Budgeting and Cost Control

An effective budgeting system can supply such information, as monthly cash needs, raw materials requirements, peak labor demand seasons, and timing of capital facility expenditures. At the end of an accounting period, budgets help management assess the area of strength and weakness through comparisons of actual operating results and budgeted amounts. This course explores most related areas operating budget and cash budget.

 

Learning Outcomes

Upon successful completion of this course, the participant will be able to:

  • Apply budgeting fundamental principles;

  • Prepare and create budgets;

  • Understand budgeting terminology;

  • Practice budgeting methods;

  • Calculate operating budgets;

  • Learn about types of budgets;

  • Analyze budgets and cash flows;

  • Identify all the appropriate costs to be included in a capital expenditure proposal;

  • Apply the concept of internal control by the interpretation of budgets;

  • Analyze management cost reports and take corrective action;

  • Cut costs by using financial tools.

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