Effective Budgeting and Operational Cost Control
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Course Details
- Introduction
- Objective
- Who should attend
- Course Location
The effective management of budgets and operational cost is a key aspect in leading and managing organizations. Nowadays, if contemporary organizations want to stay competitive, they are urged to think, plan and act in terms of value added to customers and shareholders. Along this line, budgeting, as well as tracking, controlling & reducing cost represent essential activities to be performed and monitored as strategies get executed.
To ensure effective financial management of a department or and even the entire organisation, there is the need to prepare a realistic budget and ensure compliance with the approved budget. Furthermore, to ensure this compliance, operational costs need to be monitored and controlled so that as to ensure financial discipline.
Effective Budgeting and Operational Cost Control training course will help participants to understand the main concepts and methodology around cost management and budgeting.
Course Outline
Introduction: Building a Common Financial Language
- The key role of budgeting and cost control in contemporary organizations
- The 21st century business imperative: Delivering value added (but to whom?)
- Financial vs. Managerial accounting (for decision making)
- Understand your processes: Integrating financial and non-financial aspects
- The budgeting process
- Examples and Discussion
