Effective Budgeting & Cost Control

Details :

This program offers an opportunity to acquire and then deploy new skills and ideas to achieve improved financial operations and strategies. The knowledge acquired will enhance the budget process and control processes through a variety of strategies and techniques that will provide new insights to how financial performance can be enhanced.  In this programme you will participate in many aspects of modern thinking. It describes budgets and models as a key element of management and financial strategy. Participants will learn the analysis of opportunities, risks and rewards in the context of Capital Projects. They will also learn about controlling costs by analysis, modelling, KPI’s and review of the cost drivers

  • Acquiring costing and budgeting terminology and techniques
  • Understanding the importance of a well-defined budget process and create budgets relevant to your organisation
  • Examining role of finance in budgeting and cost control
  • Mastering methods for risk, payback and cost-benefit analysis
  • Understanding the effective capital management after completing cost and budgeting processes
  • Financial Professionals
  • Sales/Marketing Professionals
  • General Accounting Professionals
  • Business Unit Professionals
  • Anyone who wants to refine and advance their budgeting and costing knowledge

Day 1

  • Cost, Expense and Budget Relationship
  • Role of Cost Management and Budgeting for Managerial Decisions
  • Cost Terminology, types and components of costs
  • Types of Budgets

Day 2

  • Cost Drivers
  • Cost allocation and apportionment
  • Standard Costing Calculation
  • Activity-Based Costing Calculation
  • Cost and Quality

Day 3

  • Building a Master Budget
  • Flexible Budgets
  • Budgetary Control and Variance Analysis
  • Role of Finance in cost control: Key Performance Indicators
  • Balanced Scorecards: Strategic-Based Control

Day 4

  • Cost Behaviour Analysis
  • Role of Cost in Pricing, full and marginal costing pricing
  • Break-Even and Target Income
  • Sensitivity Analysis
  • Inventory Management

Day 5

  • Time Value of Money 
  • Cost of Capital and Hurdle Rate for capital projects
  • Valuation Technics (Net Present Value, Internal Rate of Return, Payback Period)
  • Probability Models to Evaluate Projects (Monte Carlo Simulation, Stress Tests and Value at Risk Models)


  • All lectures are in colorful presentation
  • All lectures are interspersed with interactive discussion
  • All lectures include group discussion, case history and exercises
  • Actual major incidents as well as industry experience are reviewed
  • Participants receive a multicolor course manual
  • Pictures of real incidents and case history are shown
  • Videos on the subject are shown

Daily from 09:00 – 14:30 including coffee breaks