Budgeting and Cost Control for Managers (4 days)
Organisations, both in the private and public sector need to ensure that their budget processes are aligned with their strategic goals and encourage the right behaviours throughout the organisation. Decision makers within organisations need to be able to manage their budgets, understand the financial consequences of their decisions and rely upon and understand the costing information presented to them. This interactive 4-day programme will enable managers in the private and public sector to understand and apply a range of techniques underpinning budgetary planning and cost control. These techniques will support the effective management of organisations via preparing realistic budgets aligned to organisational goals and managing performance against budget.
At the end of this seminar participants will be able to:
- Develop budgets to achieve organisational goals
- Select an appropriate budget model for their organisation
- Determine the impact of cost behaviours on their budgets
- Take key decisions on budgeting for capital assets
- Drive appropriate overhead behaviour
- Maintain strategic cost control, with advanced tool sets
- Manage constrained resource and apply ABC & lean techniques
- Manage internal service levels, apply the input output model
- Strategic planning, budgeting and cost control
- Introduction & objectives
- Principles of effective budgeting & cost control risk
- Elements of strategic plans
- Outcomes, outputs, processes and inputs
- Assessing the financial consequences of strategic choices
- The role of budgets
- Linking plans to budgets
- The budget setting and monitoring process
- Budgeting methods
- Cash vs. accruals budgeting
- Types of budgets (incremental, zero-based etc.)
- Devolving budgets, pros and cons
- Setting budget responsibility centres and targets
- Managing budget behaviours
- Capital budgeting
- Net present value and other investment appraisal tools
- Reporting performance against budget
- Cost control
- Cost behaviours (fixed, variable etc.)
- Direct and indirect costs
- Controllable and uncontrollable costs
- Cost allocation and control methods
- Managing and costing constrained resources
- Overhead absorption rates
- Activity based costing
- Variances and interpretation of financial performance
- Cost management and reduction tools
- Balanced scorecard
- Lean techniques
- Value based management
- Pros and cons of internal service level agreements
- 10 steps to continuous improvement culture
- Establishing and managing a culture of cost control
- Group live instruction and illustrative examples
- Review & interpretation of financial information to illustrate key points
- Interactive participation will be encouraged
- All participants will receive a comprehensive binder containing copies of the presentation slides, handouts and other course materials
Some appreciation of financial information will be useful on this course.
- To understand the planning process from beginning to end and how to develop the budget
- To understand the relationship between costs ,financial planning, budgeting and integration of the strategic management process
- To provide understanding of how to prepare a financial plan that reflects the strategic goals of an organization
- To develop budgets which support organisation plans and objectives
- To discuss some of the problems associated with cost control along with “best practices”
- To show you how to motivate managers and other to “buy in” to the budget process
- To be able to work with third parties on management of service level agreements
Who should attend?
This 4 day cost control for managers training course is ideal for senior managers who are involved in business planning and budgeting or managers who control cost and budgeting for their departments or organizations or who are currently managing projects and/or contracts.
CPE / CPD Accreditation
IASeminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
Field of study: Accounting
ICAEW Partner in Learning
IASeminars is proud to have been named as an ICAEW Partner in Learning, working together to offer the ICAEW IFRS Certificate to our clients worldwide. ICAEW (The Institute of Chartered Accountants in England and Wales) is a world leading professional membership organisation that promotes, develops and supports over 145,000 chartered accountants worldwide. CPE certificates obtained from attending IASeminars courses are an ideal way for ICAEW members and others to demonstrate their continuing professional development, provided that the topic is relevant to their learning and development needs.
Texas State Board of Public Accountancy
IASeminars is registered with the Texas State Board of Public Accountancy as a CPE sponsor. Our CPE Sponsor ID is: 009689. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program.
- Our London seminars take place in 4 star professional conference facilities, generally in city-centre hotels like the Marriott, Sheraton or Hilton brands. Detailed Joining Instructions are sent to all registered delegates by email approximately one month before the event. The Joining Instructions will confirm exact venue details and nearby (or onsite) hotel recommendations with bedroom rates where available. Coffee and lunch will be provided.
Kevin Appleby (United Kingdom) is a highly experienced consultant, coach and trainer with a strong track record in client delivery. He is a Chartered Accountant and brings with him a highly analytical approach. His key strength is in creating and maintaining strong relationships with clients that are based on trust and high quality delivery.
He has acted as programme director on engagements across both the public and private sectors and specializes in the topics of planning and budgeting, cost reduction, and KPI / Balanced Scorecard reporting.
Kevin is co-host of leading UK business podcast “The Next 100 Days”.
To bring this course in-house please contact us and we will be pleased to assist