Effective Budget Preparation Skills Workshop in Erbil

Program Date

10 Jul 14 Jul 2023

Program Location

Erbil, Iraqi Kurdistan

Program Venue

Erbil Quartz Hotel

Registration Closing Date

31 May 2023

Program Overview

Budget Preparation is one of the major and most important activities for any commercial or non-commercial entity. Budgeting enables the organization to have a plan for future expenditures that can easily be compared to the actual ones. Hence, budgeting serves both as a planning and a control tool. Budget preparation requires a set of skills and thorough professional knowledge in order to ensure that the drafting process proves successful in the future.

Effective Budget Preparation Skills Workshop in Erbil, Iraqi Kurdistan is an extensive program that anchors on major crucial skills that are required to analyze and comprehend the entire process of budgeting & costing within various organizational structures. The workshop addresses all substantial issues related to budget drafting & preparation, cost analysis and performance evaluation.

Target Audience

This program is suitable for wide range of professionals working in finance, investment, budgeting or planning fields. The sessions will be beneficial to anyone who prepares and drafts the budgets or is interested in it.

  • Investment or Planning Managers
  • Internal auditors
  • Specialists from various fields that are responsible for budget preparation and financial reporting.
  • Accountants, project managers and budget analysts.

Program Objectives

Upon the successful completion of the course, the attendees will have thorough understanding of:

  • Budgeting & Costing Terminology applied in different organizations
  • The role of well-defined Budgeting & Costing Process
  • Best practices and techniques for preparing budgets
  • The relationship between budgeting and strategy execution
  • Ways for building comprehensive performance measurement system.

Program Contents

The role and importance of Budgeting & Costing

  • The role of budgeting within management accounting
  • Linking costing and budgeting to strategy and performance measurement
  • The process of value creation: implications for budgeting
  • What is a budget and why costing is fundamental
  • Budgets – the financial expression of the operating plan
  • Linking financial and operational issues.

Costs Analysis for Budgetary Purposes

  • Costing for budgeting: Why?
  • Cost terms and purposes
  • Fixed and variable costs
  • Direct and indirect cost – the allocation problem
  • Traditional methods versus Activity-Based Costing (ABC)
  • Is budgeting enough?
  • Integrate continuous improvement into variance analysis.

The Framework for Budgeting

  • Elements of the budgeting framework
  • Key concepts and terminology
  • Advantages and disadvantages: critical issues to be discussed
  • Overview of the financial statements
  • Introducing cost analysis for decision-making
  • The importance of understanding full costs
  • Budgeting for management control purposes
  • Describe the difference between a fixed budget and a flexed budget.

Program Methodology

Effective Budget Preparation Skills Workshop in Erbil, Iraqi Kurdistan will be conducted using modern adult learning techniques including formal lectures, numerical tasks, case studies and interactive worked examples. Each section will be demonstrated with practical exercises. Complex concepts will be simplified and visualized for participants’ better understanding.

Program Fee

Payment Options

Fee Covers

  • Visa Assistance (complementary)

  • Participant Assessment

  • Airport Pickup

  • Accommodation

  • Wi-Fi

  • Welcome Dinner

  • Breakfast

  • Workshop Kit

  • Program Materials

  • Program Experts

  • Practical Activities

  • Lunch

  • Refreshments

  • Interactive workshop

  • City Map & Direction

  • Risalat T-shirt

  • Field Visit

  • Program Certificate

  • Entertaining Tour

  • Program Report

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