Nigerian Seminars and Trainings

Search all upcoming seminars, conferences, short management courses and training in Nigeria and around the World

business logo

Cost Control Techniques Course

By: TSI Limited

Ogun State, Nigeria

22 - 24 Jun, 2022  3 days

Follow Event

  

NGN 150,000

Venue: Online and Class room @ 4, Akinpelu Street, Lagos - Ibadan Express Road, Behind ENYO Petrol, Ibafo Bus stop, Ibafo, Ogun State

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 ï»¿training course will help participants to understand the main concepts and methodology around cost management and budgeting.

By the end of the course, participants will be able to:

  • Define fixed and variable costs;
  • Apply the essential concepts of accounting, budgets and finance;
  • Establish strategic cost control;
  • Recognise the importance of reducing unnecessary costs 
  • 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 and 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
Online and Class room @ 4, Akinpelu Street, Lagos - Ibadan Express Road, Behind ENYO Petrol, Ibafo Bus stop, Ibafo, Ogun State Jun 22 - 24 Jun, 2022
NGN 150,000.00
(Convert Currency)

Prof. Richard Mayungbe +1-646-202-8832, 08033467639, 08023019508

Related Courses

Understanding Financial Statement Course Understanding Financial Statement Course

3 days, 12 - 14 Oct, 2022 

2022-10-12 12:10:00 2022-10-12 12:10:00
Ogun State, Nigeria

TSI Limited

This course is designed to explain how financial measures of corporate performance are calculated and used to assess credit worthiness of a business. The course covers the basics of financial ...

Treasury Management Course Treasury Management Course

3 days, 24 - 26 Oct, 2022 

2022-10-24 12:10:00 2022-10-24 12:10:00
Ogun State, Nigeria

TSI Limited

This three day course will give participants a chance to critically review key elements of their company treasury function and the means by which to add value and enhance efficiency. You will learn ...

Business Financial Modeling and Forecasting Course Business Financial Modeling and Forecasting Course

3 days, 02 - 04 Aug, 2022 

2022-08-02 12:08:00 2022-08-02 12:08:00
Ogun State, Nigeria

TSI Limited

This course seeks to give participants a foundation in building financial model and conducting analysis in excel in the areas of feasibility study and business planning, valuing a company for ...

Human Resources Payroll Administration Course Human Resources Payroll Administration Course

3 days, 12 - 14 Jul, 2022 

2022-07-12 12:07:00 2022-07-12 12:07:00
Ogun State, Nigeria

TSI Limited

Human Resources Department serves as the entry and exit point in all organizations. Therefore the HR Payroll Administration is a course that is most suited for practitioners in this department ...