Nigerian Seminars and Trainings

Search conferences, training, seminars, courses and workshops in Nigeria and around the world

business logo

Cost Control Techniques

By: TSI Limited

Lagos State, Nigeria

23 - 25 Jul, 2014  3 days

Follow Event

  


Warning: DOMDocument::loadHTML(): htmlParseEntityRef: no name in Entity, line: 56 in /home/nst1/public_html/event-detail.php on line 281
Course Overview
To ensure effective financial management of a department or and even the entire organization, there is the need to ensure compliance with the approved budget while operational costs need to be monitored and controlled so as to ensure financial discipline. Cost Control training course will help participants to understand the main concepts and methodology around cost management and budgeting.

Course Objective
  • By the end of the course, participants will be able to:
  • Apply the essential concepts of accounting, budgets and finance
  • Apply the use of unit cost measurements in performance-based budgeting
  • Maintain strategic cost control.
  • Appreciate the importance of reducing unnecessary costs 
  • Identify appropriate outputs for an organizational unit or program component
  • Determine and apply the costs estimated to produce those outputs and calculate a cost per unit of output.
  • Use best practices to create written budget justifications
  • Locate guidance on budgeting for capital assets, and integrate performance budgeting into your organization’s budget formulation process.
Course Outline
  • The key role of budgeting and cost control in contemporary organizations
  • Towards a cross-functional process-view of the organization
  • Financial vs. Managerial accounting (for decision making)
  • Understand you processes: integrating financial and non-financial aspects
  • Budgeting and Cost analysis
  • Cost concepts and terminology
  • Different costs for different purposes
  • Fixed Vs Variable costs: the Cost-Volume-Profit analysis model
  • Contribution Margin analysis
  • Manufacturing vs. non-manufacturing costs
  • Period Vs. Product costs: inventory evaluation and control
  • Under-costing and over-costing: the consequences for profitability
  • How to refine a costing system?
  • Indirect (OH) Vs. Direct costs: Traditional Cost Allocations systems Vs. Activity-Based Costing (ABC)
  • Cost hierarchy & Cost drivers
  • Linking resources, activities and management
  • Introducing Activity-Based Budgeting (ABB) and Management (ABM)
  • Role of cost management in the business strategy
  • Cost management and motivation
  • Embedding cost control in the business
  • Role of Finance in cost control
Sizzler House, 33 International Airport Road, Ajao Estate, Lagos, Nigeria Jul 23 - 25 Jul, 2014
NGN250,000.00
(Convert Currency)

+1-646-202-8832, +2348033467639

Related Courses
Public Private Partnership-Negotiating and Managing PPP Contracts Public Private Partnership-Negotiating and Managing PPP Contracts

3 days, 03 - 05 Sep, 2018 

2018-09-03 12:09:00
Lagos State, Nigeria

TSI Limited

The concept of PPP obligates a more collaborative relationship between both sectors, fostered by openness and trust. This presents a major shift from the traditional 'arms-length' approach in ...

Customer Relationship Management Customer Relationship Management

3 days, 21 - 23 May, 2018 

2018-05-21 12:05:00
Lagos State, Nigeria

TSI Limited

This training course introduces Customer Relationship Management (CRM) and provides the skills and knowledge required to develop, manage, build and maintain customer relationships. You will develop ...

Managing Workplace Diversity Managing Workplace Diversity

3 days, 16 - 18 Apr, 2018 

2018-04-16 12:04:00
Lagos State, Nigeria

TSI Limited

In the new global economy, it is more important than ever to understand how culture affects communication and perception. Improving intercultural communication enhances success by bringing varied ...

Effective Corporate Social Responsibility Effective Corporate Social Responsibility

3 days, 07 - 09 May, 2018 

2018-05-07 12:05:00
Abia State, Nigeria

TSI Limited

Designed to meet the needs of professionals who seek high-level competencies to manage the challenge of operating corporate social responsibly in a competitive business environment. This ...