Why Choose this Training Course?
Very much like when the rocks below the sea become visible when the tide goes out, high levels of organisational overheads are exposed during an economic downturn, the result of which is lower profit levels and possibly losses. The position may be acceptable within the short term, but if such a situation continues over an extended period it is an obvious threat to economic survival. This therefore requires an assessment of the level of necessary overhead sand other resources required to support lower levels of economic activity.
The budget is a plan of how resources may be economically acquired and allocated over the short term (up to one year forward). Effective budgeting recognises changes in the external economic environment, such as an economic downturn, and then identifies the areas in which appropriate responses are required to prepare a financially viable plan.
This training course deals comprehensively with these issues in plain language that is easy to understand. It covers in detail how alternative costing systems are used in budget preparation. It also explores alternative approaches to costing, and budgetary control that may more accurately identify individual areas of overhead and determine appropriate levels of overhead, materials and labour resources to support reduced levels of activity.
The Instructors own commercial career experiences and many other real-world business scenarios are shared throughout this stimulating seminar to illustrate and reinforce the practical application of the tools and techniques and best practice.
This training course will highlight:
- Effective budgeting and performance measurement
- Full costing, marginal costing, and activity based costing (ABC)
- Operating budgets, cash budgets, and master budgets
- Fixed budgets, flexed budgets, and variance analysis
- Continuous performance improvement, and the balanced scorecard