26 - 30 May 2025
Kuala Lumpur (Malaysia)
Hotel : Royale Chulan Kuala Lumpur
Cost : 5250 € Euro
All business decision-making involves analyzing situations containing varying degrees of risk. This program uncovers the essential skills required to understand the processes of budgeting and cost control for better decision-making. From understanding the importance of a well-defined budget process through to the importance of how costs behave so that realistic cost-cutting and budgeting plans can be produced. In this program you will learn how to:
Identify the principal factors required to produce a successful business case
Develop budgeting and financial skills required for better decision-making
Identify sources of financial and business data to support the budgeting process
Learn new techniques and methodologies to simulate typical business scenarios
Understand the importance of a well-defined budget process
Learn costing and budgeting terminology used in business
Master techniques for cost-benefit analysis
Learn how to construct profit, cash, and balance sheet plans and budgets
Learn how to evaluate variances from plan and identify corrective actions
Understand discounted cash flow (DCF) techniques and their application to financial decision making
Build and use budgets relevant to your organization
You will learn by active participation during the program through the use of exercises, case studies, practical workshops, syndicate, and group discussions.
DAY 1 - The need for Financial Control in business
Understanding accounting
Management accounting versus financial accounting
The relationship between business management and financial management
How budgeting fits into the bigger picture
How cost management improves an organization’s financial position
Key aspects of managing working capital
DAY 2 - Capital Budgeting and Investment Appraisal
The time value of money
Understanding Appraisal Techniques - Net Present Value (NPV), Internal Rate of Return (IRR) and Payback period
Selecting an appraisal technique
The use of Sensitivity analysis in evaluating projects
Strategic considerations in assessing capital projects
Creating an effective Capital Budgeting framework
DAY 3 - Cost Analysis and Management
Understanding cost structure and behaviour
Costs as a relationship to outputs – cost/volume/price relationship
The concept of contribution margin
Break-even analysis for planning and control
Cost allocation and apportionment
Benefit-cost analysis
DAY 4 - Full Costing, Marginal Costing and Activity Based Costing
Comparing full and marginal costing
Direct and indirect costs in budgeting for decision making
Role of costs in pricing strategies
Activity-Based Costing (ABC)
Managing cost control
DAY 5 - Budget Construction and Control
Nature and purpose of budgets for planning and control
Types of budgets and budgeting
Creating Key Performance Indicators for financial and non financial performance
Building a budget
Budgetary control and variance analysis
Budgeting for non-financial measures -introducing the Balanced Scorecard