Budgeting and Controlling Purchases and Materials Usage in Manufacturing and Non Manufacturing Processes
  • Raw Materials and Component Parts Budget plus Value Added
  • Planning, Coordinating and Control Aspects of Raw Materials and Part Budgeting
  • Planning Inventory Levels and Purchasing in a Non Manufacturing Entity or Enterprise

 

  • Budgeting and Controlling Direct Labor Costs 
  • Approaches Used in Direct Labor Costs and Total Absorption
  • Structure of the Direct Labor Budget
  • Control and Monitoring of Direct Labor Costs

 

  • Budgeting and Controlling of Expenses including:

 

Manufacturing Overheads

Production Quality Costs

Distribution, Logistical and Administrative Expenses

  • Cost v's Expenses
  • Cost & Profit
  • Budgeting for Expenses
  • Control of Manufacturing Overheads  
  • Total Absorption Costing
  • Cost Attribution
  • Cost Centre Operations

 

  • Budgeting and Controlling Cash Flows Systems
  • The Focus of and Utilization of Cash Projections and Cash Planning
  • Time Horizon in  Relation to Cash Budgeting and Controls
  • Approaches and Methods for Cash Budget Systems
  • Control of The Cash Position and Values
  • Techniques and Methods of Improving Cash Flows
  • Budgeting and Controlling in a Non Manufacturing Entity or Enterprise

 

  • Completion and Applications of the Successful Profit Plan
  • Collating Information from Sources for the Plan
  • Completion of the Profit Plan
  • Alternatives in Developing a Profit Plan
  • Utilization of the Profit Plan to Control Operations and Production 

 

  • Analysis of Budget Variances
  • Analysing Variances
  • Formats to Systemize Variance Analyses
  • Uses of Variance Analysis

 

  • Budgeting Planning & Execution
  • Preparation
  • Meetings
  • Implementing

 

  • Case Studies
  • Practical Exercises  & Discussions Sessions
  • Summary and Course Evaluation 

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