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advanced-contract-drafting

Budgeting and Cost Control Training

Gain a strong knowledge of Budgeting and Cost Control. Get started Now! 

 

About Program

Highest Quality and the Most Productive, High Energy Learning Experience.

Curriculum

Comprehensive Course Curriculum. Customizable to full-fill your trainer needs.

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About Program

myTectra the Market Leader in Contract Auditing Training in Bangalore
myTectra offers Advanced Contract Drafting Training in Bangalore using the Class Room. myTectra offers Live Online Advanced Contract Drafting Training Globally.
 
 

Success Factors:

  • High-Quality Training
  • Top Technical Trainers
  • Comprehensive Course Curriculum
  • 100% Placement Assistance
  • Superb Satisfaction Score
  • Internship on Real-Time Project 
  • 3I- Individual Focus, Innovative & Interactive

Curriculum

INTRODUCTION:

All business decision-making involves analyzing situations containing varying degrees of risk, and the available data may be erroneous containing ambiguities and errors. It is important to understand how costs behave so that realistic plans can be produced and appropriate financial resources made available. In this program, you will learn how to: Identify the principal factors required to produce a successful business case

  • Develop budgeting & 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

OBJECTIVES:

  • Participants attending the program will:
  • 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
  • Use and build EXCEL spreadsheets for financial analysis, from basic models through to Monte Carlo simulation

WHO SHOULD ATTEND:

  • Professionals who need to evaluate plans for approval and variance reports for corrective action and who need to improve their skills in constructing and controlling budgets
  • Employees from every discipline and department who have to manage departments and plan, cost, and budget during their business careers
  • Anyone from non-financial disciplines who needs to evaluate proposed business expenditure decisions and who need to know more about the budgeting process

CURRICULUM:

  • The need for Financial Control in Business
  • Understanding accounting
  • Management account versus financial accounting
  • Cost behaviors in Cost-Volume-Profit scenarios
  • Breakeven and targeted net income scenarios
  • Business cases with master budget
  • Benefit-cost analysis
Capital Costs and Investment Appraisal
  • Estimating cash flows within the business system
  • Understanding Net Present Value (NPV) and Internal Rate of Return (IRR)
  • Defining the approval criteria and review process
  • Post-implementation audits of capital projects
  • Sensitivity analysis and uncertainty
  • Monte Carlo simulation techniques in budgeting
Cost Volume Profit Analysis
  • Identifying relevant costs in complex decisions
  • Complex applications of C-V-P analysis
  • Multiple products and services C-V-P
  • Evaluating C-V-P before and after implementation
     
  • Special sales orders and/or segment analysis
     
  • Make or buy decisions
     
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
  • Overhead allocation methods and difficulties
  • Variance analysis of materials, labor, & overhead in manufacturing and services
  • Activity-Based Costing (ABC) in manufacturing and services
Budget Construction and Control
  • Budgeting as a communication process
  • Nature and purpose of budgets for planning and control
  • Budgetary control and variance analysis
  • Responsibility centers: cost, profit, and investment
  • Segment reporting internally and externally

Customer Reviews

Our Customer Satisfaction Score (CSAT) is the highest in the Industry. 

Faqs

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