In particular, this BTS training seminar enables participants to:

• Link budgeting and costing with strategy execution
• Understand the critical factors which have an impact on business processes
• Discuss about modern system of cost analysis for budgeting purposes
• Master the budgeting and financial skills required for better decision-making
• Identify sources of financial and operational data to support the budgeting process
• Explore the best practices required to manage the multiple organizational performances

In particular, this BTS training seminar enables participants to:

• Link budgeting and costing with strategy execution
• Understand the critical factors which have an impact on business processes
• Discuss about modern system of cost analysis for budgeting purposes
• Master the budgeting and financial skills required for better decision-making
• Identify sources of financial and operational data to support the budgeting process
• Explore the best practices required to manage the multiple organizational performances

DAY 1

Introduction: The Relevance of Budgeting and Cost Management within Strategy Execution

• The Link between Strategy, Planning, Budgeting and Cost Management
• Why Budgeting and Costing are so important to manage your company?
• Towards a Cross-functional Process-view of the Organization
• Financial vs. Managerial Accounting (where you get information for decision-making)
• Understand your Processes: Integrating Financial and Non-financial Aspects
• Identify and Discuss the Key issues in terms of Budget / Costing for your own Organization
• Discussion

DAY 2

The Budgeting Framework and its Role within the Management Process  

• The Role of Budgeting within Management Accounting
• The Value of Budgeting in your Company
• Behavioral implications of Budgeting
• Key Concepts and Terminology
• Advantages and Disadvantages: Critical issues to be Discussed
• Overview on the Financial Statements - Balance sheet, Income statement and Cash-Flow
• Case Discussion and Examples

DAY 3

Cost Management for Budgeting Purposes

• Cost Concepts and Terminology
• Different Costs for Different Purposes
• Fixed vs. Variable Costs: the Cost-Volume-Profit Analysis Model
• Contribution Margin Analysis
• Manufacturing vs. Non-manufacturing Costs
• Period vs. Product Costs: Inventory Evaluation and Control
• Case Study and Discussions

DAY 4

Case Study Day - Traditional vs. Advanced Techniques in Cost-control

• Under-costing and Over-costing: the Consequences for Profitability
• How to refine a Costing System?
• Indirect vs. Direct costs: Traditional Cost Allocations Systems vs. Activity-Based Costing
• Cost Drivers: linking resources, activities and management
• Introducing Activity-Based Budgeting (ABB) and Management (ABM)
• Case Study Analysis
• Examples and Videos

DAY 5

Broadening the Performance Measurement Systems

• Shortcomings of Traditional Approaches to Budgeting and Performance Measurement
• Need to Linking Financial to Operational Issues
• Recent Best Practices: the Balanced Scorecard and Six-sigma
• Financial Perspective and Customer Perspective
• Internal Business Process Perspective and Learning & Growth perspective
• Developing and Adapting the Scorecard
• Video, Case Study Illustration and Discussion

BTS attendance certificate will be issued to all attendees completing minimum of 75% of the total course duration.

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