Introduction
Setting budgets is all about how to plan for the expected and for the unexpected. Successful budget setting is very much linked to the longer-term planning and strategic direction of the organisation. This GLOMACS online training course clarifies these links, and the jargon and methodology of planning, budgeting, costing and performance measurement and the role of management accounting, in plain language that is easy to understand. It covers in detail how the tools and techniques of successful budgeting is applied within the overall planning framework to ensure that organisational goals are met.
The Instructors own business career experiences and many other real-world business scenarios are shared throughout this stimulating online training course to illustrate and reinforce the practical application of the tools and techniques and best practice.
Objectives
By the end of this online training course you will be able to:
- Appreciate the importance of financial planning and budgeting with regard to the primary business objective of shareholder wealth maximisation
- Identify the links between strategic planning, budget setting, and performance measurement
- Evaluate the differences between full costing, marginal costing, and activity based costing (ABC)
- Use alternative approaches to costing for planning, budgeting and budgetary control
- Consider the reasons and purposes of budgeting, and alternative approaches to budgeting for more effective control and improved financial performance
Training Methodology
This online training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.
Who Should Attend?
This GLOMACS online training course is suitable for a wide range of professionals but will greatly benefit:
- Business professionals working in operations, manufacturing, R&D, engineering, quality management, procurement and logistics, human resources, and project management roles
- Accountants, controllers, finance directors, and other finance professionals active in the planning process
- Those working in general management, sales and marketing, estimating and costing, facilities management, and asset management