Finance and Accounting

Training Course: Budget Preparation Skills


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FI2020

31 Mar - 4 Apr 2025

Amsterdam (Netherlands)

Hotel : Grand Hotel Amrâth Amsterdam

Cost : 5250 € Euro

Introduction

Budget Preparation Skills is a comprehensive program that focuses on the essential skills required to understand the processes of costing and budgeting within organizations. The program is designed to address all the relevant issues concerning cost analysis, budget preparation,, and performance measurement. This course is a must for all professionalss who needs to master their budgetary skills by learning how costs behave so that realistic business plans can be produced.

The seminar enables participants to:

  • Identify the key factors required to understand business processes

  • Develop a a proper system of cost analysis for budgeting purposes

  • Master the budgeting and financial skills required for better decision-making

  • Identify sources of financial and operational data to support the budgeting process

  • Learn new best practices to manage organizational performance

Objectives

  • Learn costing and budgeting terminology used in business

  • Understand the importance of a well-defined costing and budgeting process

  • Determine the full costs of outputs for the goods and services provided

  • Master traditional techniques and recent best practices

  • Link finance and operation for budgeting purposes and strategy execution

  • Learn how to build a comprehensive performance measurement system

Methodology

The seminar will be conducted along with with workshop principles with formal lectures, case studies and interactive worked examples. Relevant case studies will be provided to illustrate the application of each tool in an operations environment. Each learning point will be re-enforced with practical exercises. Difficult mathematical concepts are minimized and handled in a visual way that is easy to understand with examples demonstrated.

Organizational Impact 

  • Cost and budgeting awareness will be enhanced

  • Higher chances to select a budgetary system that works

  • Broadened knowledge of performance management techniques

  • A better attitude to link cost and budgeting to strategy and performance measurement

  • A deeper understanding of cause and effect relationship for budgeting purposes

  • Better awareness of non-financial implications of budgeting

Personal Impact

  • Delegates will understand the budgeting methods most useful to them

  • They will understand how to construct a relevant and efficient budget

  • They will learn to evaluate the usefulness of costing techniques in accurately calculating and ensuring profitability

  • They will reinforce and expand their knowledge by linking budgeting to strategy and performance measurement

  • They will broaden their understanding by linking financial and operational issues

Outlines

DAY 1

Budgeting and Its Role Within the Management Process

  • The role of budgeting within management accounting

  • Linking costing and budgeting to strategy and performance measurement

  • The process of value creation: implications for budgeting

  • What is a budget and why costing is fundamental

  • Budgets - the financial expression of the operating plan

  • Linking financial and operational issues

  • Behavioral implications of budgeting

  • Case discussion and examples

DAY 2

The Framework for Budgeting

  • Elements of the budgetary framework

  • Key concepts and terminology

  • Advantages and disadvantages: critical issues to be discussed

  • Overview of the financial statements

  • Balance sheet, Income statement and cash-flow statement

  • Introducing cost analysis for decision making

  • The importance of understanding full costs

  • The importance of understanding full costs

  • Case discussion and examples

DAY 3

Costs Analysis for Budgetary Purposes

  • Costing for budgeting: Why?

  • Cost terms and purposes

  • Fixed and Variable costs

  • Cost, profit and volume relationships

  • The key concept of contribution margin

  • Direct and indirect cost – the avocation problem

  • Traditional methods vs. Activity-based costing

  • Case discussion and examples

DAY 4

Flexible Budgets and Variance Analysis

  • Budgeting for management control purposes

  • Describe the difference between a static budget and a flexible budget

  • Compute flexible-budget variances and sales-volume variances

  • Explain why standard costs are often used in variance analysis

  • How to interpret variance analysis

  • Integrate continuous improvement into variance analysis

  • Case discussion and examples

  • Is budgeting enough?

DAY 5

Beyond Budgeting: Broadening Performance Measurement Systems

  • Shortcomings of traditional approaches to budgeting and measurement

  • Linking financial to operational issues

  • The Balanced Scorecard and Six-sigma

  • Linking Strategy execution to Performance Measurement

  • Financial perspective, Customer perspective

  • Internal Business Process perspective, Learning and growth perspective

  • Developing and adapting the scorecard

  • Case study illustration and discussion

Finance and Accounting

Training Course: Budget Preparation Skills


Register Now
Quick Inquiry
Discount Group Download Brochure (39)

FI2020

31 Mar - 4 Apr 2025

Amsterdam (Netherlands) - Grand Hotel Amrâth Amsterdam

Hotel : Grand Hotel Amrâth Amsterdam

Cost: 5250 € Euro


  About Amsterdam

Amsterdam, capital of the Netherlands, is a popular destination amongst travelers from all around the world. Once just a little fishing village, Amsterdam is now a major international city after having become an important port during the 1600s. Throughout its history, the city has had many famous residents, including artists, philosophers and other historical figures. There is much to discover along Amsterdam's quaint streets and picturesque canals. So much so that a flight to Amsterdam comes with a guarantee of cultural and historical attractions that will provide memories to last a lifetime. Amsterdam is a hotbed of culture for travelers of all ages and tastes.


  Things to do and places to visit in Amsterdam

From the moment passengers step off their flight to Amsterdam, they will find it a friendly city with a lively atmosphere. Its flat geography means that it is perfect for exploring by bicycle. If you're feeling less active, it the city is also well-served by public transport. The so-called Venice of the North has something for every visitor. Culture vultures have museums, galleries and theaters to see, Families can visit the zoo or the Science Center NEMO.

When visiting Amsterdam, be sure to:

  • See the picture-perfect and colorful houses of the Grachtengordel district.
  • See the iconic works of one of Holland's most famous artists at the Van Gogh Museum.
  • Visit the house where Anne Frank and her family hid from the Nazis.
  • Browse through the extensive collection of fantastic art in the Rijksmusem.
  • Wander through the blaze of colors that is the Singel Flower Market.
  • See the city at a leisurely pace on a canal cruise.
  • Marvel at one of the city's many historic churches.
  • Learn about life aboard a ship at the National Maritime Museum.
  • Discover the Begijnhof's well-preserved medieval architecture.
  • See animals of all kinds, as well as the butterfly pavilion and aquarium, at the Artis Zoo.
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