Effective Budgeting and Cost Control
This program is designed for All managers, supervisors and analysts who prepare and/or use management budgets. This program is worth 25 NASBA CPE?s.
See how the budget relates to the two key financial statements: balance sheet and income statement.
Prepare a budget consistent with the organization?s strategic plan.
Use appropriate estimation techniques in the development of revenue and expense budgets.
Identify all the appropriate costs to be included in a capital expenditure proposal.
Analyze management cost reports and take corrective action.
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Principles of Budgeting and Cost Control
The Critical Functions of Management
The Budget as a Key Financial Statement
Linking the Tactical Budget to Strategic Objectives
The Strategic Planning Process
The Budget as a Plan
Types of Budgets
Master Budget
Operating and Capital Budgets
Financial Budgets
Approaches to Budgeting
Incremental Budgeting
Zero-Based Budgeting
Fixed Budgeting
Flexible Budgeting
Kaizen Budgeting
Budgeting and Costing Techniques
Forecasting Methods
Break-even Analysis
Use of Standards
Trend Analysis
Cost Estimation
Characteristics of an Effective Budget
Project Budgeting
Project Planning
Direct and Indirect Project Costs
Capital Expenditure Budgeting and Analysis
Pay-back Period
Net Present Value
Internal Rate of Return
Approval for Expenditure AFE
Cost Control and Management Budget Reports
Budget as a Control Tool
Approaches to Cost Control
Understanding the Need for Timeliness and Precision
Variance Analysis
Problems in Budgeting
