Effective Budgeting and Cost Control

Methodology

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 balance sheet, income statement, and cash flow statement

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