Code | Date | City | Fees | Register |
---|---|---|---|---|
E025 | March 31, 2024 - April 4, 2024 | Istanbul | $ 5000 |
Register Course.. |
E025 | July 28, 2024 - August 1, 2024 | Dubai – UAE | $ 5000 |
Register Course.. |
E025 | October 1, 2024 - October 3, 2024 | Dubai – UAE | $ 3000 |
Register Course.. |
E025 | January 12, 2025 - January 23, 2025 | Online | $ 3000 |
Register Course.. |
________________________________________________________________________________________________
Objectives
- By the end of this course, participants will be able to:
- Improve your ability to accurately project expenses
- Build a budget that glides through approval channels without a hitch
- Discover steps for measuring actual progress against budget .
- Justify expenditures using the right logic and language
- Critical responses that address and arrest budget variances
- A complete, easy-to-understand glossary of terms dealing with every aspect of your budgeting process
- Checklists, worksheets and formulas that would take years to collect on your own
The ability to forecast profits that will not go unnoticed - Reduce the time you spend gathering data for your budget – quickly identify what you need and where you can get it
- Long run vs. short run: What you need to know about each before you budget
- Learn which items must be figured into your budget whether you’re building one from scratch or working from a pre-approved format
- Work with confidence when the expenses are greater than the revenues .
The Delegates
- Whether you’re developing a budget or implementing one, learning the proven techniques in this workshop will make all the difference in the strength and success of your budget and your career. So, if you’re a:
- Senior personnel
- Supervisor
- Administrator
- Department head
- Key player on any budgeted team
- Purchasing decision-maker
The Contents
- Introduction and course overview.
- What and Why of budgeting :
-
- Budgeting and Reporting Overview: So You Want Perfect Analytics
- Getting started: Budgeting is a communication process
- The key benefits of “good” budgeting and the pitfalls of “bad” budgeting
- Essential elements in planning any viable budget
- Know your organization’s budgeting “environment”
- Putting the pieces together: The budget preparation phase – planning is most of the battle
- Monitoring the approved budget: Do more than just “live with it” … succeed with it!
- Administering a Budget
- Budgets are financial statements: How do we use them effectively. What do they tell you about the past … the future?
- Learn how to use them to pinpoint organizational strengths and weaknesses
- The income statement: What does it measure? What is missing from it?
- The balance sheet budget: a measure of health of your department or organization
- Administering a budget :
-
- The capital budget: The long-term commitment of viability. Just how practical are your plans for expansion, research and development, new personnel, etc.?
- The cash budget: The first line of survival
- Spot the key problems and opportunities every budgeting process uncovers
- Essential Budgeting Tools
- Methodology of effective budgeting
- The budgeting checklist
- Unit-cost budgeting: ideal for operations-oriented environments
- Fixed-cost budgeting: the tool budget-builders reach for most often
- Course Planning and Budgeting: A more strategic look at budgeting
- Review the methods available to address your unique budgeting challenges
- Zero-based budgeting: essential for justifying proposed expenditures from the ground up
- Activity-Based Budgeting (ABB): Fad or Fact?
- Analyzing budget ‘types’
-
- The final plan: sales plan, production plan, purchases budget, Labor budget, Operating expenses, Capital budget
- The sales plan begins with P X Q
- How to prepare a production budget
- Prepare a manufacturing budget including: budgeting for materials, direct labor and overhead
- How to plan and prepare a research and development budget
- Budgeting terms made simple; a glossary of words you’ll use again and again
- Building the budget :
-
- It all begins with sales or revenues
- Where do revenues come from?
- Where do the pieces fit? Capital expense or operating expense?
- Examine capital expenditure requests
- Methods of economically evaluating capital expenditures and projects
- Controlling general and administrative expenses
- Develop unit indicators for budget preparation and control
- Identify overhead and determine proper allocation methods
- Budget Development
- “Cash” versus “accrual” accounting – why are they different?
- What are the “rules” for budgeting and who makes them?
- Use basic accounting technology to properly compare cash inflow to outflow
- Post approval, what steps to undertake after the budget is approved
- Top down or Bottom up? Which one works and why
- Management by Objectives, results that matter
- Budget variances :
-
- Is the alleged variance within your control? What are some factors beyond your control? The right perspective will make the difference
- Learn where to look first for variance factors hardest to find
- How to know when and how your budget is warning you of outside interference
- Tips on how to respond to requests for variance explanations
- Monitoring the Budget
- Monitoring methods such as Management by Exception
- Understand the difference between fixed, variable and semi-variable costs using a simple but effective illustration
- Expect the unexpected: some costs simply can’t be budgeted – recognize them and incorporate them
- Learn and use the unit-cost concept immediately and effectively
- Establish and track monthly targets within your annual budget
- When to “break” the budget
The Discount
10% in case of Three P. (or more)