Effective Budgeting and Operational Cost Control

Course Info

Length: 1 Week

City: London

Type: In Classroom

Available Dates

  • Apr-29-2024

    London

  • May-27-2024

    London

  • June-24-2024

    London

  • July-29-2024

    London

  • Aug-26-2024

    London

  • Sep-30-2024

    London

  • Oct-28-2024

    London

  • Nov-25-2024

    London

  • Dec-30-2024

    London

Dates in Other Venues

  • Apr-01-2024

    Kuala Lumpur

  • Apr-01-2024

    Istanbul

  • Apr-08-2024

    Paris

  • Apr-08-2024

    Singapore

  • Apr-15-2024

    Barcelona

  • Apr-15-2024

    Dubai

  • Apr-22-2024

    Amsterdam

  • Apr-22-2024

    Kuala Lumpur

  • Apr-29-2024

    Istanbul

  • May-06-2024

    Kuala Lumpur

  • May-06-2024

    Istanbul

  • May-13-2024

    Paris

  • May-13-2024

    Singapore

  • May-20-2024

    Dubai

  • May-20-2024

    Barcelona

  • May-27-2024

    Amsterdam

  • June-03-2024

    Istanbul

  • June-03-2024

    Kuala Lumpur

  • June-10-2024

    Paris

  • June-10-2024

    Singapore

  • June-17-2024

    Barcelona

  • June-17-2024

    Dubai

  • June-24-2024

    Amsterdam

  • July-01-2024

    Kuala Lumpur

  • July-01-2024

    Istanbul

  • July-08-2024

    Singapore

  • July-08-2024

    Paris

  • July-15-2024

    Barcelona

  • July-15-2024

    Dubai

  • July-22-2024

    Kuala Lumpur

  • July-22-2024

    Amsterdam

  • July-29-2024

    Istanbul

  • Aug-05-2024

    Istanbul

  • Aug-05-2024

    Kuala Lumpur

  • Aug-12-2024

    Paris

  • Aug-12-2024

    Singapore

  • Aug-19-2024

    Barcelona

  • Aug-19-2024

    Dubai

  • Aug-26-2024

    Amsterdam

  • Sep-02-2024

    Istanbul

  • Sep-02-2024

    Kuala Lumpur

  • Sep-09-2024

    Singapore

  • Sep-09-2024

    Paris

  • Sep-16-2024

    Barcelona

  • Sep-16-2024

    Dubai

  • Sep-23-2024

    Kuala Lumpur

  • Sep-23-2024

    Amsterdam

  • Sep-30-2024

    Istanbul

  • Oct-07-2024

    Kuala Lumpur

  • Oct-07-2024

    Istanbul

  • Oct-14-2024

    Singapore

  • Oct-14-2024

    Paris

  • Oct-21-2024

    Barcelona

  • Oct-21-2024

    Dubai

  • Oct-28-2024

    Amsterdam

  • Nov-04-2024

    Istanbul

  • Nov-04-2024

    Kuala Lumpur

  • Nov-11-2024

    Paris

  • Nov-11-2024

    Singapore

  • Nov-18-2024

    Barcelona

  • Nov-18-2024

    Dubai

  • Nov-25-2024

    Amsterdam

  • Dec-02-2024

    Istanbul

  • Dec-02-2024

    Kuala Lumpur

  • Dec-09-2024

    Paris

  • Dec-09-2024

    Singapore

  • Dec-16-2024

    Dubai

  • Dec-16-2024

    Barcelona

  • Dec-23-2024

    Amsterdam

  • Dec-23-2024

    Kuala Lumpur

  • Dec-30-2024

    Istanbul

Course Details

Course Outline

5 days course

 

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

 

The Budgeting Process

 

  • The key features of budgeting
  • Advantages and concerns with budgeting
  • Accountability and centers of responsibility
  • Zero-based budgeting
  • Budgeting and cost control
  • Examples and Discussion

 

Cost Analysis

 

  • Different costs for different purposes
  • Fixed vs. Variable costs
  • The Cost-Volume-Profit analysis model
  • Contribution Margin analysis
  • Examples and Discussion

 

Traditional vs. Advanced Techniques in Cost-Control

 

  • Under-costing and over-costing: The consequences for profitability
  • Indirect (OH) vs. Direct costs
  • Traditional Cost Allocations systems vs. Activity-Based Costing (ABC)
  • Linking resources, activities and management
  • Variance analysis
  • Video, Case Study and Examples

 

Beyond the Budgets: Balanced scorecards and Six-sigma
 
  • Broadening performance measurement systems
  • Beyond budgeting: Integrating financial and non-financial issues
  • Introducing the Balanced Scorecard
  • Introducing the Strategy maps
  • Introducing Six-sigma
  • Video, Case Study and examples

Course Video