Successful Cost Management

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  • Fees : 2600 $
  • Date 10 Feb 2019
  • Location Abu Dhabi, English

 

SUCCESFUL Cost MANAGEMENT

 

Course Introduction:

Competitive organizational strategies and plans are usually based on cost effectiveness and even under buoyant markets are the key to continued success. Profit can be halved by waste of scarce resources and requires continual review to ensure that all in house and departmental controlled assets, liabilities, incomes and costs are accountable and measurable.

Budgeting and Cost Control is a positive management function, which is subjected to constant review and justification in accordance to corporate objectives and business strategies.

This program offers a blueprint plan to control and monitor all areas of asset management and income and expenditure utilizing Strategic Business Planning, Budgeting and Cost Control principles and objectives.  

 

Course Learning Objectives:

  • This program is focuses on the principles involved in the preparation functions and reasons for managing business strategies, company assets, liabilities, income and costs through the budgetary control process.

 

  • It will also bring awareness of cost and cost analysis for organizational expenditures and includes successful budget preparation, implementation and reviews techniques.

 

Course Duration: Five Days

 

 

 

Who Should Attend :

The course is aimed at managers, supervisors and technical personnel who need to prepare the annual budget and include costing analysis as part of the financial management process.

 

Course Methodology:

The course includes interactive discussions, case studies and exercises to increase the participants learning potential.

 

Course Content:

  • Introduction to strategic budgeting planning
  • Strategic Budget Units (SBU)
  • Principles of budgeting & cost control
  • Zero Based & Other Budgeting Methods 

 

  • Budgeting Planning & Execution:

 

  • Preparation
  • Meetings
  • Construction
  • Presenting
  • Implementing
  • Review
  • Standard costing
  • Variance analysis / action plans

 

  • Cost Analysis Techniques
  •  Cost Centres
  • Budgeting & Cost Techniques
  • The Operating Budget
  • Expense Budgeting
  • Project Budgeting
  • Capital Expenditure Budgeting & Analysis
  • Risk management
  • Use and Interpretation of Management Budget Reports
  • Best and Worst Scenario & ‘What If’ Budgeting Practices
  • Summary and Course Analysis
  • Case Studies
  • Practical Exercises 
  • Discussions Sessions
  • Course Evaluation
  • Course Summary.

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