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Strategic Planning, Effective Budgeting & Cost Control

Euromoney Learning
Training overview
5 days
Classroom / Public

Course description

Strategic Planning, Effective Budgeting & Cost Control

In today’s data-rich world, 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.

The Strategic Planning, Effective Budgeting & Cost Control course will teach you the latest techniques and best practices in the planning, control, and budgeting cycle, providing a useful and engaging forum to explore and share new with other participants. By the end of the course, you will know how to implement a more focused budgeting process that communicates useful and timely information to management.

Why should you attend this course?

  • 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
  • Leverage emerging technologies for delivering operational excellence

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Training Content

This course covers topics such as: 

  • Introduction to planning and control
  • Budgeting overview
  • Behavioral aspects of budgeting
  • Understanding cost behaviour
  • Flexible budgets and standard cost systems
  • Developing an annual/master budget
  • Conceptual aspects of budgeting
  • Resource allocation
  • Activity-based management and activity-based costing
  • Controlling Costs: Economy, Efficiency & Effectiveness
  • Delivering operational excellence

Methodology

The course will provide you with a framework for each topic covered, and incorporates a variety of learning methods, including:

  • Case studies
  • Practical exercises
  • Live group instruction
  • Detailed examples
  • Use of case studies and real world examples
  • Interactive participation

All participants receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials.

About Euromoney Learning

Euromoney Learning

Euromoney Learning

We develop bespoke learning experiences with the perfect blend of technologies and techniques to help you succeed. An organisation’s ability to continuously learn and evolve rapidly is the ultimate competitive advantage. To achieve your strategic goals, it is essential to...


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Contact info

Euromoney Learning

8 Bouverie Street
EC4Y 8AX London

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www.euromoney.com

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