Outcomes
By the end of this training course, trainees will be able to :
- Apply the basic skills that are required to implement planning and forecasting process.
- Identify the significance of budgeting as a planning and control tool .
- Identify the concept of budgeting, its stages and cost control .
- Evaluate and forecast the financial performance .
Target Group
- Accountants and senior accountants.
Contents
- The objectives of Strategic planning, budgeting and control .
- The estimated financial data .
- Essentials for effective budgeting .
- The master budget, sales budget, production budget.
- Practical cases .
- Direct materials budget, direct labor budget, MO budget and selling & administrative budget .
- Budgeted income statement.
- Cash budget.
- Budgeted balance sheet.
- Control by budgeting.
- Static & flexible budgets.
- Controllable vs Non-controllable revenues and costs.
- Types of responsibility centers.
- Pricing (in brief).
- Time value of money.
- PV in capital budgeting situations.
- Challenge exercises.
- Comprehensive cases on Budgeting.
- Practical cases and challenge exersises.