Strategic Planning, Effective Budgeting & Cost Control

1 June to 12 June

Today, the human mind is often absorbed in so much data, that it has difficulty processing the multitude of facts and relationships simultaneously and sometimes forgets important elements. Thus, as plans become more and more intricate, they should be documented in writing and include qualitative narratives of goals, objectives, and means of accomplishing the objectives.

This course will allow the participant to explore and share with other participants new thoughts in the planning, control, and budgeting cycle, resulting in a renewed energy in returning to the workplace and implementing a more focused budgeting process, which communicates useful and timely information to management.

Target Audience: 
  • Those with management experience in industry or public practice
  • Those with management responsibility in finance, operations or planning
  • Those with experience in finance, operations or accounting
  • Owners, CFOs, controllers, financial officers and budget managers
  • Accountants and internal auditors in middle and upper management positions as wel as public practitioners responsible for the any of the following areas: planning, budgeting, performance, productivity and profitability of their organizations
Course Outcomes: 
  • Acquire best practices in budgeting
  • Understand the strategic role of cost concepts
  • Explain the costs concepts to the use of cost information for management control
  • Describe the role of budgets in the management process
  • Discuss the importance of strategy and its role in the master budget
  • Prepare a master budget and explain the interrelationships among its supporting schedule
  • Understand zero-base, activity based, and kaizen approaches to budgeting
  • Explain the essence of control systems
  • Develop flexible budgets for evaluating short-term financial performance
  • Identify different cost control measures
  • Measure and evaluate performance