Strategic Planning, Control and Budgeting  register

Course Overview
The human mind is often absorbed in so much data that it has difficulty processing the multitude of facts and relationship simultaneously and sometimes forget the important elements. Thus, as plans become more and more intricate, they should be documented in writing and include qualitative narratives of goals, objectives and means of accomplishing the objectives.
Course Objectives

  • Discuss the importance of strategy and its role in the master budget
  • Acquire best practices in budgeting
  • Understand the strategic role of cost concepts
  • Explain the cost concepts for the use of cost information for management control
  • Describe the role of budgets in the management process
  • Prepare  a master budget and explain the interrelationships among its supporting schedule
  • Understand zero-base, activity based and kaizen approaches to budgeting
  • Explain the essence of control system
  • Develop flexible budgets for evaluating short-term financial performance
  • Identify different cost control measures
  • Measure and evaluate performance

Course Outline

  • Introduction to planning and control
  • Budgeting overview
  • Behavioural aspect of budgeting
  • Understanding cost behaviour
  • Flexible budgets and standard cost systems
  • Developing an annual/Master Budget
  • Conceptual Aspects of Budgeting
  • Resources Allocation
  • Activity-based Management and Activity-based costing
  • Cost Control
  • Measuring and Evaluating Performance