The A - Z of Budgeting

Created by LEC Team
Last updated Mon, 27-Mar-2023
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It is necessary to comprehend how costs behave so that sensible strategies can be created, and also ideal financial and non-financial resources can be provided to the business. Management Control builds on the budgets to recognize variations and take corrective actions. This course will enable you to understand the typical tools of budgeting and also control as well as brand-new vibrant approaches, which show as well as reply to the present facility business setting.

Training course Objectives of The A - Z of Budgeting


  • Develop incorporated preparation, budgeting, as well as reporting procedure
  • Recognize the role of Budgets within companies
  • Understand Prices actions as well as manage expenses more effectively
  • Master conventional as well as ingenious strategies to Budgeting and also Cost Control
  • Select the performance measurement systems and the KPIs that work


Day 1
The 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 the situation in your organization? How to improve it?



Day 2
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



Day 3
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



Day 4
Capital Budgeting

  • Capitalized vs. period costs

  • Capital budgeting

  • Payback period

  • Net-present value

  • Internal rate of return

  • What is the situation in your organization?



Day 5
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


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