Budgeting and Cost Control Training

INTRODUCTION:

All business decision-making involves analyzing situations containing varying degrees of risk, and the available data may be erroneous containing ambiguities and errors. It is important to understand how costs behave so that realistic plans can be produced and appropriate financial resources made available. In this program, you will learn how to: Identify the principal factors required to produce a successful business case

Develop budgeting & 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:

Participants attending the program will:
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
Use and build EXCEL spreadsheets for financial analysis, from basic models through to Monte Carlo simulation

WHO SHOULD ATTEND:

Professionals who need to evaluate plans for approval and variance reports for corrective action and who need to improve their skills in constructing and controlling budgets
Employees from every discipline and department who have to manage departments and plan, cost, and budget during their business careers
Anyone from non-financial disciplines who needs to evaluate proposed business expenditure decisions and who need to know more about the budgeting process

CURRICULUM:

The need for Financial Control in Business
Understanding accounting
Management account versus financial accounting
Cost behaviors in Cost-Volume-Profit scenarios
Breakeven and targeted net income scenarios
Business cases with master budget
Benefit-cost analysis

Capital Costs and Investment Appraisal

Estimating cash flows within the business system
Understanding Net Present Value (NPV) and Internal Rate of Return (IRR)
Defining the approval criteria and review process
Post-implementation audits of capital projects
Sensitivity analysis and uncertainty
Monte Carlo simulation techniques in budgeting

Cost Volume Profit Analysis

Identifying relevant costs in complex decisions
Complex applications of C-V-P analysis
Multiple products and services C-V-P
Evaluating C-V-P before and after implementation
Special sales orders and/or segment analysis
Make or buy decisions

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
Overhead allocation methods and difficulties
Variance analysis of materials, labor, & overhead in manufacturing and services
Activity-Based Costing (ABC) in manufacturing and services

Budget Construction and Control

Budgeting as a communication process
Nature and purpose of budgets for planning and control
Budgetary control and variance analysis
Responsibility centers: cost, profit, and investment
Segment reporting internally and externally

How do I contact myTectra for Corporate Training?

Would you like to reach us for the training for your team? Please fill the below form. We will get back to as soon as possible.

Will I get placement assistance?

myTectra is providing 100% placement assistance on our key courses. We help you with the career counselling, Exams on Key courses, Mock Interviews and Technical Interviews Tips.

Landing an interview proves that you have the job-specific skills for the position, but how do your interview skills stack up? Also, Soft skills are often the most important factor in showing you're the best candidate for the job.

Hence we are conducting FREE TRAINING on Soft-Skills worth Rs-25, 000 to all myTectra students which will help you to attend the interviews with more confidence.

Can I attend a demo session before enrollment?

Yes. We arrange a free demo for all the courses either in the Classroom or Live-Online demo. Please fill the demo request form below to schedule a free demo.

What if I miss a class?

You will never miss a lecture at myTectra. You can choose either of the two options:

Classroom Training:

If you miss one or few classes we can give a backup class based on trainer and your convenient time.
In case if you miss many classes, we can reschedule your class with upcoming batches or other running batches based on how many courses topics you have completed so far.

Live-Online Training:

View the recorded session of the class available in your LMS.
You can attend the missed session, in any other live batch.

What if I have more queries?

Just give us a CALL at +918047112411 OR email at support@mytectra.com

What are the payment options?

Payments can be made using any of the following options and a receipt of the same will be issued to you automatically via email for both classroom training and Online training.

Visa Debit/Credit Card
American Express and Diners Club Card
Master Card
PayPal
Net Banking/Wire Transfer
UPI Payment such as Google Pay, PhonePe, Paytm
Cash/Cheque/DD ( Not for Online Training )

Where do the classes take place?

For Individual:

Classroom Training - Bangalore

Live-Online Training - Globally

For Corporates:

Classroom Training - We deliver classroom training for corporate in more than 20 countries. Send us an Enquiry Now!

Online Training - Globally

* All of the classes are conducted live online. They are interactive sessions that enable you to ask questions and participate in discussions during class time. We do, however, provide recordings of each session you attend for your future reference.

Who are the Trainers?

Our Trainer’s are chosen not only for their knowledge and expertise but also for their real-time experience in the respective courses.

How do contact for support queries after I enrolled for this course?

Your access to the Support Team is for a lifetime and will be available 24/7. The team will help you in resolving queries, during and after the course.

You can send an email to support@mytectra.com or submit the below form to create a ticket.

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