Effective Budgeting & Cost Control

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.
In addressing these issues, this course is relevant for those professionals and analysts facing the difficult challenge of improving performance while reducing costs of those processes for which there are accountable.

• Master the budgeting process
• Understand costs behavior
• Explore traditional & innovative approaches to Budgeting & Cost Control
• Analyze process costing
• Manage balanced scorecard
• Demonstrate how the budget relates to the key financial statements: balance sheet, income statement, and cash flow.

• Prepare a budget consistent with the organization’s strategic plan.
• Use appropriate estimation techniques in the development of revenue and expense budgets.
• Identify all the appropriate costs to be included in a capital expenditure proposal.
• Apply cost control tools, analyze management variance reports and take proper corrective action.

• Middle Management
• Operations
• Middle and Back Office
• Financial and Product Control
• Finance Business Partners
• Planning and Budgeting

• Management, Statutory and Regulatory Reporting
• Auditors and Internal Control
• Risk and Compliance Regulators
• Accountants and Consultants
• Graduate and Management Trainees