Gaining insights into the cost-volume-profit relationships enable managers to make better scare resources allocation decisions, plan activities, control costs and evaluate performance.
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.
VTeach is a great platform for many working professionals and students to strengthen their workforce and increase their productivity through high quality professional training. We work closely with our clients and gain an in-depth understanding of their training objectives.
This workshop focuses on the skills to manage the budgeting and forecasting processes that are critical to enterprises large and small.
In this unpredictable and erratic business environment, organizations need to harness its financial forecasting and models to futureproof their future financial health and performance to weather any unexpected setbacks.
Cost Control and Optimisation course is offered by LSBF. Our Mission is to prepare our students for leadership excellence and success in their chosen field.
Project Cost and Financial Management is concerned with the process of performing pre-project financial assessment, planning, creating and controlling the cost of a project or business.
This 2-day course is designed to discuss the main features of determining financial needs, formulating financial plans, establishing resource allocation, reviewing financial forecasts and budgets, as well as monitoring the budget and reporting findings to relevant stakeholders.
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