Budgeting and Cost Control
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Course Details
- Introduction
- Objective
- Who should attend
- Course Location
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.
Course Outline
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
