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Budgeting, Costing & Decision Making

MF100

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All business decision-making involves analyzing situations containing varying degrees of risk, and the available data may be erroneous containing ambiguities and errors. It is important to understand how costs behave so that realistic plans can be produced and appropriate financial resources made available. In this programme you will learn how to:

Identify the principal factors required to produce a successful business case
Develop budgeting & financial skills required for better decision-making
Identify sources of financial and business data to support the budgeting process
Learn new techniques and methodologies to simulate typical business scenarios

Understand the importance of a well-defined budget process
Learn costing and budgeting terminology used in business
Master techniques for cost-benefit analysis
Learn how to construct profit, cash and balance sheet plans and budgets
Learn how to evaluate variances from plan and identify corrective actions
Understand discounted cash flow (DCF) techniques and their application to financial decision making
Use and build EXCEL spreadsheets for financial analysis, from basic models through to Monte Carlo simulation

Financial personnel who need to evaluate plans for approval and variance reports for corrective action and those who need to improve their skills in constructing and controlling a budget
Anyone from non-financial discipline, needing to evaluate proposed business expenditure decisions and who need to know more about the budgeting process, plan, cost and budget during their business careers

The basic concepts of budget and budgeting
Budgeting and forecasting
Budgeting and management
Budgeting and planning
Types of budgets
Approaches to budgeting
The various approaches to building budgets like - fixed
Preparing a budget
The preparation of operating budgets
The preparation of financial budgets
Budgetary and cost control
The basic concepts of budgetary control
The process of budgetary control
Budgetary variance

Presentation & Slides
Audio Visual Aids
Interactive Discussion
Participatory Exercise
Action Learning
Class Activities
Case Studies
Workshops
Simulation

Terms & Conditions

ACTrain reserves the right to alter the Course Schedule without Prior Notification, Fees Quoted are Subject to Terms & Conditions Outlined in ACTrain's Registration Policy