Effective Budgeting and Cost Control|Online

Effective Budgeting and Cost Control - Virtual Learning

Why Attend

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 make long-term and short-term planning decisions.

Course 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

Note

This course is worth 25 NASBA CPEs

Planning and the Functions of Management
- The critical functions of management
- Budget as a planning tool
- Control: The missing link
- Roadmap to strategy
- Aligning the budget with the organization’s strategy
- Planning pitfalls
The Key Financial Statements
- The accounting system
- The income statement
- The balance sheet
- Retained earnings
- The cash flow statement
Budgeting: Process and Approaches
- The advantages of budgeting
- The budget process
- Rolling budgets
- Direct and indirect costs
- The master budget
- Operating and capital budgets
- Approaches to budgeting:
  - Incremental budgeting
  - Zero-based budgeting
  - Flexible budgeting
  - Kaizen budgeting and continuous improvement
  - Activity-based budgeting
- Tools of forecasting
- Characteristics of an adequate 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
  - Taking the corrective action
Capital Expenditure Budgeting and Analysis
- Time value of money
- The discount rate: Using cost of capital
- Simple versus compound interest
- Identifying and analyzing cash flows
- 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)
- Defining fixed costs
- Defining variable costs
- Breakeven point in units
- Breakeven point in dollars
- Computing breakeven point in sales
- Sensitivity analysis: Changing assumptions

2025 Schedule & Fees

Fees

Per participant

USD 3550

Fees + VAT as applicable

Discount Plans & Cancellations Policy

Location & Date

25 - 29 May, 2025

Arabic

Virtual Learning

24 - 28 Aug, 2025

English

Virtual Learning

Meirc reserves the right to alter dates, content, venue, trainer, and to offer courses in an integrated virtual learning (IVL) format whereby face to face classroom participants and virtual learners participate simultaneously in the same course in an interactive learning experience.

Tax Registration Number: 100239834300003

This course is also offered in face-to-face courses, click on the course below.

Effective Budgeting and Cost Control

25 - 29 May, 2025

Arabic

Dubai

Effective Budgeting and Cost Control

24 - 28 Aug, 2025

English

Dubai

Effective Budgeting and Cost Control

28 Sep - 2 Oct, 2025

Arabic

Cairo

Effective Budgeting and Cost Control

2 - 6 Nov, 2025

Arabic

Dubai

Effective Budgeting and Cost Control

7 - 11 Dec, 2025

English

Dubai

Overview

Course 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

Note

This course is worth 25 NASBA CPEs

Course Outline

Planning and the Functions of Management
- The critical functions of management
- Budget as a planning tool
- Control: The missing link
- Roadmap to strategy
- Aligning the budget with the organization’s strategy
- Planning pitfalls
The Key Financial Statements
- The accounting system
- The income statement
- The balance sheet
- Retained earnings
- The cash flow statement
Budgeting: Process and Approaches
- The advantages of budgeting
- The budget process
- Rolling budgets
- Direct and indirect costs
- The master budget
- Operating and capital budgets
- Approaches to budgeting:
  - Incremental budgeting
  - Zero-based budgeting
  - Flexible budgeting
  - Kaizen budgeting and continuous improvement
  - Activity-based budgeting
- Tools of forecasting
- Characteristics of an adequate 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
  - Taking the corrective action
Capital Expenditure Budgeting and Analysis
- Time value of money
- The discount rate: Using cost of capital
- Simple versus compound interest
- Identifying and analyzing cash flows
- 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)
- Defining fixed costs
- Defining variable costs
- Breakeven point in units
- Breakeven point in dollars
- Computing breakeven point in sales
- Sensitivity analysis: Changing assumptions