Advanced Budgeting For Business Enhancement

At the conclusion of the specified learning and development activities, delegates will be able to:
 Demonstrate an understanding of ‘cost’ as a feature of organisations
 Display a heightened understanding of ‘cost’ as a control mechanism
 Exhibit a high level of understanding of cost information generation
 Illustrate how cost information can be effectively retrieved, analysed and utilised for organisational effectiveness
 Strategically analysis the formulation of long-run and short-run budget
 Identify the principal factors required to produce a successful business case
 Demonstrate their ability to utilise budgeting & financial skills required for better decision-making
 Identify sources of financial and business data to support the budgeting process
 Demonstrate the use of the appropriate techniques and methodologies to simulate typical business scenarios
 Use Information for informed management decisions
 Exhibit a heightened understanding of management’s use of management accounting information
 Highlight the importance of the role of management accountants in business effectiveness
 Distinguish between Basic Cost and Cost Analysis
 Demonstrate a heightened understanding of Cost Behavior and Cost Estimation
 Outline the Different Approaches to Cost Planning, employing traditional and advanced techniques
 Effectively utilise Cost Planning and Budgeting in business functions
 Create and operationalised a Master budget
 Demonstrate the value of Zero base budgeting in an Organisation’s budgetary function
 Activity based budgeting
 Demonstrate a high-level grasp of the concept of rolling budget
 Execute the Decision-Making process with Relevance Costs and a Strategic Emphasis

METHODOLOGY EMPLOYED

Using a combination of lectures and group exercises, the delegates will gain both a theoretical and practical knowledge of the topics covered. The emphasis is on the practical application of the topics and as a result delegates will return to the workplace with both the ability and the confidence to apply the techniques learned.

PROGRAMME OUTLINE

Day 1 - Introduction To Cost, Cost Information and Review of Key Cost Concepts
 An introduction to cost terms and usage
 Review of some key cost concepts
 Cost information
 Cost Information Generation
 Cost Information Retrieval
 Cost Information Processing
 Cost Information Analysis and Interpretation
 Using cost information to enhance organisational effectiveness
 Costing as an ‘Operational Control Mechanism’

DAY 2 – Planning and Budgetary Control Systems
 Budget, motivation and responsibility accounting
 The use of cost management information
 Creating cost-aware organizations
 Product vs. Period costs
 Direct and Indirect Costs
 Cost behavior: Fixed and Variable Costs
 Budgeting as a Management and Organisational Control System
 Problems and Examples

DAY 3 – Different Approaches to Costing
 Absorption (Full) vs. Variable costing
 Under-costing and over-costing: the consequences for profitability
 How to refine a costing system?
 Activity-based costing (ABC) and cost-management
 Activity Centres
 Cost hierarchy & Cost drivers
 Cost Centres
 Responsibility Centres
 Revenue Centres
 Linking resources, activities and management
 Introducing Activity-based management (ABM)
 Linkages between ABM and ABC – monitoring value creation
 Problems, Case Study and Examples

DAY 4 – Different Approaches to Budgeting
 Fixed and flexed budget (static and flexible budget)
 Rolling budget
 Policy, Planning and Budgeting System (PPBS)
 Zero-base Budgeting
 Activity based budgeting
 Master budget
 From costing to budget: interpreting variances (variance analysis)
 Integrate continuous improvement into variance analysis.
 Measuring yield, mix and quantity effects
 Problems, Case Study and Exercises

DAY 5 – Control Systems and Performance Measurement
 Linking process development to costing
 Financial and non-financial performance measure
 Designing an accounting –based performance measure
 Different performance measures
 Concepts in action: Equifax, AT&T and EVA
 Alternative performance measures
 Choosing targeted levels of performance and timing of feedback
 Distinction between managers and organizational units
 Performance measures at the individual activity level

HRODC Postgraduate Training Institute is a Graduate Institution Registered with the UK Register of Learning Providers (UKRLP), of the Department for Business, Innovation and Skills (BIS), formerly Department for Innovation, Universities and Skills (DIUS). Its Registration Number is: 10019585 and can be Verified at: http://www.ukrlp.co.uk/. It provides Intensive Full-Time Postgraduate Diploma Courses. 3 Months Intensive Full-Time Postgraduate Diploma Courses or 6 Months Full-Time Courses, progressing to MSc, MBA, MA. Intensive Full-Time (3 Months) Courses, and Full-Time (6 Months) Postgraduate Diploma Courses, Progressing to MA, MBA or MSc include: Human Resource Management: A Practitioner’s Approach; Comprehensive Automotive Electrical, Electronic and Mechanical Diagnostic, Maintenance and Repair; Comprehensive Real Estate Management; Executive Management; Communication, Information Gathering, Analysis and Report Writing; Women in Management; Human Resource Training and Development Management; National and International Economic Competitiveness: Towards Economic Growth and Sustainability; Corporate Governance and Strategic Management: Incorporating Corporate Strategy; Business Administration; Cost Accounting, Budgeting, Profitability Analysis, Strategy and Balanced Score Card; Financial Accounting: Theory and Practice; Advanced Islamic and Banking Finance; International Finance and Financial Services; Global Marketing: Local, National and International Marketing Strategic Plan and Implementation; Advanced International Legal Studies; International and National Events Management; Heating, Ventilation and Air-conditioning (HVAC) Engineering; Human Resource Management (HRM) in the International Petroleum – Oil and Gas – Industry; International Petroleum –Oil and Gas – Terminal Services, SAP, Joint Venture, Health, Safety, Human Resource, Organisation and Project Management; Advanced Oil and Gas Accounting: International Petroleum Accounting; Organisational Development and Change Management: Conceptual, Contextual and Analytical Issues; Effective Project Management: Employing HR, Cost, Quality, Procurement, Risk, & Time Management Strategies to Enhance Objectives; Strategising Logistics and Supply Chain Management; Drilling Operation: On-Shore and Deepwater Oil and Gas Drilling Operations, Incorporating Shale Gas Drilling; Intercultural Business Communication: Effective International Business Communication; Computer and Information Systems Communication, Incorporating Microsoft Office Suite Leading to World Trade Organisation, Anti-Dumping, Anti-Subsidy, Sustainability and Environmental Management, Development Economics, and Agricultural Project Management; International Petroleum – Oil and Gas – Operation for Non-Technical Staff: Mineral Rights, Upstream Oil and Gas Mineral Lease Contracts, Exploration, Drilling, Production and Sale, etc.
These Postgraduate Diploma, MSc, MBA, MA Courses are delivered in Dubai United Arab Emirates (UAE), Kuala Lumpur (KL) Malaysia, Caracas, Astana Kazakhstan, Moscow Russia, Baku Azerbaijan, Durban South Africa, Dodoma Tanzania, Nairobi Kenya, Abuja Nigeria, Accra Ghana, Malabo Equatorial Guinea, Luanda Angola, Mumbai India, Karachi Pakistan, Islamabad Pakistan, Lagos Nigeria, Sokoto Nigeria, Ontario Canada, Buenos Aires Argentina; Lima Peru, Brasília Brazil, Quito Ecuador, Panama City Panama, Managua Nicaragua, San Salvador El Salvador, Guatemala City Guatemala, Belize Belize City, San Jose Costa Rica, Tegucigalpa Honduras, London UK, etc. Short Postgraduate Courses and 20-Week Video Enhanced Postgraduate Diploma Courses are also available.

The Video-Enhanced On-Line Postgraduate Diploma Courses is studied in 20 Weeks, in the comfort of students’ homes. In a move away from the traditional on-line courses, and recent technology-mediated distance education, HRODC Postgraduate Training Institute has introduced a Video-Enhanced On-Line delivery. Students: