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Training Planning Budgeting & Cost Control
Efficient decision making only takes place when managers have all relevant information regarding product costing, planning and control. This training course focuses on different product costing systems and traditional planning and control mechanisms, particularly for the manufacturing industry. Product costing systems are methods for assigning costs to units manufactured or services provided. The type of product costing system an organization employs depends upon the nature of production and the kind of information wanted, among other things. Both traditional product costing systems (job order costing and process costing) and contemporary systems (activity based costing) will be discussed and illustrated using actual examples. The course will also examine how costs are planned and controlled through traditional techniques such as budgeting and standards. The course will also examine aspects of forecasting.
The aims of this course are to:
- Provide participants with the issues and strategies needed to enhance effective decision making.
- To understand the importance of different types of costs eg sunk and to illustrate the use the need for cost attribution and the importance of cost objective.
- Derive breakeven points using various different techniques
- To understand the concept and techniques of price setting
- To be able to make decisions under conditions of risk and uncertainty
- To be able to conduct effective forecasting
- To apply recent innovations in finance to their working environments.
Upon completion of the training course, participants should be able to:
- Evaluate different financial strategies.
- Apply Net Present Value Analysis to accounting decision making;
- Utilize different costing methods and identify which method is more appropriate depending on the context;
- Demonstrate an understanding of the modern management accounting techniques such as Just In Time and Activity Based Costing
- Develop and interpret budgets, paying particular attention to the calculation of variances and explanations of such variances.
- Have an understanding of real options as applied to the oil and gas industry.
The training course will cover the following topics:
Module 1: The Costing and Budgetary Process in the Manufacturing Industry
- Management information systems
- Strategic and tactical information
- Information usefulness.
Module 2: Cost estimation
- Development Costs
- Understanding the nature and behavior of development costs.
- How to control costs during the development phase.
- Production Costs
- Understanding the nature and behavior of production operating costs.
- How to control and analyze production costs.
- Understanding the nature and behavior of drilling expenditure.
- How to estimate the production cost.
- How to control the production cost.
Module 3: Cost Allocation
- Job Order Costing
- Process Costing
- Activity Based Costing
Module 4: Breakeven analysis
- Profit Planning: The relationship between volume, cost and profit.
- Break even analysis.
- Break even points as a tool of budgeting.
Module 5: Budgeting
- Budgeting: Financial budgets and forecasts.
- Steps of proper budgeting Assumptions.
- Data collection.
- Budget formulation: Budget procedure.
- Types of budgets.
- Different kinds of budgeting methods, e.g. zero based, activity based.
- How to develop a budgeting methodology.
- How to evaluate the output from budget preparation.
- Budgetary control.
Module 6: Analysis of variances
- Budget follow-up and reports: Performance review.
- Variance determination.
- Revisions of budgets and forecast.
Module 7: Capital Budgeting
- Pay back Period
- Internal rate of return
- Discounted Cash Flow
- Net Present Value
- Profitability Index
- Hard and Soft Capital Rationing
Module 8: Forecasting
- Correlation Analysis
- Regression Analysis
- Estimation and Making inferences
- Multiple Regression
- Testing the Overall Significance of the Regression
Investasi dan Fasilitas Training
- Harga : (dilampirkan dalam Brosur penawaran)
- Fasilitas : Certificate, Training kits, USB 8 GB, Lunch, Coffe Break, Souvenir, City Tour
- Untuk peserta luar kota disediakan transportasi antar-jemput dari Bandara/Stasiun ke Hotel (berlaku bagi perusahaan yang mengirimkan minimal 2 peserta)
- Quota minimum Running 2 peserta (jogja, Solo, Semarang) Quota minimum Running 3 peserta ( Jakarta & Bandung) – ( Untuk Manado, Bali , Batam, Pontianak, Balikpapan dan Lombok Quota minimal 4 peserta)
Lokasi Training (Tentative) dengan harga yang berbeda
- Hotel Santika Kuta, Bali
- Hotel Nagoya Plaza, Batam
- Hotel Fave, Balikpapan
- Hotel Aston, Manado
- The Santosa Villas and Resort, Lombok
- Hotel Gino Ferucci, Bandung
- Hotel Santika Pandegiling, Surabaya
- Hotel Fave Pasar baru Jakarta, Jakarta
- Hotel Ibis Solo
- Hotel Aston, Pontianak
- Hotel Ibis Simpang Lima, Semarang
- Hotel Ibis Malioboro, Yogyakarta