Effective Budgeting & Cost Control

Swissotel The Bosphorus İstanbul

September 21-22, 2019

 

Planning and budgeting are must-have skills for all professionals regardless of their function or managerial level.This course covers the concept of budgeting as a planning tool, a financial device and a control mechanism. In addition, it provides the necessary application tools required to making long-term and short-term planning decisions.

Course Metodology

This course focuses on exercises, case studies, and individual and group presentations.

Course Objectives

  • By the end of the course, participants will be able to:
  • Defend the importance of linking an organization's budget with its strategic plan
  • Demonstrate how the budget relates to the key financial statements: balance sheet, income statement, and cash flow
  • Prepare the key elements of an operating and capital budget and evaluate the different budgeting approaches used
  • Apply cost control tools, analyze management variance reports and take proper corrective action
  • Calculate different capital budgeting evaluation techniques as included in a capital expenditure proposal
  • Utilize cost-volume-profit analysis in making budgeting decisions

 

Target Audience

All managers, supervisors and analysts who prepare or use management budgets.

Target Competencies

  • Interpreting Financial statements
  • Planning and budgeting
  • Cost control
  • Capital budgeting
  • Applying cost-volume-profit analysis
  • Utilizing breakeven analysis

 

Outline

 

  • Introduction and Context
  • Efficiently using excel – preparation for budgeting
  • Excel – Summarization Using Pivot Tables
  • Creating a template for an integrated budget model
  • Building Budget
  • What is a budget?
  • Budgeting fundamentals
  • The Stages of Budgeting
  • Types of Plans & Planning Cycle
  • Benefits of Budget
  • Limitations of Budget
  • Features of A Sound Budgetary System
  • The Budgeting Process
  • Master Budget & Outputs
  • Operating Budgets
  • Sales Budget
  • Production Budget
  • Direct Materials (Purchasing)
  • Direct Labour Budget
  • Overhead Budget
  • Capital Budget
  • Financial Budget
  • Decision Making based on Financial Analysis
  • Business reflected in the Statements
  • What is an integrated budgeting model?
  • What is involved in creating an integrated budget model??
  • Integrated financial budget model – A Schematic Flow Diagram
  • Creating the template for Building Budget
  • Introduction to Income Statement
  • Introduction to Balance Sheet
  • Cash Flow Statement: Basic
  • Operating activities
  • Investing activities
  • Financing activities
  • Cash Flow
  • Cycle of Debit and Credit: Dual Entry System
  • Working of a company – Financial Perspective
  • Building an integrated Budget for a production company over a specific case study
  • Ratio Analysis
  • Variance Analysis
  • Decision Making Analysis

 

 

Venue Details

Swissotel Bosphorus, Visnezade Mah. Acisu Sok. NO. 19 Macka Besiktas Istanbul Turkey

PROGRAM PRICE

Final Price : 4.800 TL+VAT(18%)

Group booking Discounts

2-3 delegates - 10% discount

4-6 delegates - 15% discount

Lunch and coffee breaks are included in the prices.

Certificate of Participation will be given to the participants by IFE İstanbul Institute of Finance

Contact

T:+90 212 322 0444  M :+90 532 238 1730

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+90 212 322 0444 - +90 850 302 0433

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