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Management Accounting Course

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Zero based Budgeting and Cost Control (Virtual Classroom)

Course Details

Code:0077v
Level
Intermediate
CPD
8 Hours
Time
13:00-17:00
Location
Virtual Classroom
Cost
£950.00
Subject to Online Tax From Web (Read more)
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Introduction

This virtual workshop is part of our series on Business and Accounting Strategies in Uncertain Times.  The series is made up of two Masterclasses, 1: Reshaping Strategy and 2: Implementing Strategy.  Each Masterclass is made up of component modules. You can book a full 5 session class or chose individual modules.

This online management accounting training is being delivered live in 2 individual sessions which run on consecutive days. The sessions will run each day from 13:00 – 17:00 London (UK).

You can learn more about our virtual, online courses and how they work on our course FAQ page. Or view our Virtual Classroom schedule to see what else is being delivered live in our online classrooms. If you don’t see the management accounting training topic, you are looking for, or if you would like an online classroom in another timezone, please tell us.

There’s never been more pressure on your organisation to deliver efficiently and effectively. You need to have control of costs, prioritise the right things and need flexibility to change tactics. As the senior finance leader, you need to be on your toes. You don’t just need to be an expert in accounting, you need to be an expert in business change too. You need to help and guide your fellow managers to spend wisely. In this two-session course we go beyond budgeting to more effective and agile ways of managing cost.

The course comprises two interactive online workshops designed to give you practical skills in zero based budgeting, and cost management you can implement directly in your own organisation. The workshops allow you the opportunity to try out techniques in a safe environment so that you can adapt and use them for the specific circumstances in your own organisation.

We consider how to move beyond budgets to provide an agile financial management system that is focussed on delivering the business strategy. When it comes to cost management no one tool is ever right for all circumstances so we look at a variety of tools to you can use to maintain a financially efficient and effective organisation, and a guide to when it is most appropriate to use each one. We also look at what happens when a business has a challenge to make a step change in its cost base and give a range of ways the finance business partner can help his team to take cost out of the organisation.

At the end of this seminar you will:

  • Have practical methods you can take back to your business
  • Be equipped to run workshops with your business to develop Zero based budgets and to develop rolling forecasts
  • Have learned to use a variety of tools that will allow you to manage and control cost

Learning Objectives

  • To understand how to work with your management team to develop better financial targets to measure performance
  • To understand the different tools and techniques available to you to control and remove cost from your organisation
  • To understand the practical tools and techniques that are available to help you, and to get practical hands on experience of using them in a safe environment

Who Should Attend

The course is aimed at the business finance manager. You are likely to:

  • Have responsibility for developing plans and budgets and reporting business results to your management team
  • Be the no 1 or no 2 in your finance team, providing financial advice and decision support to the rest of the business

Topics

  • Day 1 - ZBB
    • The concept of Zero-Based Management
    • How to take out the costs that are not in the business plan
    • Driving change through ZBB
    • Why traditional budgeting doesn’t work
    • How to build a Zero Based Budget
  • Day 2 – Taking Cost Out of the Organisation
    • Understanding what drives cost
    • Introduction to Lean & continuous improvement
    • Sharing services
    • Running a cost reduction exercise

Teaching Method

  • Group live instruction and illustrative examples
  • Practical workshop exercises using the tools and techniques we teach to build targets and reduce cost in a fictitious business that faces many of the issues you will encounter in the real world.
  • All participants receive comprehensive electronic course notes, including presentation slides, handouts and other course materials
  • This virtual training is being delivered live and online over 2 individual sessions, each of 4 hours’ duration. They will run each day from 13:00 – 17:00 London (UK)

Instructors

The instructor for this course will be drawn from one of our core faculty of subject matter experts. Further details will be published at the earliest opportunity.

Venue

Our 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.

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

Prerequisites

A grounding in financial management information will be useful on this course.