Seminar or Course
Number 42 - Budgeting - London UK - Budgeting - Advanced Budgeting for Business Enhancement Seminar or Course, Leading to HRODC Diploma - Postgraduate - in Advanced Budgeting for Business Enhancement includes
An introduction to cost terms and usage, Review of some key cost concepts, Cost information, Cost Information Generation, Cost Information Retrieval, Cost Information Processing, Cost Information Analysis and Interpretation, Using cost information to enhance organisational effectiveness, Costing as an ‘Operational Control Mechanism’,
Budget, motivation and responsibility accounting, An introduction to cost terms and purposes, The use of cost management information, Creating cost-aware organizations, Review of some key cost concepts, Product vs. Period costs, Direct and Indirect Costs, Cost behaviour: Fixed and Variable Costs, Problems and Examples, Absorption (Full) vs. Variable costing, Under-costing and over-costing: the consequences for profitability, How to refine a costing system?, Activity-based costing (ABC) and cost-management, Cost hierarchy & Cost drivers, Linking resources, activities and management, Introducing Activity-based management (ABM), Linkages between ABM and ABC – monitoring value creation, Problems, Case Study and Examples, Different Approached to Budgeting,
Fixed and flexed budget (static and flexible budget), Rolling budget, Policy Planning and Budgeting System (PPBS), Zero based budgeting, Activity based budgeting, Master budget, From costing to budget: interpreting variances (variance analysis), Integrate continuous improvement into variance analysis, Measuring yield, mix and quantity effects, Problems, Case Study and Exercises - A Diploma - Postgraduate - Course held in London UK and International Locations.
Prof. Dr. R. B. Crawford – Director HRODC Postgraduate Training Institute
(University of Bath);
Adv. Dip. Ed.
(University of Bristol);
Fellow of the Institute of Management Specialists;
Human Resources Specialist, of the Institute of Management Specialists;
Member of Academy of Management (MAoM), within the following Management
Organization and Management Theory;
Organization Development and Change;
Gender & Diversity in Organizations; and
Critical Management Studies.
Member of the Asian Academy of Management (MAAM);
Member of the International Society of Gesture Studies (MISGS);
Member of the Standing Council for Organisational Symbolism (MSCOS);
Life Member of Malaysian Institute of Human Resource Management (LMIHRM);
Member of ResearchGate Community;
Member of Convocation University of London;
Professor HRODC Postgraduate Training Institute.
DURATION: 5 Days
£5,000.00 Per Delegate
V.A.T. (Government Tax) does not apply to Corporate Sponsored
Individuals, taking Programmes or Courses in any location - within
or outside the UK.
It applies only to Individuals and Corporations
based in the UK and to Non-UK Individual Residing outside UK.
Introducing Advanced Budgeting For Business Enhancement Course or Seminar
All long and short-term 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 and budgets can be produced and appropriate financial resources made available.
Planning is crucial step for business success and budgets are one of the most widely used tools for planning and controlling by medium or large organizations in many parts of the world. Budgeting systems turns managers’ perspectives forward. A forward-looking perspective enables managers to be in a better position to exploit opportunities. It also enables them to anticipate problems and take steps to eliminate or reduce their severity.
Who Should Attend: For Whom
Managers with direct financial responsibilities
Cost and management accountant
Financial planners and cost analysts
Senior managers who supervise people with financial responsibilities
Financial and budget controllers who are moving to wider responsibilities
Managers who need to know more about business planning, budgeting, costing terms and techniques.
Managers who have to plan, cost and budget new business ventures.
Managers and Supervisors from every business discipline and department who have to run departments and plan, cost and budget during their business lives.
First appointment managers on fast-track development programmes
Managers who require a refresher programme on the topic or who would benefit from having an opportunity to consider new ideas and methods
Advanced Budgeting For Business Enhancement Course or Seminar
At the conclusion of the specified learning and development activities, delegates will be able to:
Demonstrate an understanding of ‘cost’ as a feature of organisations
Display a heightened understanding of ‘cost’ as a control mechanism
Exhibit a high level of understanding of cost information generation
Illustrate how cost information can be effectively retrieved, analysed and utilised for organisational effectiveness
Strategically analysis the formulation of long-run and short-run budget
Identify the principal factors required to produce a successful business case
Demonstrate their ability to utilise budgeting & financial skills required for better decision-making
Identify sources of financial and business data to support the budgeting process
Demonstrate the use of the appropriate techniques and methodologies to simulate typical business scenarios
Use Information for informed management decisions
Exhibit a heightened understanding of management’s use of management accounting information
Highlight the importance of the role of management accountants in business effectiveness
Distinguish between Basic Cost and Cost Analysis
Demonstrate a heightened understanding of Cost Behaviour and Cost Estimation
Outline the Different Approaches to Cost Planning, employing traditional and advanced techniques
Effectively utilise Cost Planning and Budgeting in business functions
Create and operationalised a Master budget
Demonstrate the value of Zero base budgeting in an Organisation’s budgetary function
Activity based budgeting
Demonstrate a high-level grasp of the concept of rolling budget
Execute the Decision-Making process with Relevance Costs and a Strategic Emphasis
Using a combination of lectures and group exercises, the delegates will gain both a theoretical and practical knowledge of the topics covered. The emphasis is on the practical application of the topics and as a result delegates will return to the workplace with both the ability and the confidence to apply the techniques learned.
Part 1 - Introduction To Cost, Cost Information and Review of Key Cost Concepts
An introduction to cost terms and usage
Review of some key cost concepts
Cost Information Generation
Cost Information Retrieval
Cost Information Processing
Cost Information Analysis and Interpretation
Using cost information to enhance organisational effectiveness
Costing as an ‘Operational Control Mechanism’
Part 2 – Planning and Budgetary Control Systems
Budget, motivation and responsibility accounting
The use of cost management information
Creating cost-aware organizations
Product vs. Period costs
Direct and Indirect Costs
Cost behaviour: Fixed and Variable Costs
Budgeting as a Management and Organisational Control System
Problems and Examples
Part 3 – Different Approaches to Costing
Absorption (Full) vs. Variable costing
Under-costing and over-costing: the consequences for profitability
How to refine a costing system?
Activity-based costing (ABC) and cost-management
Cost hierarchy & Cost drivers
Linking resources, activities and management
Introducing Activity-based management (ABM)
Linkages between ABM and ABC – monitoring value creation
- Problems, Case Study and Examples
Part 4 – Different Approaches to Budgeting
Fixed and flexed budget (static and flexible budget)
Policy, Planning and Budgeting System (PPBS)
Activity based budgeting
From costing to budget: interpreting variances (variance analysis)
Integrate continuous improvement into variance analysis.
Measuring yield, mix and quantity effects
Problems, Case Study and Exercises
Part 5 – Control Systems and Performance Measurement
Linking process development to costing
Financial and non-financial performance measure
Designing an accounting –based performance measure
Different performance measures
Concepts in action: Equifax, AT&T and EVA
Alternative performance measures
Choosing targeted levels of performance and timing of feedback
Distinction between managers and organizational units
Performance measures at the individual activity level