Estimating, Budgeting and Cost Control

The Estimating, Budgeting and Cost Control training course will be conducted along workshop principles with formal lectures, case studies and interactive worked examples. Relevant case studies will be provided to illustrate the application of each tool in an operations environment. Each learning point will be re-enforced with practical exercises.

• Refine costing and budgeting terminology used in business
• Understand the importance of a well-defined costing and budgeting process
• Determine full costs of outputs for the goods and services provided
• Master traditional techniques and recent best practices on budgeting/cost management
• Link finance and operation for budgeting purposes and strategy execution
• Learn how to build a comprehensive performance measurement system

This Estimating, Budgeting and Cost Control training course will greatly benefit:

• The staff person who will be responsible for entering data into the budget system or training others how to enter information
• Those who want to gain control of the firm's financial standing and obtain a firm grasp on the numbers side of their job
• Financial Professional, Professional R&D, Sales/Marketing Professional, General Accounting Professional, Business Unit Professional
• Anyone who wants to refine and advance their budgeting and costing knowledge

Organisational Impact

• Cost and budgeting awareness will be enhanced
• Higher chances to design or select a budgetary system that works
• Broadened knowledge of performance management techniques
• Better attitude to link cost and budgeting to strategy and performance measurement
• Deeper understanding of cause and effect relationship for budgeting purposes
• Better awareness of non-financial implications of budgeting and cost management

Personal Impact

By attending this Estimating, Budgeting and Cost Control training course, delegates will:

• Understand the budgeting methods most useful to them
• Understand how to construct a relevant and efficient budget
• Learn to evaluate the usefulness of costing techniques in accurately calculating and ensuring profitability
• Reinforce and expand their knowledge by linking budgeting to strategy and performance measurement
• Broaden their understanding by linking financial and operational issues