Costing and Budgeting

by VTeach Claim Listing

Gaining insights into the cost-volume-profit relationships enable managers to make better scare resources allocation decisions, plan activities, control costs and evaluate performance.

S$395

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img Duration

2 Days

Course Details

Course Description

Funding available for this course

It is important for managers to identify cost behavior and understanding the fundamental interactions between costs and revenues in any activity. Gaining insights into the cost-volume-profit relationships enable managers to make better scare resources allocation decisions, plan activities, control costs and evaluate performance. Our working environment today has evolved with the sensitivity of cost behavior where end state of stake-holders objective is to optimize its scare resource.

In-tandem with above, when a business decide to purchase common items, the planning and purchasing processes may be quite simple but many purchasing decisions, however, do involve large commitments of resources over a long period of time. Obviously, business want to be careful with such planning activities commonly known as the Budgeting.

This course teaches in-depth Principles & Application on Cost Behavior and budgeting evaluation models together with illustration.

There will be hand on exercises, questions and problem solving with answer provided after the sharing session.

 

Course Objective:

Upon completion of this course, participants will be able to:

  • Identify cost behavior patterns and relevant ranges of activity

  • Explain the relationship between fixed costs, variable costs and activity levels

  • Discern between discretionary fixed cost and committed fixed costs

  • Separate mixed costs into fixed and variables cost components

  • Calculate the break-even point and explain its relationship with contribution margin

  • Estimate the effect of changes in costs, process and volume on profit

  • Use the margin of safety ratio in accessing risk

  • Describe the nature and characteristics of the budgeting process

  • Use discounted cash flow methods to evaluate budgeting projects

  • Utilize budgeting evaluation methods that do not use discounted cash flows

  • Identity and explain the strengths and weaknesses of the various budgeting models

  • Use the capital budgeting evaluation models to develop an expenditure budget

 

Target Audience:

Managers, Head of Department, Vice President, CFO, COO whom are required to plan and control costs and plan for budget both at department, business segment, company, division and/ or regional level.

  • Central Branch

    10 Anson Road #10-11 International Plaza, Central

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