Are your financial plans and budgets based on accurate costing of your products and services?
Are your forecasts of sales and costs objective and realistic, or are your budgets perhaps based on ‘what we did last year’ plus a percentage uplift? Many organisations continue to use out-of-date costing systems and information. Many organisations continue to plan and budget using an unrealistic percentage uplift of previous years results.
This COPEX online course includes forecasting techniques and cost behavior analysis, using examples, exercises and real-life case studies throughout to provide attendees with the awareness and essential techniques and skills to prepare more effective financial plans, and budgets for both planning and control.
What are the Goals?
By the end of this COPEX online training course you will be able to:
Analyse the applicability of historical data using Excel® and other techniques
Apply the most appropriate forecasting methods for your specific planning purposes
Understand cost behaviour, and analysis of fixed, variable, semi-fixed, and semi-variable costs
Use alternative costing methods including activity based costing, and activity based budgeting
Provide management information on a more timely and useful basis to decision makers
Who is this Training Course for?
This COPEX online training course is suitable for a wide range of professionals but will greatly benefit:
Professionals who require a more in-depth understanding of integrated planning and budgeting techniques
Accountants responsible for budget preparation and management reporting
Financial planners and cost analysts
Line managers with direct planning and budgeting responsibility
Professional advisers, accounting personnel and business consultants
Among a wide range of valuable topics, the following will be prioritised:
Problems associated with forecasting
Use of historical data to help predict the future
Consideration of alternative forecasting techniques
Development of time series models
Regression analysis as a predictor and an estimator
Use of exponential smoothing as a data analysis tool
Cost behavior, cost analysis and cost-volume-profit analysis
Alternative methods of costing: full absorption costing and marginal costing
Process analysis, defining key activities and key cost drivers
Activity based costing (ABC) and activity based budgeting (ABB)
A COPEX e-Certificate for delegates who attend and complete the online training course
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