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Effective Budgeting and Cost Control Course in Dubai on 12 Feb 2012

The "Effective Budgeting and Cost Control" financial course will be conducted in Dubai on 12 Feb 2012.

Dubai, UAE

Program Outline

Principles of Budgeting and Cost Control
– The Critical Functions of Management
– Control: The Missing Link Linking the Tactical Budget to Strategic Objectives
– The Strategic Planning Process
– Budget as a Planning Tool
– Aligning the Budget with the Organization’s Strategy Types of Budgets – The Master Budget
– Operating and Capital Budgets
– The Budgeted Financial Statements Approaches to Budgeting
– Incremental Budgeting
– Zero-Based Budgeting
– Fixed Budgeting and Flexible Budgeting
– Kaizen Budgeting and Continuous Improvement
– Activity-Based Budgeting Budgeting and Costing Techniques
– Break-Even Analysis
– Use of Standards in Budgeting
– Different Forecasting Methods
– Trend Analysis and Cost Estimation
– Characteristics of an Effective Budget

Project Budgeting
– Planning for Projects
– Direct and Indirect Project Costs Capital Expenditure Budgeting and Analysis
– Time Value of Money
– Simple versus Compound Interest
– Identifying and Analyzing Cash Flows
– Using Cost of Capital or Required/Desired Rate of Return
– 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 Cost Control and Management Budget Reports
– Budget as a Control Tool
– Approaches to Cost Control
– Characteristics of an Effective Control System
– Understanding the Need for Timeliness and Precision
– Variance Analysis: Identifying the Components of Variance
– Variance Analysis: Taking the Corrective Action
– Problems in Budgeting

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