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An Intensive 5-Day Training Course

Budgeting & Cost Control


Date Venue Fees CPE Credits

12 - 16 Dec 2021

Dubai

US $ 4,950

30

29 May - 02 Jun 2022

Dubai

US $ 4,950

30

11 - 15 Dec 2022

Dubai

US $ 4,950

30

INTRODUCTION

All business decision making involves analysing situations and assessing alternatives, risks and benefits. This programme offers an opportunity to acquire and then deploy new skills and ideas to achieve improved financial operations and strategies. The knowledge acquired will enhance the budget process and control processes through a variety of strategies and techniques that will provide new insights to how financial performance can be enhanced. 

In this programme you will participate in many aspects of modern thinking:

  • Budgets and Models as a key element of management and financial strategy
  • The analysis of opportunities, risks and rewards in the context of Capital Projects
  • Controlling costs by analysis, modelling, KPI’s and review of the cost drivers
  • Develop a broader view in the context of the enterprise’s objectives and constraints
PROGRAMME OBJECTIVES
  • Understand the importance of a well-defined budget processand create budgets relevant to your organisation
  • Acquire costing and budgeting terminology and techniques
  • Master methods for risk, payback and cost-benefit analysis
  • Learn how to integrate profit, cash and balance sheet plans and budgets
  • Using ‘what-if’ and Stochastic Models to evaluate probable outcomes and ranges of variances and identify key drivers for corrective actions
  • Understand the use of Present Value, IRR and discounted cash flow (DCF) to support investment and financial decision making
WHO SHOULD ATTEND?
  • Both financial and non-financial professionals at all levels
  • Delegates with a financial background will enjoy the opportunity to broaden their knowledge base in aspects of budgeting and cost control that may not be part of their current responsibilities or experience
  • By participation in this course, participants whose background is not in the financial sector will gain an understanding of both the strategic and the technical aspects of budgeting and cost control involving both the financial and the operational opportunities for performance improvement
  • At the conclusion of the course all delegates will gain a strong understanding of the practicalities; techniques and strategies of budgeting and cost control that will both enhance their effectiveness and contribution in their current role and their career opportunities based on the skills and insights acquired
TRAINING METHODOLOGY

You will learn by active participation during the programme through the use of exercises, case studies, practical workshops, syndicate and group discussions.

PROGRAMME SUMMARY

This training session is presented in a manner that will make budgeting, costing and decision making techniques more easily understood by people from every discipline across the organisation. Case studies and practical exercises are used to emphasise key issues and underpin learning by relating them to typical business scenarios.

Delegates will progress through the underlying accounting principles, the application of various techniques to evaluate capital projects and the use of analysis to both understand and manage costs. They will then engage in practical steps to building budgets and conclude by gaining experience in the various developments in organisational and strategic analysis that can enhance the fundamental operational and behavioural aspects of an effective organisation.

PROGRAM OUTLINE
Day 1 - The need for Financial Control in Business
  • Understanding accounting principles and methods
  • Management accounting versus financial accounting
  • The relationship between business management and financial management
  • How budgeting fits into the bigger picture
  • How cost management  improves an organisation’s financial position
  • Key aspects of managing working capital
Day 2 - Capital Budgeting and Investment Appraisal
  • The time value of money
  • Understanding Appraisal Techniques – Net Present Value (NPV), Internal Rate of Return (IRR) and Payback period
  • Probability Models (Monte Carlo), Stress Testsand Value at Risk (VaR)
  • The use of Sensitivity analysis in evaluating projects
  • Strategic  considerations in assessing capital projects
  • Creating an effective Capital Budgeting framework
Day 3 - Cost Analysis and Management
  • Understanding cost structure and behaviour
  • Costs as a relationship to outputs – cost / volume / price relationship
  • The concept of contribution margin
  • Break-even analysis for planning and control
  • Cost allocation and apportionment
  • Benefit-cost analysis
Day 4 - Full Costing, Marginal Costing and Activity Based Costing
  • Comparing full and marginal costing
  • Direct and indirect costs in budgeting for decision making
  • Role of costs in pricing strategies
  • Activity Based Costing (ABC)
  • Managing cost control
Day 5 - Budget Construction and Control
  • Nature and purpose of budgets for planning and control
  • Types of budgets and budgeting
  • Creating Key Performance Indicators for financial and non-financial performance
  • Building a budget
  • Budgetary control and variance analysis
  • Budgeting for non-financial measures -introducing the Balanced Scorecard

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VAT Announcement: The Government of UAE have introduced Value Added Tax (VAT) on goods and services from 01-January-2018. In compliance with the legislation issued by the UAE Government, we will be applying a 5% VAT on the fees for all our programs and services offered from January 2018 as applicable and stipulated in the FTA circulars

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