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A highly interactive training course on

Effective Budgeting & Operational Cost Control

Planning, Managing and Measuring Performance for Organisational Success
Coventry Academy - Effective Budgeting & Operational Cost Control
5
Days

Course Schedules

 Houston
 10-14 Feb 2025
 $6,950
 London
 21-25 Apr 2025
 $5,950
 Dubai
 21-25 Jul 2025
 $5,950
 London
 15-19 Sep 2025
 $5,950
 Dubai
 03-07 Nov 2025
 $5,950
 Kuala Lumpur
 08-12 Dec 2025
 $5,950

Training course overview

This training course emphasizes the crucial aspects of managing financial performance through effective budgeting and operational cost control. These practices enable organizations to remain competitive by adopting best practices and utilizing appropriate planning and control tools, ultimately adding value for customers and shareholders. Key activities include budget preparation, analysis, and management of costs to ensure alignment with long-term strategies.

Designed for individuals involved in the budgeting process and cost management—whether at the departmental, business unit, project, or organizational level—this course provides essential insights and skills.

Course Features:

  • Practical applications of management accounting
  • Overview of the budgeting process and best practices
  • Exploration of traditional and alternative budgeting and cost control methods
  • Understanding the purposes and benefits of cost analysis
  • Key Performance Indicators (KPIs) and the balanced scorecard framework

What are the goals?

By attending this Coventry Academy training course you should achieve these goals:

  • 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 Coventry Academy 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

Course Outline

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

  • Coventry Academy Certificate of Attendance will be provided to delegates who attend and complete the course

Coventry Academy
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