Search courses 👉
Professional Training

Budgeting and Cost Control

London Premier Centre, In London (+7 locations)
Length
5 days
Price
3,750 - 4,600 GBP excl. VAT
Next course start
25 November, 2024 (+10 start dates)
Course delivery
Classroom
Length
5 days
Price
3,750 - 4,600 GBP excl. VAT
Next course start
25 November, 2024 (+10 start dates)
Course delivery
Classroom
Leave your details so the provider can get in touch

Course description

The effective management ofbudgeting and cost controlis 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.

Upcoming start dates

Choose between 10 start dates

25 November, 2024

  • Classroom
  • Amsterdam

25 November, 2024

  • Classroom
  • London

2 December, 2024

  • Classroom
  • Istanbul

2 December, 2024

  • Classroom
  • Kuala Lumpur

9 December, 2024

  • Classroom
  • Paris

9 December, 2024

  • Classroom
  • Singapore

16 December, 2024

  • Classroom
  • Barcelona

16 December, 2024

  • Classroom
  • Dubai

23 December, 2024

  • Classroom
  • London

30 December, 2024

  • Classroom
  • Amsterdam

Suitability - Who should attend?

This Budgeting and Cost Control Course ideal for:

  • Those in charge for designing and managing a budgetary system
  • The staff person who will be responsible for entering data into the budget system or training others how to enter information
  • Those who want to gain control of the firm's financial standing and obtain a firm grasp on the numbers side of their job
  • Financial professionals, R&D professionals, sales/marketing professionals, general accounting professionals, business unit professionals
  • Anyone who wants to understand the basics of budgeting, costing and performance measurement

Outcome / Qualification etc.

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

Training Course Content

Day 1

The need for Financial Control in business

  • Understanding accounting
  • Management accounting versus financial accounting
  • The relationship between business management and financial management
  • How budgeting fits into the bigger picture
  • How cost management improves an organisation’s financial position
  • Key aspects of managing working capital

Day 2

Capital Budgeting and Investment Appraisal

  • The time value of money
  • Understanding Appraisal Techniques – Net Present Value (NPV), Internal Rate of Return (IRR) and Payback period
  • Selecting an appraisal technique
  • The use of Sensitivity analysis in evaluating projects
  • Strategic considerations in assessing capital projects
  • Creating an effective Capital Budgeting framework

Day 3

Cost Analysis and Management

  • Understanding cost structure and behaviour
  • Costs as a relationship to outputs – cost/volume/price relationship
  • The concept of contribution margin
  • Break-even analysis for planning and control
  • Cost allocation and apportionment
  • Benefit-cost analysis

Day 4

Full Costing, Marginal Costing and Activity Based Costing

  • Comparing full and marginal costing
  • Direct and indirect costs in budgeting for decision making
  • Role of costs in pricing strategies
  • Activity Based Costing (ABC)
  • Managing cost control

Day 5

Budget Construction and Control

  • Nature and purpose of budgets for planning and control
  • Types of budgets and budgeting
  • Creating Key Performance Indicators for financial and non financial performance
  • Building a budget
  • Budgetary control and variance analysis
  • Budgeting for non-financial measures -introducing the Balanced Scorecard

Request info

Contact form

Fill out your details to find out more about Budgeting and Cost Control.

  Contact the provider

  Get more information

  Register your interest

Country *

reCAPTCHA logo This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
London Premier Centre
47-49 Park Royal Road
NW10 7LQ London

London Premier Centre

London Premier Centre is a UK leading training provider based in London and specialises in international short courses. Our inspiring, comprehensive portfolio of more than 400 professional development courses and seminars covers a wide range of professions from Administration, Leadership,...

Read more and show all courses with this provider

Ads