- Journey/ Challenge
The company had minimal budgeting efforts and it was unable to determine the man-day cost and the rate to charge to ensure achieving net profit. Thus, a Budgeting Exercise was implemented to set a costing model.
- Project Objectives
To calculate the man-day cost and the associated price to achieve certain net profit
Business Assessment to understand the areas that need development. Bill quick workshop: Full orientation on the use of bill quick Breakeven Analysis: Calculating the man-day cost Calculating the allocation rate. Calculating the amount of sales required to reach the desired after-tax net profit Budget Workshop: Budget process presentation. Classifying types of business cost. Forecast methods.
Understanding the importance of the budget exercise and the Ability to classify the different types of business cost. Understand the forecasts methods. Calculating the man-day cost and the price to charge. Using breakeven analysis to determine the volume of sales to reach certain after-tax net profit. Ability to start utilizing the Billquick software.
- Budgeting Process
- Breakeven Model
- Breakeven presentation