Essentials of Budgeting & Cost Control Training

Created by LEC Team
Last updated Mon, 27-Mar-2023
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Budgeting as well as strategic administration are both totally linked together. Reasonable budgets depend on accurate expense analysis and projecting. It is important to recognize just how costs act to be able to prepare genuinely and also execute using proper monetary and non-financial efficiency measures. Monetary control best method utilizes bent budget plans to determine variations versus actual performance and also enable rehabilitative actions.

Program Objectives of Essentials of Budgeting & Expense Control Training


  • Establish an incorporated planning, budgeting and also reporting procedure
  • Actively participate in the budgeting procedure within the organisation
  • Analyse set you back behaviour and handle costs more effectively
  • Master typical and also innovative strategies to budgeting and also cost control
  • Select suitable as well as effective efficiency dimension systems and also KPIs


Day 1
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 2
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 3
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 4
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 5
Linking Financial and Non-Financial KPIs
  • Planning for world class performance

  • Drivers of corporate and shareholder value, and financial strategy

  • The changing cost base and alternative approaches to costing

  • The conflicts between accounting and business performance measurement

  • Integrating financial and non-financial key performance indicators (KPIs)

  • The balanced scorecard


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