Finance and Accounting

Training Course: Preparing & Monitoring Budgets and Analyzing Costs


Register Now
Quick Inquiry
Discount Group Download Brochure (38)

FI235404

17 - 21 Feb 2025

Amsterdam (Netherlands)

Hotel : Grand Hotel Amrâth Amsterdam

Cost : 5250 € Euro

Introduction

Organizations today face increasing financial challenges that require a high level of efficiency in preparing and monitoring budgets and cost analysis. The budget is a vital tool in planning and managing financial resources, and it enables management to make informed decisions that enhance the effectiveness of institutional performance. This advanced training course aims to provide participants with the knowledge and skills necessary to develop accurate budgets, effectively monitor them, and analyze costs in ways that help improve the financial performance of the institution.

Course Objectives

  • Develop budget preparation skills: Understand the different methods of budget preparation in line with the institution's needs and strategies.

  • Enhance financial monitoring capabilities: Learn how to monitor the budget, identify and analyze deviations, and take the necessary corrective actions.

  • Effectively analyze costs: Acquire the skills necessary to analyze different types of costs and their impact on financial and administrative decisions.

  • Prepare advanced financial reports: Learn how to prepare comprehensive and value-added financial reports for senior management to assist them in making strategic decisions.

  • Practical applications: Apply theoretical knowledge through practical training and real-world case studies to improve the understanding and practical capabilities of participants.

Target Audience

  • Financial managers: who want to improve their skills in preparing, monitoring, and analyzing budgets and costs.

  • Budget analysts: who are looking to develop their skills in cost analysis and provide accurate and comprehensive financial reports.

  • Cost managers: who want to improve their understanding of costs and analyze them in ways that contribute to improving financial performance.

  • Accountants: who are seeking to deepen their knowledge in budget preparation and analysis in ways that contribute to improving financial performance.

Outlines

Day 1: Introduction to Budget Preparation

  • The concept of the budget and its role in financial planning

  • Definition of the budget and its importance

  • Types of budgets (capital, operating, cash)

  • Main budget components

  • Expected revenue

  • Direct and indirect costs

  • Operating and capital expenditures

  • Budget preparation methods

  • Traditional method (Top-Down, Bottom-Up)

  • Zero-based budgeting

  • Continuous budgeting

  • Practical exercise: Preparing a simple budget

Day 2: Budget Monitoring and Financial Performance Management

  • Budget monitoring tools

  • Comparing the actual budget to the plan

  • Key performance indicators (KPIs)

  • Analyzing the gaps between the actual and planned budget

  • Causes of positive and negative deviations

  • Ways to correct deviations

  • Financial performance monitoring reports

  • Types of periodic reports

  • How to prepare a monthly budget monitoring report

  • Practical exercise: Preparing a budget monitoring report and analyzing deviations

Day 3: Cost Analysis

  • Introduction to cost analysis

  • The concept of costs and their types

  • The difference between fixed and variable costs

  • Cost-Volume-Profit (CVP) Analysis

  • Break-even point

  • Margin analysis

  • Decision-making costs

  • Relevant and irrelevant costs

  • Differential cost analysis

  • Practical exercise: Applying cost analysis in different scenarios

Day 4: Preparing Advanced Financial Reports

  • Financial analysis and financial reporting

  • Understanding basic financial statements (balance sheet, income statement, cash flow statement)

  • Using financial ratios to analyze performance

  • Profitability, liquidity, efficiency, and solvency ratios

  • Preparing financial reports for senior management

  • Designing reports according to management needs

  • Providing financial recommendations

  • Practical exercise: Preparing a comprehensive financial report and analyzing performance

Day 5: Practical Applications and Case Studies

  • Real-world case studies in budget preparation

  • Analysis and study of cases from global and local companies

  • Final project: Preparing and monitoring the budget of a virtual company

  • Dividing participants into work teams

  • Preparing a comprehensive budget

  • Monitoring performance and analyzing costs

  • Presenting and discussing team projects

  • Submitting final projects

  • Discussing challenges and successes

  • Course conclusion and certificate distribution

  • Summary of key points

  • Distribution of course completion certificates

Finance and Accounting

Training Course: Preparing & Monitoring Budgets and Analyzing Costs


Register Now
Quick Inquiry
Discount Group Download Brochure (38)

FI235404

17 - 21 Feb 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.
 22 Portman Square, Marylebone, London W1H 7BG, UK
 3 Oudai street, Aldouki, Giza, Giza Governorate, Egypt
 0020233379764
 00201095004484
 00201102960555
 00201102960666
 19 Mayıs Mahallesi, 19 Mayis Street No 2 Sisli, 34360 Istanbul/Turkey
 00905357839460
 Australia Street, Raouche Beirut, Lebanon .، Beirut, Lebanon
 0096181746278
 811 Massachusetts Avenue, Boston, Massachusetts, 02118, USA
 6 Beirut Street - Fifth Circle Abdoun, P.O. Box 831370, 11183 Amman, Jordan
Copyright Global Horizon Training Center © 2019