Training objectives:
- Budget Management and cost control: How to improve the performance of an Organization?
- Budget and Decision making: Understanding the costs and the pricing
- Budgeting : the process Providing rigorous tools and approaches to measure the effectiveness of expenditures
- Follow up of budget realization and improvement: Accounting for control
- Capital budgeting and Investment decision
Who should attend:
- General Managers, Directors, Top Executives and Experienced Managers
- Business Managers, Department Heads & Line Managers
- Sales & Marketing Managers
- Accountants, Corporate Treasury Managers
- Professionals of any department involved in the budget process
- Any staff with a non-financial background looking to learn the fundamentals of budget and cost control
Course outline:
More than ever, Executives and managers have to understand how their decisions affect costs and how understanding costs and managing them properly is the way to success in an organization. This one day training “Budget Management and cost control” teaches the basics of financial reports, but above all the fundamentals of management accounting which is considered as the tool to enhance executives and managers ability to take adequate decision in an ever-changing environment. After understanding the basics of management accounting and its link with financial accounting, participants will be explained how to build budgets and implement cost control systems in a company. In the last part of the session, participants will become familiar with the understanding and use of financial accounting information in capital investment decisions.
The training is based on case studies in order for participants to become familiar with the basic guidance behind budgeting, cost control, valuation and financing of projects. Participants will understand how to build a Master budget and reconcile it with financial statements and beyond that how strategic decisions are linked with the quality of information that will support these strategic plans and decisions made in the company.
Agenda:
8:45 – 9:00 Welcoming participants
9:00 – 9:10 Introduction
9:10 – 9:30 Session One: Budget Management & Cost Control: How to improve the performance of an Organisation
9:30 – 10:15 Session Two: Budget and Decision making : Understanding the costs and the pricing (1)
10:15 – 10:30 Coffee Break
10:30 - 11:30 Session Two: Understanding Costs : Company examples (2)
1:30 – 12:00 Session Three: Budgeting : the Process 12:00 – 13:30 : Lunch
13:30 – 14:30 Session Four: Preparing the capital budget 14:30 – 15:15 Session Five: Preparing the cash budget
15:15 – 15:45 Coffee Break
15:45 – 16:30 Session Six: Doing a Master Budget
16:30 – 17:00 Session Seven: Follow up of budget realization and improvement - Accounting for control
17.00 -17:15 Wrap-up
Terms & Conditions:
Events have limited seating so to ensure your attendance we encourage advance online registration and payment for ALL events. We cannot guarantee entry to anyone not registered in advance.
All our events are held in English and are off-the-record unless otherwise stated.
Cancellation Policy:
If you cannot attend an event for which you have registered, please cancel your registration no later than one business day prior to the event. If you fail to notify us of your cancellation in a timely fashion, you will be charged for event costs.
To cancel you can: 1) email yangzhao@europeanchamber.com.cn, or 2) cancel online if you registered for the event through the website.