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Budgeting and Cost Control

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What I will learn?

  • -Budgets and Models as a critical element of management and financial strategy
  • -The analysis of opportunities, risks, and rewards in the context of Capital Projects
  • -Controlling costs by analysis, modeling, KPI’s and review of the cost drivers
  • -Develop a broader view in the context of the enterprise’s objectives and constraints

Course Curriculum

Module 1: The need for Financial Control in Business
Understanding accounting principles and methods 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 organization’s financial position Key aspects of managing working capital

  • Understanding Accounting Principles and Methods: Lesson 1

Module 2: Budget Construction and Control
Nature and purpose of budgets for planning and control Types of budgets and budgeting Creating Key Performance Indicators for financial and non-financial performance Building a budget Budgetary control and variance analysis Budgeting for non-financial measures -introducing the Balanced Scorecard

Module 3: Full Costing, Marginal Costing and Activity Based Costing
Direct and indirect costs in budgeting for decision making Role of costs in pricing strategies Activity Based Costing (ABC) Managing cost control

Module 4: Cost Analysis and Management
Understanding cost structure and behavior Costs as a relationship to outputs – cost/volume/price relationship The concept of contribution margin Break-even analysis for planning and control Cost allocation and apportionment Benefit-cost analysis

Module 5: Capital Budgeting and Investment Appraisal
The time value of money Understanding Appraisal Techniques – Net Present Value (NPV), Internal Rate of Return (IRR) and Payback period Probability Models (Monte Carlo), Stress Testsand Value at Risk (VaR) The use of Sensitivity analysis in evaluating projects Strategic considerations in assessing capital projects Creating an effective Capital Budgeting framework

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Target Audience

  • Financial Professionals and Accountants
  • Business Managers and Decision Makers
  • Project Managers and Engineers
  • Professionals Seeking Certification
  • Anyone Looking to Improve Financial Performance
  • Individuals Seeking Professional Recognition


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