A highly interactive training course on

The Essentials of Budgeting & Cost Control

Practical Financial Planning and Budgetary Control

Course Schedules

London

03-07 Feb 2025

$5,950

Sao Paulo

07-11 Apr 2025

$5,950

Dubai

28 Apr-02 May 2025

$5,950

London

28 Jul-01 Aug 2025

$5,950

Sao Paulo

11-15 Aug 2025

$5,950

Dubai

10-14 Nov 2025

$5,950

Sao Paulo

24-28 Nov 2025

$5,950

Training course overview

Budgeting and Cost Control are essential for managing contemporary organizations effectively. This Coventry Academy training course is designed to help you master crucial internal tools for planning, monitoring, and sustaining performance over time. Understanding the link between budgeting and strategy formulation is key, as accurate budgets rely on precise cost control and analysis. This course will equip you with both traditional and modern approaches to budgeting and cost control, enabling you to produce realistic plans and allocate resources effectively in today's complex business environment.

What are the goals?

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

Master the Essential Component of Costing and Budgeting
Understand Fixed and Variable Costs, Direct and Indirect, OPEX and CAPEX
Link innovative approaches to Cost Savings
Improve Capital Budgeting
Measure and Manage the Performances that Matters

Who is this training course for?

This Coventry Academy training course is suitable to a wide range of professionals but will greatly benefit those with direct or indirect budget responsibilities within a Team, Department or Division.

Moreover, the training course is suitable to first appointment professionals on fast-track development programs, and to professionals from every business discipline and department who have to run budgetary plans, and who are responsible for cost and strategic analysis, including:

Financial Planning & Control Staff
Those With Direct or Indirect Financial Responsibilities
Those From Every Business Discipline and Department Who Have to Run Departments and Budgetary Plans, and Who are Responsible for Cost and Strategic Analysis
Those From All Sectors of Industry, Irrespective of Functional Responsibilities, but Particularly Those Involved in Manufacturing, Production, Engineering or Sales
Those Working in a Project Management Environment

Course Outline

Day One: Management Control

Budget target-setting, participation and control
Strategic planning, budgeting and management control systems
Key elements of planning: setting objectives, and responsibility accounting
The role of financial control, and management accounting concepts
Advantages and disadvantages of budgeting
Budgeting within your organisation

Day Two: Budgeting and Cost Control

The essential stages of the budgeting process
Types of budgets, incremental and zero-based budgeting
Budget preparation: operating budgets and cash budgets
Variable costs and fixed costs
Contribution and marginal costing
Decision-making using marginal costing, and cost/volume/profit (CVP) analysis

Day Three: Traditional, and Activity Based Costing & Budgeting

Costs and activities
Direct costs and indirect costs, product costs and period costs
Cost allocation and absorption costing
Product cost cross-subsidisation, and activity-based costing (ABC)
Activity based budgeting (ABB)
Budgetary control: standard costs, flexed budgets and variance analysis

Day Four: Capital Budgeting

Capital investment costs and operating costs
Accounting rate of return (ARR) and payback
Discounted cash flow (DCF), and net present value (NPV)
Cost of equity, cost of debt, and the weighted average cost of capital (WACC)
Internal and modified internal rate of return (IRR/MIRR), and discounted payback
Capital rationing, budgeting and the profitability index (PI)

Day Five: Linking Financial and Non-Financial KPIs