Budgeting as a Tool for Decision Making

Course Objectives

  • Describe the Planning and Budgeting Cycle
  • Describe the Major Elements of the Annual Business Plan
  • Describe and Perform the Basic Steps in Preparing a Comprehensive Budget
  • Prepare a Capital Budget
  • Determine and Investigate Budget Variances
  • Understand New Trends in Budgeting

Who Can Benefit

  • financial decision makers, working with accountants and are involved in formulating, planning and implementing business strategy
  • Those with expertise in their own fields who need to acquire expertise in budgeting

Course Outline

  • Types of budget systems
    • Annual business plans (master budgets)
    • Master Budget and Responsibility Accounting
    • Types of Budgets
    • Comprehensive Budgeting
    • Responsibility Accounting
    • Responsibility and Accountability
  • Annual profit plan and the supporting schedules
    • Sales budget
    • Production / inventory budget
    • Direct materials budget
    • Direct labor budget
    • Pro forma statement of employee benefit costs
    • Overhead budget
    • Cost of goods sold budget
    • Selling and administrative budget
    • Budget for acquisition of capital assets
    • Cash budget and cash management plans
    • Pro forma income statement
    • Pro forma statement of financial position
    • Pro forma statement of cash flows
  • Measuring Actual Performance against the Budgeted Performance
    • Static Budgets and Flexible Budgets
    • Flexible Budgets without Standard Cost
    • Flexible Budgets with Standard Cost
    • Overview of Variance analysis (DM, DL, and OH)
    • Variances Investigation
    • Benchmarking
    • Human Aspects of Budgeting
  • New Trends in Budgeting
    • Activity based budgeting
    • Zero-based budgeting
    • Continuous rolling budgets
    • Kaizen budgeting

Code Courses Title Date Venue Price Request
AC03 Budgeting as a Tool for Decision Making
22 Sep to 26 Sep 2018 cairo contact us
22 Dec to 26 Dec 2018 Istanbul contact us

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