Effective Planning, Budgeting, Forecasting & Cost Control

PROGRAMME DETAILS:

• Introduction to budgeting, cost estimation & control
• The difference between a target, a budget and a forecast
• Benefits of budgetary control
• Cost estimation and standard
• The concept of contribution
• Relevant costing for decision making
• Cost classification and behaviour
• Budgeting principles and objectives
• Management involvement in budgets and standards
• Cost, profit or investment centres

• Participation in budgeting
• How budgetary tools and techniques are being developed to fit with current business requirements
• Cost-volume-profit analysis
• The budgetary process checklist
• Budgetary slack
• The importance of effective business forecasting
• Applying budgetary and forecasting for greater business benefit
• Linking budgeting and forecasting to the wider disciplines of strategic and operational planning and consequently to performance measurement

• Activity Based Costing (ABC)
• Activity Based Budgeting (ABB)
• Zero-based budgeting techniques (ZBB)
• Budget preparation and Monitoring procedures
• Variance analysis and investigation
• Risk Management and budgeting

• Preparation of cash budget
• Cash flow planning and control
• Distinction between profit and cash
• Interpretation of accounts
• Break-even models
• The published profit and loss account
• Exercise

• Budgeting capital expenditure
• Case study