Advanced Budgeting For Business Enhancement Course

HRODC Postgraduate Training Institute
HRODC Postgraduate Training Institute

Detailed information

Advanced Budgeting for Business Enhancement is a 5-day Course. On successful completion, you will receive a Diploma Postgraduate in Advanced Budgeting.

Courses are delivered in more than 30 international locations including Dubai, Kuala Lumpur, Paris, Milan, Manila, Manama, Jakarta, Doha, Durban, Amsterdam. UK deliveries are usually in Central London and occasionally in Manchester, Birmingham and Wolverhampton.

This Course is Designed for:
*Managers with direct financial responsibilities;
*Cost and Management Accountant;
*Financial Planners and Cost Analysts;
*Senior Managers who supervise people with Financial Responsibilities;
*Managers who need to know more about business planning, budgeting, costing terms and techniques;
*Managers who have to plan, cost and budget new business ventures;
*Mangers and Supervisors from every business discipline and department who have to run departments and plan, cost and budget during their business terms;
*First appointment mangers on fast-track development Programmes;
*Managers who require a refresher programme on the topic.

All long and Short term business decision-making involves analyzing situations containing varying degrees of risk, and the available data might lack integrity, containing ambiguities or outdated information. It is important to understand how costs behave so that realistic plans and budgets can be produced and appropriate financial resources made available.

Planning is crucial step for business success and budgets are one of the most widely used tools for planning and controlling, used by medium or large organisations in many parts of the world. Budgeting systems transform managers perspectives towards organizational effectiveness. A forward-looking perspective enables managers to be in a better position to exploit opportunities and circumvent threats - utilizing the organization's strengths. It also enables them to anticipate risks and take steps to avert them or reduce the enormity of their effect.

Course Objectives
By 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 utilized for organizational effectiveness;
*Strategically analyse the formulation of long-run and short-run budget;
*Identify the principal factors required to produce a successful business case;
*Demonstrate their ability to utilize budgeting and 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 Behaviour and Cost Estimation;
*Outline the Different Approaches to Cost Planning, Employing traditional and Advanced Techniques;
*Effectively utilize Cost Planning and Budgeting in Business Functions;
*Create and Operationalise a Master Budget;
*Demonstrate the value of Zero Based Budgeting in an Organisation's Budgetary Function;
*Learn the concept of Activity Based Budgeting;
*Demonstrate a High Level Grasp of the Concept of Rolling Budget;
*Execute the Decision-Making process with Relevant Costs and a Strategic Emphasis;
*Follow the step-by-step budgeting procedures;
*Identify budget deficiencies;
*Prepare a correct budget report;
*Determine the variances which are required to be reported;
*Learn how to report these variances; and
*Demonstrate an understanding to control budget.
Course code:042
Method:In a classroom
Duration:5 Day
Total hours of lesson:30
Accreditation:HRODC Postgraduate Training Institute is Registered with the UK Register of Learning Providers (UKRLP), of the Department for Business, Innovation and Skills, formerly Department for Innovation, Universities and Skills (DIUS). Its Registration Number is
Requirements:Degree of Work Experience; Completed application form with a passport sized picture affixed to the form and copies of credentials mentioned on the application form.
Students per class:10

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Course program


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.

Part 1 - Cost, Cost Information and Review of Key Cost Concepts
*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’.

Part 2 – Different Approaches to Costing
*Absorption (Full) vs. Variable Costing;
*Cost Variability;
*Mixed Costs;
*Labor-Based Purchase Quantities;
*Cost-Based On Purchase Quantities;
*Cost Based on Step Costs;
*Cost Based on Production Batch Sizing;
*Time-Based Cost;
*Experienced-Based Cost;
*Incorporating Cost Variability into Reports;
*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 and Cost Drivers;
*Cost Centres;
*Responsibility Centeres;
*Revenue Centres;
*Linking Resources, Activities and Management;
*Activity-Based Management (ABM);
*Linkages between ABM and ABC - Monitoring Value Creating;
*Problems, Case Study and Examples.

Part 3: Budgeting
*Budgeting and Capital Budgeting;
*The Command and Control System;
*The Budget System;
*Operating Decisions Affecting the Systems of Budgets;
*Budget Iterations;
*Budgeting Scenarios;
*The Revenue Budget;
*The Detailed Revenue Budget;
*Responsibility for Revenue Information;
*Sources of Revenue Information;
*The Effect of Pacing on the Revenue Budget;
*Variability of the Revenue Budget.

Part 4: Different Kinds of Budget and Approaches to Budgeting
*The Ending Finished Goods Inventory Budget;
*Production Budget;
*The Direct Materials Budget;
*The Direct Labour Budget;
*The Manufacturing Overhead Budget;
*The Costs of Goods Sold Budget;
*Research and Development Budget;
*The Administration Budget;
*The Capital Budget;
*The Compensation Budget;
*Master Budget;
*Flexible Budget;
*Fixed and Flexed Budget;
*The Rolling Forecast;
*Policy, Planning and Budgeting System (PPBS);.

Part 5: Budgeting Procedures, Efficiencies, Report and Control
*Budgeting Procedures;
*Formulation of the Budget;
*Issue Budget Variance Reports;
*Subsequent Account Changes;
*Budgeting Efficiencies;
*Budget Model Efficiencies;
*Participative Budgeting;
*Budgeting Report;
*General Reporting Format;
*Revenue Reporting;
*Overview of the Cost of Goods Sold Variance Reporting;
*The Purchase Price Variance;
*Material Yield Variance;
*Labor Rate Variance;
*Labor Efficiency Variance;
*Variable Overhead Spending Variance;
*Variable Overhead Efficiency Variance;
*Foxed Overhead Spending Variance;
*Problems with Variance Analysis;
*Reportable Variances;
*How Variances are Reported;
*Budgeting Controls;
*Budget Creating Controls;
*Budget Integration Controls.

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

Course location

HRODC Postgraduate Training Institute

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. 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:

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