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Strategic Planning, Budgeting & Cost Control
Available Online
Upcoming dates in English

28 May 2021 - ONLINE Training (Price: 780 Euro )
29 September 2021 - NH Collection Brussels Centre BE - Brussels (Price: 840 Euro )
Ask us a question about this course or request In-Company information


PROGRAM OUTLINE for this 1 day course in English

The managers most likely to succeed in today’s business environment are those who understand how to use budgets as business tools for company, departmental and personal success.

3 Steps of analysis you need to undertake when building budgets.

1. Analyse the context of the evolving industry, world, and corporate strategy.

  • Budgeting is not just about your plans, but your plans put into context with corporate strategy, the changing industry, and the world around us.
  • Use environmental analysis techniques to become more productive.
  • Use industry and competitive analysis techniques to keep pace with what the industry is doing.
  • Understand the value chain of your organisation and where key budgets should be assigned to.
  • Understand that budgeting is about target settings, therefore your strategy.  

 

2. Analyse your budget requirements and understand the “fit” with corporate budgeting.  

  • Understand how corporate budgeting works and how your budget fits in the whole framework to make better business decisions.  
  • Learn how your budget contributes to the overall profits and meeting strategic objectives.   
  • Learn which techniques to employ, the challenges, and what to incorporate into your budget.
  • Decide on incremental, zero-based or rolling based budgeting.
  • Understand that budgeting is the most important process in the organisation to ensure profitability.
  • Budgeting should not be seen in isolation but in conjunction with all managers and corporate objectives.  

 

3. Analyse and decide on a cost management structure and use your budget as a performance evaluation tool.

  • Use your budget as a performance measurement instrument.
  • Learn that your costs can be optimised and viewed from different perspectives.
  • Agree on direct and indirect costs and maintain these regularly.
  • Understand that these costs form the basis of price settings.
  • Decide on fixed versus variable costs and build a flexible business model.
  • Optimise the breakeven point, the point when products and projects become profitable.     

The learning outcome

By the end of this 1-day training course, you will have understood the role and principles of budgeting. Have confidence in using budgeting tools and techniques and have learned how to create budgets, understand budgeting terminology and learn how to analyse budgets.

It covers in detail how the tools and techniques of successful budgeting and budgetary control are applied within the overall planning framework to ensure that organisational goals are met.

You will learn about:

  • Strategic planning, budget setting, performance measurement
  • Full costing, marginal costing, and activity-based costing (ABC)
  • Operating budgets, cash budgets, capital budgets, and master budgets
  • Fixed budgets, flexed budgets, and variance analysis
  • Continuous performance improvement
  • Learn to think strategically and prepare successful financial plans and budgets and determine the financing requirements of the organisation
  • Comparing fixed and variable costs, direct and indirect costs, and the use of contribution accounting. 
  • Use the appropriate techniques of forecasting sales and costs, and sales pricing, and preparation of departmental budgets, the master budget, and cash budgets.

 

Recommended background

This course provides training for budgeting managers and anyone who contributes or needs to evaluate budgets and forecasts. No entry requirements are needed. 

Course format (Residential and Online) 

This course will be taught using a combination of formal instructions, combined with practical and interactive exercises and case studies used to reinforce the concepts taught in each section of the course. Case studies include critique of conventional budgeting techniques, real-world examples of problems and best practice guidelines.

Practice-based learning and critical engagement is a key theme through all our courses allowing delegates to acquire the needed skills and techniques to be applied as soon as they are learned and developed.

Syllabus

Day 1:  

  Introduction

  • Exploring the role of budgeting in planning
  • The decision making
  • The resource allocation
  • The controlling performance

 

  The key budgets

  • The sales budget and income budget
  • The production budget
  • Capital expenditure budget
  • The master budget

 

  Budgets as planning and control tool

  • Budgeting and controlling
  • The functions and benefits of budgets
  • Criticism of budgeting
  • Budgets and planning
  • Limiting factors
  • The cycle of planning
  • Procedures and structures

 

  Budget methods

  • Budgetary methods
  • Budgets and people
  • planning versus reality
  • Flexible budgeting

 

  Variance analysis

  • Types of standards
  • Calculating variances
  • Advantage and disadvantage of variance analysis

 

  From costing to strategising

  • Management accounting
  • Costing tools

 

  Full costing

  • Direct and indirect costs
  • Charging costs to more than one output cost determination.

 

  Contribution costing

  • Fixed and variable Costs
  • Making a contribution
  • Contribution to sales ratio in decision making
  • Dealing with contribution

 

  Break even analysis

  • Break even analysis
  • Beyond the break-even point
  • Charting and the margin of safety
  • Stepped costs
  • Break- even assumptions and limitations.

 

  Making financial decisions

  • Relevant and non-relevant costs
  • The internal and external dilemma
  • Costing in pricing decisions
  • Cost-plus pricing and rate of return pricing.

 

  Activity Based Costing

  •  The challenge of charging overhead costs to products and services.

 

 

 

All Course Dates

 

When: 28 May 2021

Where: ONLINE , Training, Course
Strategic Planning, Budgeting & Cost Control in: English

Timing: From 09:00 till 17:00
Price: 780 Euro  (VAT Exclusive)
Early booking discount: A 10%  discount will be applied if you register before or on 29/03/2021


When: 29 September 2021

Where: NH Collection Brussels Centre Boulevard Adolphe Max. 7, 1000 BE - Brussels, Belgium
Strategic Planning, Budgeting & Cost Control in: English

Timing: From 09:00 till 17:00
Price: 840 Euro  (VAT Exclusive)
Early booking discount: A 10%  discount will be applied if you register before or on 31/07/2021






Participant feedback

  • Great course going into important details on cost and budgeting. I really liked the real-world examples that help reinforce and bring the concepts to an everyday audience.
  • An excellent course of the core topics indeed! I found it very informative & concise in terms of mastering the basics of Budgeting, Cost Estimations & scheduling with an hands-on approach from industry experts. Thank you Team!
  • A pleasant and knowledgeable instructor with a lot of interaction among participants.
  • In my opinion this is a very recommendable course. It's worth all the time one spend with it. The explanations are very good an also understandable for non-native english speakers.

Learn the way that suits you most!

Course Lecturers



Maureen Whitehead-Lausman, MBA

19 years associate lecturer in Financial Strategy and Corporate Strategy for a triple accredited global business school. 20 years’ experience developing and delivering training programs for large and medium sized companies including in Germany, China, USA, Singapore, Ethiopia, South Africa, Russia and Romania. Corporate finance, value based management and finance for non-financial managers at middle and senior management level are a particular interest.  


Mag. Johannes Hofinger, MBA, FRM

Johannes Hofinger is specialized in Risk Management, Basel III, IFRS and regulatory reporting. His professional skills are reinforced by strong academic roots. He lectures for global business schools in corporate finance, managerial accounting and financial reporting. The main roles undertaken are lecturing, consulting and project management.  


OUR INTERNATIONAL EXPERIENCE

Books we studied for you



Managing Budgets - Stephen Brookson
Managing Budgets - Stephen Brookson

Forecasting, expenditures, priorities, and safety margins. Learn all you need to know about the budgeting process, from preparing a forecast to monitoring variances and making adjustments. Managing Budgets gives you a clear understanding of the budgeting cycles and explains standard concepts and terms. It shows you how to create a personalized budgeting system, anticipate revenues and estimate expenditures, correct errors, and motivate staff to achieve financial targets.  


Budgeting for Managers - Sid Kemp, Eric Dunbar
Budgeting for Managers - Sid Kemp, Eric Dunbar

Managers in all types of organizations and environments must be able to prepare, or at least understand, a realistic and results-oriented budget. Budgeting for Managers--rich in practical techniques and examples--walks the reader through the entire budgeting process, from basic financial concepts and their use in creating a budget to methods for tracking actual spending.  


Practical Financial Management: A Guide to Budgets, Balance Sheets and Business Finance - Colin Barrow
Practical Financial Management: A Guide to Budgets, Balance Sheets and Business Finance - Colin Barrow

Entrepreneurs need to be financially literate. The most common cause of business failure is poor financial control stemming from an ignorance of the basics of business finance. "Practical Financial Management" is intended to help those who find business finance confusing. Now in its seventh edition, it continues to provide advice on proper financial planning and control, and reinforces essential points through the use of questions within each section.  




Companies who attended our courses

 

 
AG Insurance
Allianz Benelux
Argenta NV
AXA Belgium
Baloise Insurance
Banca Monte Paschi Belgio S.A.
Bank De Groof
Banking Association (Kosovo)
Belfius Investment Partners
BNP Paribas Fortis
Bpost Bank
Buy Way
CBC Bank
Cegeka
Celio Finance SPRL
Credendo
Delen Private Bank
Delta Lloyd Life
Deutsche Bank AG
DKV Belgium
Ethias SA
Euler Hermes Services
Euroclear Bank SA/NV
Euroclear Investments
Europ Assistance
European Investment Bank - EIB (Luxembourg)
European Union - EDFIMC / ElectriFI
Flanders Investment & Trade
Gras Savoye Belgium
Incofin Investment Management
ING Bank België
KBC Bank
Mastercard
Ministry of European Integration (Kosovo)
National Bank of Belgium
NN Insurance Belgium
Petercam
Record Bank
Société Générale Private Banking
SWIFT
The Royal Bank of Scotland (RBS)
Triodos Bank
VGD International -Audit & Tax
Wolters Kluwer Financial Services
Zurich Insurance plc, Belgium branch
Vanbreda International
 
 
 
Afton Chemical SPRL
Air Liquide
Allnex Belgium SA/NV
ANL Plastics
Ansell
ARC EUROPE SA
Arcelor Mittal ( Belgium & Luxembourg)
Axalta Coating Systems 
BASF Antwerpen
BASF Belgium Coordination Center
Beaulieu International Group
Bekaert
Borealis Polymers NV
Bridgestone Europe SA
CNH Industrial Belgium NV
Cofely Fabricom
Cytec Belgium
DOMO Chemicals (Germany)
Donaldson
Dow Corning
Electrolux Appliances AB - EMA- EMEA (SEE)
Engineered Pressure Systems International
European Owens Corning Fiberglas
Fost Plus
GDF Suez
Griffith Foods
Hamon & Cie
Heraeus Electro-Nite International NV
Jacobs Belgium
KODAK SA/NV
Milliken Europe
Niko Group
NXP Semiconductors - Prodis  (Netherlands)
SOLVAY
SPX Cooling Technologies
Synventive Molding Solutions (Germany)
TERUMO EUROPE
Tessenderlo
Vinçotte International
VPK Packaging Group NV
WABCO
Yara Belgium NV
 
 
 
 
 
Antwerp World Diamond Centre
AVEVE Biochem NV
Carrefour Belgium
Delhaize Corporate Group
Godiva
IKEA 
 
Abbott Logistics B.V. (Netherlands)
AbbVie (Canada)
Agfa HealthCare NV
Alcon
Alcon-Couvreur
Amplifon
AZ Sint-Blasius
Baxter International (Austria)
Catalent Pharma Solutions
CinnaGen (Tehran)
Datwyler Pharma Packaging International
Groep OZ ESV
Hologic
Landelijke Christelijke mutualiteit (LCM)
Mutualités Libres: MLOZ
Novartis Pharma
SA Bristol- Myers Squibb Belgium NV
Stryker (Netherlands)
Terumo BCT Europe NV
UCB
Zorgbedrijf Antwerpen
 
 
 
AW Europe
Belgacom
Belgian Nuclear Research Centre (SCK-CEN)
CISCO
Corelio Printing
De Persgroep Publishing nv
EDF Luminus
Elia System Operator
Engie Electrabel NV/SA
Eni Gas & power
Fluxys Belgium
INFRABEL
Itineris NV
KEYRUS
M-Team
NRB
ORANGE
Proximus
Siemens
Telenet
 
 
Agentschap Innoveren en Ondernemen
Europees Parlement
Ministry of European Integration
National Agency for Protection of Personal Data
Nationale Loterij
SD Diensten NV (SD Worx)
SESAR Joint Undertaking
Stad Antwerpen
Stadsbestuur Harelbeke
Syntra Brussel
UGent - FBW
Vrije Universiteit Brussel (VUB)
 
 
 
Acturus sprl
ARC Europe
BDO 
BIA Africa
Bia Overseas
Brooser BE Operations 
Capgemini
Cipal Schaubroeck
Compass-Group
Computacenter
Computer Task Group
Deloitte Accountancy
Egemin International
Enhesa International
FIS (former Clear2Pay)
Interel Group
K&L Gates
Matexi NV
Minds&More
Pricewaterhouse Coopers
PwC Tax Consultants
Securex
Toreon
Vinçotte International sa
 
 
 
Alcopa
Alstom Belgium
ARC Europe 
Brussels Airport Company
De Lijn
D'Ieteren Auto
EUROCONTROL 
Gemeentelijk Havenbedrijf Antwerpen
Globachem nv
GSC Greensea Chartering 
HONDA Motor Logistics
JBT
Neovia Logistics
NMBS
PSA Antwerp nv
Retail & Wholesale
Seatrade Reefer Chartering
Thalys International
Trimble T&L
Volkswagen Group Services
Wallenius Wilhelmsen Logistics Zeebrugge NV
Westlandia
Witzenmann Benelux nv
 
 
 

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