Training Effective budgeting and cost control : planning and controlling

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www.informasitraining-indonesia.com
www.jadwaltraining.co.id
“ Effective Budgeting and Cost Control : Planning &
Controlling”

Effective Budgeting and Cost Control : Planning &
Controlling
COURSE DESCRIPTION
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.
Understanding and interpreting financial information is essential for all levels of personnel,
both within and outside the finance function, if they are to properly contribute to the
success of the business.
Objectives
 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
 Understand the basic areas of accounting and finance, the terminology and the structure
 Learn a range of practical analytical skills for interpreting and handling financial information
 Understand the key elements of accounting in the context of a practical working
environment
 Be more confident about dealing with financial information, particularly when reviewing
other companies’ financial data
 Be able to read and interpret information presented in financial reports
 Enhance their decision-making skills on financial matters

PARTICIPANT
 Interpreting financial statements
 Planning and budgeting
 Cost control
 Capital budgeting
 Applying cost-volume-profit analysis
 Utilizing breakeven analysis
 Both financial and non-financial professionals at all levels
 Delegates with a financial background will enjoy the opportunity to broaden their
knowledge base in aspects of budgeting and cost control that may not be part of their
current responsibilities or experience
 By participation in this course, participants whose background is not in the financial sector
will gain an understanding of both the strategic and the technical aspects of budgeting and
cost control involving both the financial and the operational opportunities for performance
improvement
 At the conclusion of the course all delegates will gain a strong understanding of the
practicalities; techniques and strategies of budgeting and cost control that will both enhance
their effectiveness and contribution in their current role and their career opportunities
based on the skills and insights acquired
COURSE OUTLINE
Planning and the functions of management
 The critical functions of management
 Aligning the budget with the strategy of the organization
 Road map to strategy
 Budget as a planning tool
 Control: the missing link
 Planning pitfalls
The key financial statements
 The accounting system
 The income statement
 The balance sheet

 The cash flow statement
Budgeting: process and approaches
 The advantages of budgeting
 The budget process
 Rolling budgets
 The master budget
 Operating and capital budgets
 The budgeted financial statements
 Approaches to budgeting:
 Incremental budgeting
 Zero based budgeting
 Flexible budgeting
 Kaizen budgeting and continuous improvement
 Activity based budgeting
 Tools of forecasting
 Direct and indirect costs
 Characteristics of an effective budget
 Problems in budgeting
Cost control
 Budget as a control tool
 The control process
 Characteristics of an effective control system
 Responsibility reporting
 Variance analysis: identifying the components of variance
 Variance analysis: taking the corrective action
Capital expenditure budgeting and analysis
 Time value of money

 Simple versus compound interest
 Identifying and analyzing cash flows
 The discount rate: using cost of capital
 Net Present Value (NPV)
 Internal Rate of Return (IRR)
 Profitability Index (PI)
 Pay-Back Period (PBP)
 Accounting Rate of Return (ARR)
 Approval for Expenditure (AFE)
 Sensitivity and risk analysis
Cost-Volume-Profit analysis (CVP)
 Identifying the fixed costs and variable costs
 Computing breakeven point in units
 Computing breakeven point in sales
 Assumptions of CVP analysis
 Using CVP in budgeting decisions
Understanding different types of Financial Information
 Who uses financial information and why?
 The flow of information in a company
 Distinguishing different types of information and what it is derived from
 Basic accounting terminology explained
 Reporting formats
The Cash Cycle
 Cash versus profit
 The flow of money in and out of a company
 How this is managed and controlled
 Customers & Suppliers: The collection and payment processes

 Where finance comes from
 Basic cash flow statements
Inventory and Fixed Assets
 How we establish the value of a companies’ inventory
 Different methods of valuation
 How fixed assets are recorded
 Asset lives and depreciation
 The physical verification of assets
Financial Statements
 Understanding the composition of the Profit and Loss Account
 Computing profitability ratios
 The Balance Sheet explained
 Using financial ratios
 Interpreting results and making comparisons between companies
Costing and Budgeting
 How we classify costs and set standards
 Different costing methods used in business
 Basic forecasting techniques
 Preparing a departmental budget
 Comparing actual performance with the budget
FACILITIES
 Certificate, Quality Training Kit (Pencil case: Erase, Bolpoint, Pencil, Tipe X, Stabillo,
Flash Disk 8 GB.
 Bag (Public Training)
 Training Material (Hand Out & Soft Copy)
 Convenient training facilities in stars hotel (Public Training)
 Lunch 1 and Coffee Break 2 / Day (Public Training)
 Souvenir.

VENUE & COST TRAINING
Bali (Ibis Hotel Kuta)
 Biaya pelatihan sebesar USD 700,- / Peserta (Belum termasuk Akomodasi)
 Apabila perusahaan / Instansi mengirimkan minimal 5 peserta, akan mendapatkan
potongan biaya training menjadi USD 600,- / Orang (Belum termasuk Akomodasi)
 Apabila dalam perusahaan / Instansi mengirimkan minimal 10 peserta, akan
mendapatkan potongan biaya training menjadi USD 520,- / peserta (Belum termasuk
Akomodasi)
TRAINING METHOD
 Group Discussions
 Group & Individual Exercises
 Presentations
 Games
 Case Studies
 Role Plays
 Self-Assessment
 Action Plan
INSTRUCTOR TRAINING
Dewi Kusuma W, SE, S.Psi, M.Sc., Ak., CA / Teams
TIME AND DATE
08.30 Am – 16.00 Pm
29 April - 07 May 2019

Training Effective budgeting and cost control : planning and controlling

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