Targeted AudienceThe Role of Budgeting & Cost Control
- The complexity of managing contemporary organizations
- Strategic planning, budgeting and management control systems
- The key elements of budgeting: objectives, initiatives and resources
- Understanding the context for budgeting & the role of the controller
- What are the advantages and the disadvantages of budgeting
- What is it the situation in your organization? How to improve it?
Budgeting and Cost Control
- What are the essential inputs of the budgeting process?
- What is zero-based budgeting?
- Costing for budgeting: key terms and concepts
- Variable vs. Fixed costs
- The important role of contribution margin
- Cases, problems and examples
Costing: From Traditional to Activity-Based
- Complementing traditional costing with activity-based costing
- Direct vs. indirect cost
- Cost allocation: traditional costing and activity-based costing (ABC)
- From traditional budgeting to Activity-based budgeting (ABB)
- The importance of costs analysis
- Cases, problems and exercises
Capital Budgeting
- Capitalized vs. period costs
- Capital budgeting
- Payback period
- Net-present value
- Internal rate of return
- What is it the situation in your organization?
Beyond the Budgets: linking financial and non-financial KPIs
- What are the limits of budgeting and financial reporting?
- What are the drivers of the business model?
- What are the trades-off in place?
- Beyond budgeting: integrating financial and non-financial issues
- The balanced scorecard and KPIs
- Case, problems and examples