Budgeting & Cost Control

The effective management of budgeting and cost control is crucial for contemporary organizations. Nowadays, if companies want to stay competitive, they are urged to think in terms of process-value added to customers/shareholders.

 It is essential value is increased for the stakeholder while the organisation controls their business processes and budget. This has led to an amplified focus on budget management, operational cost control and tracking critical business processes.

This program has been developed for professionals who are responsible for improving the performance of a team or department while simultaneously reducing costs where necessary.

Through the use of a combination of technical analysis, problem solving and case studies this course will provide the delegate with the latest innovations in essential budgetary and cost awareness analysis that would stand up to the most rigorous of external scrutiny.

Objectives:

By the end of this Budgeting and Cost Control Course, you will able to:

• Understand the peaks and troughs of income and expenditure
• Learn costing and budgeting terminology used in business
• Master techniques for cost-benefit analysis
• Learn how to construct profit, cash and balance sheet plans and budgets
• Learn how to evaluate variances from plan and identify corrective actions
• Cover the different types of cost
• Evaluate the differences between traditional and innovative budget analysis
• Understand Activity Based Budgeting
• Capital Budgeting Techniques and Cash Flow
• Understand the key financial indicators and how to monitor accordingly
• The role of project management within cost control
• Evaluate the connection between budget processes and business improvement