The Fundamentals Of Cost Control – Online Training Program

A Complete Overview Of The Cost Control Process

The Fundamentals Of Cost Control – Online Training Program

1 day(s)

AED 1,450.00

Description

Who Should Attend?

This program is designed for those responsible for preparing / completing budgets for their departments, as well as those accountable for managing their organization’s cost control process, but who have had no formal training or experience.  It is very useful for managers and non-managers in any industry, from small to large companies / organizations, who need to keep a tight control on costs in what is currently an unprecedented challenging business environment.

About The Program

Successful cost control skills are key for those who want business success, since staying within budgets are related to an organization’s strategic objectives, and help decide the overall direction.  Not having control on a organization’s cost can have severe consequences.  But often, managers and others responsible for cost control are just ‘assumed’ to understand how to control cost, even though there are many aspects of cost control that are not ‘intuitive’.  Rather than learn by trial and error, after this program you can get your cost control right first time!

Due to COVID-19, most businesses (and households) face challenges which affect every part of their day-to-day lives.  Which means they are being forced to adjust their budgets, while trying to navigate uncharted waters as they review costs for the 2020-21 fiscal year.

This online course introduces you to the basic knowledge necessary for proper cost control, and builds on that knowledge.  Delegates will learn practical cost control skills, to enable them to meet their management’s expectations, by consistently delivering operational objectives, while achieving financial performance goals.

This online course is very interactive, so there are no long periods of dry lectures.  Budgeting and cost control is explained in easy-to-understand language, and then reinforced with practical exercises and activities.

Course Objectives

  • To learn the steps to creating a budget
  • To understand the different approaches to budgeting
  • To learn the difference between budgeting for fixed expenses, and budgeting for variable expenses
  • To understand how to allocate budgets properly by month
  • To use variance analysis to assess performance against budget

What You Will Gain

  • Greater confidence from senior management, fellow managers, and subordinates, by demonstrating cost control competence
  • A good knowledge of budget and cost control terminology and techniques
  • An ability to make meaningful contributions to the organization’s budget process
  • Many practical techniques which will take the mystery out of the budgeting and cost control process

Program Content

  • The Benefits Of Budgeting and Cost Control
  • Different Budget Approaches:
    • Zero-Based Budgeting
    • Top-Down
    • Bottom-Up
    • Rolling / Continuous
    • Flexible Budgets
  • Budgeting For Contingencies
  • Budget Review And Variance Analysis
  • Scope Change Vs ‘Scope Creep’
  • Monitoring And Understanding Budgets and Cost Control

During the COVID-19 crisis, a number of our programs will be offered online with reduced hours and a reduced investment, but with maximum effectiveness.

Please contact us for specific details on the courses we are running. Our Business Development Staff will be happy to provide you with further details.

Before the course each delegate will be asked to complete a Pre-Course Briefing Form to determine their individual objectives for attending the course. These objectives will be used by the Tutor to give on-target training that is focused on the individual delegates.

At the end of the course each delegate will be asked to complete a Personal Development Plan that can be used as part of future appraisals, and that will also be an important tool for management reference.

Total ONLINE Investment: AED 1,450/- + VAT

From: 26th January 2023

To: 26th January 2023

Duration: 1 day(s)

Location: Online

From: 13th March 2023

To: 13th March 2023

Duration: 1 day(s)

Location: Online

From: 22nd May 2023

To: 22nd May 2023

Duration: 1 day(s)

Location: Online

The Fundamentals Of Cost Control – Online Training Program

1 day(s)

AED 1,450.00