Effective Budgeting & Cost Control Course

Effective Budgeting & Cost Control

Delivery:

Various

Effective Budgeting & Cost Control

For group bookings, to discuss tailored delivery or for any questions about this course, please get in touch:

Course Overview

 

Planning and budgeting are must-have skills for all professionals regardless of their function or managerial level. This course covers the concept of budgeting as a planning tool. A financial device and a control mechanism. In addition, it provides the necessary application tools required to make long-term and short-term planning decisions.

 

Learning Objectives

 

By the end of the course, participants will be able to:

 

  • Define the importance of linking an organisation’s budget with its strategic plan
  • Demonstrate how the budget relates to the key financial statements: balance sheet, income statement, and cash flow
  • Prepare the key elements of an operating and capital budget and evaluate the different budgeting approaches used
  • Apply cost control tools, analyse management variance reports and take proper corrective action
  • Calculate different capital budgeting evaluation techniques as included in a capital expenditure proposal
  • Utilise cost-volume-profit analysis in making budgeting decisions

Course Modules

 

Day 1: Budgeting and Control as Critical Features of the Organisation

 

  • Planning and the functions of management
  • The key financial statements
  • Budgeting: process and approaches

 

Day 2: The Key Activities and Techniques

 

  • Cost control
  • Capital expenditure budgeting and analysis
  • Cost-Volume-Profit analysis (CVP)

For group bookings, to discuss tailored delivery or for any questions about this course, please get in touch:

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