Budgeting, Costing & Decision Making
Introduction:
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 course you will learn how to:
Course Objectives:
By the end of this course, delegates will be able to:
Who Should Attend?
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
Course Outline:
The Need for Financial Control in Business
· Understanding accounting
· Management accounting versus financial accounting
· Cost behaviors in Cost-Volume-Profit scenarios
· Breakeven and targeted net income scenarios
· Business cases with master budgets
· Benefit-cost analysis
Capital Costs and Investment Appraisal
· Estimating cash flows within the business system
· Understanding Net Present Value (NPV) and Internal Rate of Return (IRR)
· Defining the approval criteria and review process
· Post-implementation audits of capital projects
· Sensitivity analysis and uncertainty
· Monte Carlo simulation techniques in budgeting
Cost Volume Profit Analysis
· Identifying relevant costs in complex decisions
· Complex applications of analysis
· Multiple products and services
· Evaluating before and after implementation
· Special sales orders and segment analysis
· Make or buy decisions
Full Costing, Marginal Costing and Activity Based Costing
· Comparing full and marginal costing
· Direct and indirect costs in budgeting for decision making
· Role of costs in pricing strategies
· Overhead allocation methods and difficulties
· Variance analysis of materials, labor, and overhead in manufacturing and services
· Activity Based Costing (ABC) in manufacturing and services
Budget Construction and Control
· Budgeting as a communication process
· Nature and purpose of budgets for planning and control
· Budgetary control and variance analysis
· Responsibility centers: cost, profit and investment
· Segment reporting internally and externally
| Code | From | To | City | Fee | |
|---|---|---|---|---|---|
| AF04 | 03 Feb 2020 | 14 Feb 2020 | Kuala Lumpur | US$ 7500 | Book |
| AF04 | 05 Apr 2020 | 16 Apr 2020 | Dubai | US$ 7000 | Book |
| AF04 | 07 Jun 2020 | 18 Jun 2020 | Cairo | US$ 6500 | Book |
| AF04 | 03 Aug 2020 | 14 Aug 2020 | Istanbul | US$ 7500 | Book |
| AF04 | 04 Oct 2020 | 15 Oct 2020 | Riyadh | US$ 7000 | Book |
| AF04 | 14 Dec 2020 | 25 Dec 2020 | Madrid | US$ 8500 | Book |
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DUBAI OFFICE
Ittihad Deira Building, |
USA OFFICE 642 E14 Street,10009-13 Manhattan, New York (NY) USA info@petrogas-training.com |
EGYPT OFFICE 52 General Kamal Hejab Street,Suez Bridge, Cairo, Egypt info@petrogas-training.com |
Certificate of Completion will be provided to the candidate(s) who successfully attend and complete the course. Training hours attendance percentage of 75% is required.
Standard course hours: 8:30 A.M. to 3:30 P.M. Informal discussions: 4:30 P.M. to 5:30 P.M.
We use a blend of interactive and hands-on methods, active participation, a variety of instructional techniques, dynamic presentations, individual and group exercises, in depth discussion, DVD’s, role-plays, case studies, examples. All of the information, competencies, knowledge and skills acquired within our training programs, are 100% transferrable to the participants’ workplace.
Pre-Test and Post-Test Assessment are applied on 5-day and 10-day programs. Also, post course evaluation and candidate’s evaluation are applied to add another level of quality measurement. Candidates’ feedback is highly appreciated to elevate the training service quality.
A- Have staff trained in the latest training and development approaches
B- Support nationalization and talent management initiatives
C- Have properly trained and informed people who will be able to add value
D- Gain relevant technical knowledge, skills and competencies
A- Develop job related skills
B- Develop personal skills in subject matter
C- Have a record of your growth and learning results
D- Bring proof of your progress back to your organization
F- Become competent, effective and productive
G- Be more able to make sound decisions
H- Be more effective in day to day work by mastering job-related processes
I- Create and develop competency to perform job well
A- 10% discount after 05 candidates’ registration.
B- 15% discount after 10 candidates’ registration.
C- 20% discount after 20 candidates’ registration.
D- 25% discount after 25 candidates’ registration.
E- 30% discount after 30 candidates’ registration
F- Higher discount rates will be offered based on work volume with different clients.
A- One extra free seat is offered on 4 candidates on the same course and dates.
B- Two extra free seats are offered on 6 candidates on the same course and dates.
C- Three extra free seats are offered on 8 candidates on the same course and dates.
D- Four extra free seats are offered on 10 candidates on the same course and dates.
E- Five extra free seats are offered on 12 candidates on the same course and dates.
Nominations to our public courses are to be processed by the client’s Training and/or HR departments. A refund will be issued back to the client in the event of course cancellation or seat unavailability. A confirmation will be issued to the relevant department official(s).
If a confirmed registration is cancelled less than 5 working days prior to the course start date, a substitute participant may be nominated to attend the same course or a 20% cancellation charge is applied. In case of a no-show, a 100% fee will be charged.
PAYMENT POLICY
Payment is due upon receiving the course confirmation, invoice and/or proforma invoice. However; the fee due can be wire transferred to our bank account directly after course completion. Our bank details are illustrated on the confirmation, invoice and proforma invoice, as well. The above documents can be communicated electronically, i.e., in a soft copy or/and in hard copy based on customer’s request.
COPYRIGHT
© 2017. Material published by PETROGAS shown here is copyrighted. © 2017. All rights reserved. Any unauthorized copying, distribution, use, dissemination, downloading, storing in any medium, transmission, reproduction or reliance in whole or any part of this course outline is prohibited and will constitute an infringement of copyright.
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