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Effective Budgeting and Cost Control Workshop in Bangkok

Program Date

20 Mar 24 Mar 2023

Program Location

Bangkok, Thailand

Program Venue

Eastin Hotel Makkasan

Registration Closing Date

31 Jan 2023

Program Overview

Professionals holding any position on managerial level require precise and effective planning and budget preparation skills. Budget Preparation is one of the major and most important activities for any commercial or non-commercial entity. It 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 an expenditure control tool. This course provides the full understanding of budgeting as a planning tool, a financial device and a control mechanism.

Target Audience

Effective Budgeting and Cost Control Workshop in Bangkok, Thailand has been designed specifically for managers, supervisors and analysts who are involved in preparing or use management budgets.

Program Objectives

Upon successful completion of Effective Budgeting and Cost Control Workshop in Bangkok, Thailand the participants will be able to:

  • Appreciate the importance of budgeting and its linkage to organization’s strategic plan
  • Interpret the relation of budgeting with different Financial statements
  • Prepare the key elements of operating and capital budget
  • Evaluate the different approaches to budgeting and cost control
  • Deal with Capital budgeting
  • Confidently Apply cost-volume-profit analysis
  • Effectively Utilize break even analysis.

Program Contents

Planning and the functions of management

  • The critical functions of management
  • Aligning the budget with the strategy of the organization
  • Road map to strategy
  • Budget as a planning tool
  • Control: the missing link
  • Planning pitfalls

The key financial statements

  • The accounting system
  • The income statement
  • The balance sheet
  • The cash flow statement

Budgeting: process and approaches

  • The advantages of budgeting
  • The budget process
  • Rolling budgets
  • The master budget
  • Operating and capital budgets
  • The budgeted financial statements
  • Approaches to budgeting
  • Tools of forecasting
  • Direct and indirect costs
  • Characteristics of an effective budget
  • Problems in budgeting

Cost control

  • The budget as a control tool
  • The control process
  • Characteristics of an effective control system
  • Responsibility reporting
  • Variance analysis: identifying the components of variance
  • Variance analysis: taking the corrective action

Capital expenditure budgeting and analysis

  • Time value of money
  • Simple versus compound interest
  • Identifying and analyzing cash flows
  • The discount rate: using the cost of capital
  • Net Present Value (NPV)
  • Internal Rate of Return (IRR)
  • Profitability Index (PI)
  • Pay-Back Period (PBP)
  • Accounting Rate of Return (ARR)
  • Approval for Expenditure (AFE)
  • Sensitivity and risk analysis.

Program Methodology

The presenter will apply modern training and adult learning techniques in order to maximize the level of comprehension for the attendees. The methods deployed will involve: presentation, open discussion, group and individual assignments, task visualization, numerical examples, case studies and a field visit. The approach taken will be more practical in order to ensure the instant appliance of the knowledge gained through the sessions at the workplace.

Program Fee
GBP2650

Payment Options

Pay By Paypal
Bank Transfer

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

Registration Information

  • Training Department
  • risalatconsultantsint
  • +995 555 11 66 22
  • +44 7700 31 37 37
  • +372 8160 7711
Registration

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