Budgeting and Cost Control Training Course in Dubai

BMC Training provides Budgeting and Cost Control Course in Dubai.There are 5 sessions for the course Budgeting and Cost Control in Dubai , UAE.

Budgeting and Cost Control Training in Dubai , UAE

Course Code : FBA122 - Course Address : Manzil Downtown Hotel - Course Fees : 4750 GBP + 05% VAT

City Start Date End Date View
Dubai , UAE 17 - 12 - 2023 21 - 12 - 2023
Dubai , UAE 28 - 1 - 2024 1 - 2 - 2024
Dubai , UAE 25 - 2 - 2024 29 - 2 - 2024
Dubai , UAE 17 - 3 - 2024 21 - 3 - 2024
Dubai , UAE 28 - 4 - 2024 2 - 5 - 2024
Course Description

Intorduction

All business decision-making involves analysing situations containing varying degrees of risk. This programme uncovers the essential skills required to understand the processes of budgeting and cost control for better decision-making. From understanding the importance of a well defined budget process through to the importance of how costs behave so that realistic cost cutting and budgeting plans can be produced.  In this programme you will learn how to:

  • Identify the principal factors required to produce a successful business case
  • Develop budgeting and 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

  • 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
  • Build and use budgets relevant to your organisation

Day One

The need for Financial Control in business

  • Understanding accounting
  • Management accounting versus financial accounting
  • The relationship between business management and financial management
  • How budgeting fits into the bigger picture
  • How cost management  improves an organisation’s financial position
  • Key aspects of managing working capital

Day Two

Capital Budgeting and Investment Appraisal

  • The time value of money
  • Understanding Appraisal Techniques – Net Present Value (NPV), Internal Rate of Return (IRR) and Payback period
  • Selecting an appraisal technique
  • The use of Sensitivity analysis in evaluating projects
  • Strategic  considerations in assessing capital projects
  • Creating an effective Capital Budgeting framework

Day Three

Cost Analysis and Management

  • Understanding cost structure and behaviour
  • Costs as a relationship to outputs – cost/volume/price relationship
  • The concept of contribution margin
  • Break-even analysis for planning and control
  • Cost allocation and apportionment
  • Benefit-cost analysis

Day Four

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
  • Activity Based Costing (ABC)
  • Managing cost control

Day Five

Budget Construction and Control

  • Nature and purpose of budgets for planning and control
  • Types of budgets and budgeting
  • Creating Key Performance Indicators for financial and non financial performance
  • Building a budget
  • Budgetary control and variance analysis
  • Budgeting for non-financial measures -introducing the Balanced Scorecard
Where will the course be held?

The course will be held in Downtown. The exact address and directions will be provided to all enrolled participants prior to the start of the course.

What topics will be covered in the course?

The course will cover a range of topics related to the subject matter, including but not limited to the topics of outlines. By the end of the course, you'll have a solid understanding of the key concepts and techniques in the field, and be able to apply them to real-world situations. Detailed course outlines and learning objectives will be provided to all enrolled students prior to the start of the course.

What is the schedule for the course?

The course is expected to run for 3 hours daily. The exact schedule and timing will be confirmed and communicated to all enrolled students via email at least 2 days prior to the course start date.

What do I need to bring to the course?

All you need to bring is yourself, a notepad or laptop for taking notes, and a willingness to learn! We'll provide pens, paper, and any required textbooks or handouts.

What is the instructor's background and experience?

Our instructors are seasoned industry professionals with over 10 years of experience in the field. They hold a master's degree in the subject matter and have a proven track record of success working with trainees of all levels. You'll have plenty of opportunities to ask questions and get feedback throughout the course.

What are the T&C for this course?

Please visit our Terms and Conditions page

What kind of certificate will I receive upon completion of the course?

Upon completion of the course, you will receive an attendance certificate indicating that you have completed the course. This certificate is not accredited or recognised by any particular institution or organisation, but it can be used to demonstrate your commitment to continuing education and professional development.