An intensive professional development training course on
Effective Budgeting
& Operational Cost Control
Planning, Managing and Measuring
Performance for Organisational Success
Brochure
Why Choose this Training Course?
The Effective Budgeting & Operational Cost Control training course emphasizes the critical role of financial performance management in maintaining organizational competitiveness. By focusing on effective budgeting and cost control, participants will learn to adopt best practices and utilize appropriate planning and control tools to deliver value to both customers and shareholders.
This course covers essential activities such as budget preparation, analysis, and cost management, all vital for meeting long-term strategic goals. Designed for anyone involved in budgeting and cost management—whether at the departmental, business unit, project, or organizational level—this training ensures that delegates gain the skills needed to manage budgets effectively and control operational costs.
This AZTech course will feature:
- Practical management accounting applications
- The budget process and best practice
- Traditional and alternative methods of budgeting and cost control
- Purposes and benefits of cost analysis
- KPIs and the balanced scorecard
What are the Goals?
By the end of this training course, participants will be able to:
- Implement the budgeting process
- Identify the various types of cost behaviour
- Consider traditional and innovative approaches to budgeting and cost control
- Carry out cost analysis
- Use a balanced scorecard
Who is this Training Course for?
This AZTech training course is suitable for a wide range of professionals, greatly benefiting those with direct or indirect budget responsibilities within a team, department, division or at the corporate level. This training course is suitable for first appointment professionals on fast-track development programmes, and for all professionals from every business discipline and department who are involved in the budget process, and include those employed in:
- Financial planning, costing and control
- Departmental planning and management
- Cost centre, revenue centre, profit centre, investment centre management
- Manufacturing, production, engineering, human resources, marketing, and sales
- Project management
How will this Training Course be Presented?
This AZTech training course links theory with practice through presentations, discussion, team exercises and case studies. This is complemented with real-life illustrations and examples from the instructors’ wide industrial and commercial experience, all of which completes a mix of proven learning techniques to ensure an enjoyable and optimum learning experience.
The Course Content
Day One: Introduction: Building A Common Financial Language
- The key role of budgeting and cost control in contemporary organisations
- Budgetary planning and control
- The importance of value – for customers and shareholders
- Financial accounting and management accounting
- Integrating the financial and non-financial aspects of budgeting
- Financial planning and the budgeting process
Day Two: The Budgeting Process
- The key features of budgeting
- Advantages and disadvantages of budgeting
- Divisionalisation and responsibility accounting
- Operating budgets: zero-based, incremental, and activity-based
- Capital budgets
- Cash budgets
Day Three: Cost Analysis
- Different costs for different purposes
- Fixed costs and variable costs
- Cost-volume-profit (CVP) analysis
- Contribution and marginal costing
- Absorption costing
- Decision-making
Day Four: Traditional And Advanced Techniques Of Cost Control
- Indirect costs (overheads) and direct costs
- Under-costing and over-costing: the consequences for profitability
- Traditional cost allocation systems and activity based costing (ABC)
- Refinement of the costing system
- Activity based budgeting (ABB)
- Standard costing, flexed budgets, and variance analysis
Day Five: Beyond the Budgets, The Balanced Scorecard And Six Sigma
- Broadening performance measurement systems
- Innovative approaches to costing
- Integrating financial and non-financial performance measures
- The balanced scorecard
- Strategy maps
- Six sigma
The Certificate
- AZTech Certificate of Completion for delegates who attend and complete the training course
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