Effective Budgeting and Operational Cost Control

Effective Budgeting and Operational Cost Control


Choose from the following table the course date which you would like to attend the course on :

Sart
End
Fees
Venue
Length
25-Mar-2018
29-Mar-2018
7500$
Istanbul (Turkey)
One Week
Click Here
18-Mar-2018
22-Mar-2018
4700$
Dubai (UAE)
One Week
Click Here
25-Mar-2018
29-Mar-2018
6950$
Paris (France)
One Week
Click Here
8-Apr-2018
12-Apr-2018
4700$
Kuala Lumpur (Malaysia)
One Week
Click Here
1-Apr-2018
5-Apr-2018
5700$
London (UK)
One Week
Click Here
27-May-2018
31-May-2018
7500$
Istanbul (Turkey)
One Week
Click Here
13-May-2018
17-May-2018
4700$
Dubai (UAE)
One Week
Click Here
27-May-2018
31-May-2018
6950$
Paris (France)
One Week
Click Here
3-Jun-2018
7-Jun-2018
4700$
Kuala Lumpur (Malaysia)
One Week
Click Here
24-Jun-2018
28-Jun-2018
5700$
London (UK)
One Week
Click Here
22-Jul-2018
26-Jul-2018
7500$
Istanbul (Turkey)
One Week
Click Here
1-Jul-2018
5-Jul-2018
4700$
Dubai (UAE)
One Week
Click Here
22-Jul-2018
26-Jul-2018
6950$
Paris (France)
One Week
Click Here
5-Aug-2018
9-Aug-2018
4700$
Kuala Lumpur (Malaysia)
One Week
Click Here
19-Aug-2018
23-Aug-2018
5700$
London (UK)
One Week
Click Here
16-Sep-2018
20-Sep-2018
7500$
Istanbul (Turkey)
One Week
Click Here
23-Sep-2018
28-Sep-2018
4700$
Dubai (UAE)
One Week
Click Here
16-Sep-2018
20-Sep-2018
6950$
Paris (France)
One Week
Click Here
7-Oct-2018
11-Oct-2018
4700$
Kuala Lumpur (Malaysia)
One Week
Click Here
14-Oct-2018
18-Oct-2018
5700$
London (UK)
One Week
Click Here
11-Nov-2018
15-Nov-2018
7500$
Istanbul (Turkey)
One Week
Click Here
18-Nov-2018
22-Nov-2018
4700$
Dubai (UAE)
One Week
Click Here
11-Nov-2018
15-Nov-2018
6950$
Paris (France)
One Week
Click Here
23-Dec-2018
27-Dec-2018
4700$
Kuala Lumpur (Malaysia)
One Week
Click Here
2-Dec-2018
6-Dec-2018
5700$
London (UK)
One Week
Click Here
6-Jan-2019
10-Jan-2019
7500$
Istanbul (Turkey)
One Week
Click Here
27-Jan-2019
31-Jan-2019
4700$
Dubai (UAE)
One Week
Click Here
6-Jan-2019
10-Jan-2019
6950$
Paris (France)
One Week
Click Here
17-Feb-2019
21-Feb-2019
4700$
Kuala Lumpur (Malaysia)
One Week
Click Here
10-Feb-2019
14-Feb-2019
5700$
London (UK)
One Week
Click Here

Intorduction

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.

This course will feature:

  • The management system in practice;
  • Budgeting practices;
  • Traditional and innovative tools for budgeting and cost control;
  • Multiple cost analysis for different purposes;
  • KPIs and the Balanced Scorecard.

Objectives

  • Master the budgeting process
  • Understand costs behavior
  • Explore traditional & innovative approaches to Budgeting & Cost Control
  • Analyze process costing
  • Manage balanced scorecard

Day One

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 & Discussion

Day Two

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 & Discussion

Day Three

Cost Analysis

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

Day Four

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

Day Five

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

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