Cost Budgeting & Control (Karachi)

COURSE DESCRIPTION

The cut throat competition and regulatory requirements has placed business organization in an environment of extreme profit squeeze. In this situation, controlling costs associated to production, distribution, and managing the business process assumes significant importance. This course offers an opportunity for decision makers to improve their skills in managing and controlling their organization for greater growth and better profitability. It aims in (1) developing an understanding of the nature and pattern of business costs and their behavior, (2) based on this analysis developing an understanding of cost control through budgetary and standard costing methods.

COURSE CONTENTS

• Nature and behavior of different kinds of costs.
• Budgeting techniques.
• Preparation of sales budget, procurement budget, production budget, stock budget, cash budget, flexible budget, etc.
• Material and labor costs.
• Analysis and relationship with volume.
• BEP in budgeting for better cost control.
• Calculation and application of various tools used in capital budgeting process.

LEARNING OUTCOMES

• Understand various kinds of cost
• Role of budgeting in management
• Preparation of master budget
• Evaluate and control prime costs
• Analyze and control of Factory Overhead cost
• Analyze breakeven point
• Make Capital budgets