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Effective Budgeting and Cost Control

Why Attend

Planning and budgeting are must-have skills for all professionals, regardless of their function or managerial level. This course covers the concept of budgeting as a planning tool, a financial device, and a control mechanism. In addition, it provides the necessary application tools required to make long-term and short-term planning decisions.

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Course Methodology

This course focuses on exercises, case studies, and individual and group presentations.

Course Objectives

By the end of the course, participants will be able to:

Defend the importance of linking an organization's budget with its strategic plan
Demonstrate how the budget relates to the balance sheet, income statement, and cash flow statement
Prepare the key elements of an operating and capital budget and evaluate the different budgeting approaches used
Apply cost control tools, analyze management variance reports, and take proper corrective action
Calculate different capital budgeting evaluation techniques as included in a capital expenditure proposal
Utilize cost-volume-profit analysis in making budgeting decisions

Target Audience

All managers, supervisors and analysts who prepare or use management budgets.

Target Competencies

Interpreting financial statements
Planning and budgeting
Cost control
Capital budgeting
Applying cost-volume-profit analysis
Utilizing breakeven analysis

Note

This course is worth 25 NASBA CPEs

Planning and the Functions of Management
- The critical functions of management
- Budget as a planning tool
- Control: The missing link
- Roadmap to strategy
- Aligning the budget with the organization’s strategy
- Planning pitfalls
The Key Financial Statements
- The accounting system
- The income statement
- The balance sheet
- Retained earnings
- The cash flow statement
Budgeting: Process and Approaches
- The advantages of budgeting
- The budget process
- Rolling budgets
- Direct and indirect costs
- The master budget
- Operating and capital budgets
- Approaches to budgeting:
  - Incremental budgeting
  - Zero-based budgeting
  - Flexible budgeting
  - Kaizen budgeting and continuous improvement
  - Activity-based budgeting
- Tools of forecasting
- Characteristics of an adequate budget
- Problems in budgeting
Cost Control
- Budget as a control tool
- The control process
- Characteristics of an effective control system
- Responsibility reporting
- Variance analysis:
  - Identifying the components of variance
  - Taking the corrective action
Capital Expenditure Budgeting and Analysis
- Time value of money
- The discount rate: Using cost of capital
- Simple versus compound interest
- Identifying and analyzing cash flows
- Net Present Value (NPV)
- Internal Rate of Return (IRR)
- Profitability Index (PI)
- Pay-Back Period (PBP)
- Accounting Rate of Return (ARR)
- Approval for Expenditure (AFE)
- Sensitivity and risk analysis
Cost Volume Profit Analysis (CVP)
- Defining fixed costs
- Defining variable costs
- Breakeven point in units
- Breakeven point in dollars
- Computing breakeven point in sales
- Sensitivity analysis: Changing assumptions

National Association of State Boards of Accountancy (NASBA)

Meirc Training & Consulting is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Field of Study : Finance

Prerequisites : None

Advanced Preparation : None

Delivery Method : Group Live

Number of CPE credits : 25

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2025 Schedule & Fees

Per participant

2 - 6 Nov, 2025
Arabic
Dubai
Paramount Hotel Midtown

Per participant

7 - 11 Dec, 2025
English
Dubai
JW Marriott Marquis

2026 Schedule & Fees

Per participant

8 - 12 Feb, 2026
Arabic
Dubai
Venue to be assigned

Per participant

14 - 18 Jun, 2026
English
Dubai
Venue to be assigned

Per participant

2 - 6 Aug, 2026
Arabic
Dubai
Venue to be assigned

Per participant

13 - 17 Sep, 2026
English
Dubai
Venue to be assigned

Per participant

8 - 12 Nov, 2026
Arabic
Dubai
Venue to be assigned

Per participant

20 - 24 Dec, 2026
English
Dubai
Venue to be assigned

This course is also offered in Virtual Learning, click on the course below.

Effective Budgeting and Cost Control - Virtual Learning

8 - 12 Feb, 2026

Arabic

Virtual Learning

Effective Budgeting and Cost Control - Virtual Learning

14 - 18 Jun, 2026

English

Virtual Learning

Effective Budgeting and Cost Control - Virtual Learning

2 - 6 Aug, 2026

Arabic

Virtual Learning

Overview

Course Methodology

This course focuses on exercises, case studies, and individual and group presentations.

Course Objectives

By the end of the course, participants will be able to:

Defend the importance of linking an organization's budget with its strategic plan
Demonstrate how the budget relates to the balance sheet, income statement, and cash flow statement
Prepare the key elements of an operating and capital budget and evaluate the different budgeting approaches used
Apply cost control tools, analyze management variance reports, and take proper corrective action
Calculate different capital budgeting evaluation techniques as included in a capital expenditure proposal
Utilize cost-volume-profit analysis in making budgeting decisions

Target Audience

All managers, supervisors and analysts who prepare or use management budgets.

Target Competencies

Interpreting financial statements
Planning and budgeting
Cost control
Capital budgeting
Applying cost-volume-profit analysis
Utilizing breakeven analysis

Note

This course is worth 25 NASBA CPEs

Course Outline

Planning and the Functions of Management
- The critical functions of management
- Budget as a planning tool
- Control: The missing link
- Roadmap to strategy
- Aligning the budget with the organization’s strategy
- Planning pitfalls
The Key Financial Statements
- The accounting system
- The income statement
- The balance sheet
- Retained earnings
- The cash flow statement
Budgeting: Process and Approaches
- The advantages of budgeting
- The budget process
- Rolling budgets
- Direct and indirect costs
- The master budget
- Operating and capital budgets
- Approaches to budgeting:
  - Incremental budgeting
  - Zero-based budgeting
  - Flexible budgeting
  - Kaizen budgeting and continuous improvement
  - Activity-based budgeting
- Tools of forecasting
- Characteristics of an adequate budget
- Problems in budgeting
Cost Control
- Budget as a control tool
- The control process
- Characteristics of an effective control system
- Responsibility reporting
- Variance analysis:
  - Identifying the components of variance
  - Taking the corrective action
Capital Expenditure Budgeting and Analysis
- Time value of money
- The discount rate: Using cost of capital
- Simple versus compound interest
- Identifying and analyzing cash flows
- Net Present Value (NPV)
- Internal Rate of Return (IRR)
- Profitability Index (PI)
- Pay-Back Period (PBP)
- Accounting Rate of Return (ARR)
- Approval for Expenditure (AFE)
- Sensitivity and risk analysis
Cost Volume Profit Analysis (CVP)
- Defining fixed costs
- Defining variable costs
- Breakeven point in units
- Breakeven point in dollars
- Computing breakeven point in sales
- Sensitivity analysis: Changing assumptions