Budgeting, Financial Planning & Cost Control

DESCRIPTION Planning, budgeting and cost control are critical processes for the effective management of modern corporations. Once companies’ Mission, Vision, Goals and Objectives have been identified planning, budgeting and cost control became essential components of strategy execution. This seminar is designed to enable delegates to understand the connections that operate within the management system and explore the key concepts, tools and practices. Significantly, the linkages between the financial and operational sides of the business are also likely to have an impact on the management of risks and measurement of performances. Major highlights of the seminar include:

• Understanding the management systems, as well as the financial and operating plan
• Develop proper system of cost analysis for budgeting purposes
• Master the budgeting and financial skills required for better decision-making
• Identify sources of financial and operational data to support the budgeting process
• Learn new best practices to integrated financial and non-financial performance measurement

  OBJECTIVE The benefit after completing this course the participants will have a better knowledge & skills on Enterprise Financial Planning, Budgeting & Cost Control Management WHO SHOULD ATTEND

• Non-financial and financial personnel
• Managers and those with financial responsibilities
• Decision makers, whose understanding and skills will improve through attendance
• Professionals acting upon the financial decisions of others, who will gain an appreciation for decision making
• Any professional, irrespective of the organizational position, willing to improve awareness on planning, budgeting and cost control

  OUTLINE 1. Strategic Planning and The Management Systems

• Strategic Planning within the context of the company’s management system
• The Objective of the Firm – meeting Shareholder & Stakeholders Objectives
• The key contents of the Strategic Plan
• SWOT analysis
• Linking strategy to operations
• What is happening in your company? 

2. Preparing & Managing Budgets to Support the Financial Plans

• The Financial Statements – key concepts and documents
• Definition of Budgets
• The Budgetary Process
• Types of Budgets (Fixed, Flexible, Incremental, Zero Based, Activity Based Budgets)
• The Purpose/Benefits & Problems/Limitations of Budgets
• The role of variance analysis 

3. Controlling Costs and Resource Expenses

• Cost analysis and control
• Key cost terms and concepts
• Cost behavior – fixed and variable costs
• Break Even Analysis and contribution analysis
• Cost allocation – direct and indirect costs
• Activity Based Budgeting/Costing (ABB, ABC) 

4. Capital Budgeting

• Capitalized vs. period costs
• Capital budgeting
• Payback period
• Net-present value
• Internal rate of return
• What is it the situation in your organization? 

5. Integrated Financial & Non-Financial Risk Management

• Integrated Risk Management
• Types of Risk – Financial and non-Financial
• Identifying Risk – SWOT Analysis
• What is the situation in your company?
• The Risk Management process
• Linking risk management to planning, performance measurement and reporting

TRAINING METHOD Presentation Discussion Case Study Evaluation   FACILITY Training Kit Handout Certificate Lunch + 2x Coffee Break Souvenir Pick Up Participant (Yogyakarta)