Course 0070: Budgeting and Cost Control for Managers (4 days)

Course introduction

Organisations, both in the private and public sector need to ensure that their budget processes are aligned with

their strategic goals and encourage the right behaviours throughout the organisation. Decision makers within

organisations need to be able to manage their budgets, understand the financial consequences of their decisions

and rely upon and understand the costing information presented to them. This interactive 4-day programme will

enable managers in the private and public sector to understand and apply a range of techniques underpinning

budgetary planning and cost control. These techniques will support the effective management of organisations via

preparing realistic budgets aligned to organisational goals and managing performance against budget.

At the end of this seminar participants will be able to:

Develop budgets to achieve organisational goals

Select an appropriate budget model for their organisation

Determine the impact of cost behaviours on their budgets

Take key decisions on budgeting for capital assets

Drive appropriate overhead behaviour

Maintain strategic cost control, with advanced tool sets

Manage constrained resource and apply ABC & lean techniques

Manage internal service levels, apply the input output model

Topics

Strategic planning, budgeting and cost control

Introduction & objectives

Principles of effective budgeting & cost control risk

Elements of strategic plans

Outcomes, outputs, processes and inputs

Assessing the financial consequences of strategic choices

The role of budgets

Course 0070: Budgeting and Cost Control for Managers (4 days)

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Linking plans to budgets

The budget setting and monitoring process

Budgeting

Budgeting methods

Cash vs. accruals budgeting

Types of budgets (incremental, zero-based etc.)

Devolving budgets, pros and cons

Setting budget responsibility centres and targets

Managing budget behaviours

Capital budgeting

Net present value and other investment appraisal tools

Reporting performance against budget

Cost control

Cost behaviours (fixed, variable etc.)

Direct and indirect costs

Controllable and uncontrollable costs

Cost allocation and control methods

Managing and costing constrained resources

Overhead absorption rates

Activity based costing

Variances and interpretation of financial performance

Cost management and reduction tools

Balanced scorecard

Lean techniques

Six-Sigma

Value based management

Pros and cons of internal service level agreements

10 steps to continuous improvement culture

Establishing and managing a culture of cost control

Teaching method

Group live instruction and illustrative examples

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Review & interpretation of financial information to illustrate key points

Interactive participation will be encouraged

All participants will receive a comprehensive binder containing copies of the presentation slides, handouts

and other course materials

Prerequisites

Some appreciation of financial information will be useful on this course.

Course benefits

To understand the planning process from beginning to end and how to develop the budget

To understand the relationship between costs ,financial planning, budgeting and integration of the strategic

management process

To provide understanding of how to prepare a financial plan that reflects the strategic goals of an organization

To develop budgets which support organisation plans and objectives

To discuss some of the problems associated with cost control along with “best practices”

To show you how to motivate managers and other to “buy in” to the budget process

To be able to work with third parties on management of service level agreements

Who should attend?

This 4 day cost control for managers training course is ideal for senior managers who are involved in business

planning and budgeting or managers who control cost and budgeting for their departments or organizations or who

are currently managing projects and/or contracts.

CPE / CPD Accreditation

NASBAIASeminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of

continuing professional education on the National Registry of CPE Sponsors . State boards of accountancy have

final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors

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may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

Field of study: Accounting

ICAEW Partner in LearningIASeminars is proud to have been named as an ICAEW Partner in Learning, working together to offer the ICAEW

IFRS Certificate to our clients worldwide. ICAEW (The Institute of Chartered Accountants in England and Wales) is a

world leading professional membership organisation that promotes, develops and supports over 145,000

chartered accountants worldwide. CPE certificates obtained from attending IASeminars courses are an ideal way

for ICAEW members and others to demonstrate their continuing professional development, provided that the topic

is relevant to their learning and development needs.

Texas State Board of Public AccountancyIASeminars is registered with the Texas State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID is:

009689. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.

In House

To bring this course in-house please contact us and we will be pleased to assist

Course 0070: Budgeting and Cost Control for Managers (4 days)

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