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Effective financial planning and cost control

Location: Madrid, Spain

Dates:  25 September– 29 September, 2017

Course fee: 2600€ + VAT 

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Programme Overview
Organisations, both in the private and public sector need to ensure that their budget processes are aligned with their strategic goals and encourage the right behaviours throughout the organisation. Decision makers within organisations need to be able to manage their budgets, understand the financial consequences of their decisions and rely upon and understand the costing information presented to them.
This interactive 5-day programme will enable managers in the private and public sector to understand and apply a range of techniques underpinning budgetary planning and cost control. These techniques will support the effective management of organisations via preparing realistic budgets aligned to organisational goals and managing performance against budget.

Who should attend
This training course is ideal for senior managers who are involved in business planning and budgeting or managers who control cost and budgeting for their departments or organizations or anyone who are currently managing projects and/or contracts, including:
  • Middle Management
  • Operations & Back Office
  • Financial and Product Control
  • Finance Business Partners, Accountants and Consultants
  • Planning and Budgeting & Regulatory Reporting
  • Auditors and Internal Control
  • Risk and Compliance Regulators
  • Graduate and Management Trainees

Related Courses:

Training objectives
By the end of this training course, participants will:
  • Develop budgets to achieve organisational goals
  • Select an appropriate budget model for their organisation
  • Determine the impact of cost behaviours on their budgets
  • Take key decisions on budgeting for capital assets
  • Drive appropriate overhead behaviour
  • Maintain strategic cost control, with advanced tool sets
  • Manage constrained resource and apply ABC & lean techniques
  • Manage internal service levels, apply the input output model
Course Outline
​Strategic planning, budgeting and cost control
  • Introduction & objectives
  • Principles of effective budgeting & cost control risk
  • Elements of strategic plans
  • Outcomes, outputs, processes and inputs
  • Assessing the financial consequences of strategic choices
  • The role of budgets
  • Linking plans to budgets
  • The budget setting and monitoring process

Budgeting
  • Budgeting methods
  • Cash vs. accruals budgeting
  • Types of budgets (incremental, zero-based etc.)
  • Devolving budgets, pros and cons
  • Setting budget responsibility centres and targets
  • Managing budget behaviours
  • Capital budgeting
  • Net present value and other investment appraisal tools
  • Reporting performance against budget

Cost control
  • Cost behaviours (fixed, variable etc.)
  • Direct and indirect costs
  • Controllable and uncontrollable costs
  • Cost allocation and control methods
  • Managing and costing constrained resources
  • Overhead absorption rates
  • Activity based costing
  • Variances and interpretation of financial performance

Cost management and reduction tools
  • Balanced scorecard
  • Lean techniques
  • Six-Sigma
  • Value based management
  • Pros and cons of internal service level agreements
  • Steps to continuous improvement culture
  • Establishing and managing a culture of cost control
Methodology
To enhance learning effectiveness, hand on experience will be emphasised in this programme through role-plays in class presentation, group facilitation and class critique.
Case studies, group discussions and video support will also be used to enhance learning experience. Fun quizzes will be injected to provide formative assessment and a fun learning environment.
  
Classes, books and training materials.
Entry level test.
Free Internet access.
International certificate upon completion of the course.
Coffee breaks and a buffet lunch daily.

*Fees do not include charges for travel and accommodation costs
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Tuition fees include
Features
  1. NEW SKILLS
    Learn, improve and share new skills with best instructors
  2. PROFESSIONAL NETWORK
    Make your professional network wider, meeting new people of your area
  3. VARIETY OF LOCATIONS
    Choose best venue with big variety of locations of courses
  4. SUPPORT
    Receive one year post-training support
  5. ENJOY YOUR TIME
    Enjoy your time with our cultural programs
  6. ONLINE COURSES
    Maximize your flexibility with online courses
Training Location
Madrid, Spain
Effective financial planning and cost control
Dates
25 September– 29 September, 2017

Course fee
2600€ + VAT 
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