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 Online and Classroom Course

By: TSI Limited

Ogun State, Nigeria

26 - 28 Jun, 2024  3 days

Follow Event

  

NGN 180,000

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 26 - 28 Jun, 2024
NGN 180,000.00
(Convert Currency)

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

Related Courses

Supply Chain Management II Online and Classroom Course Supply Chain Management II Online and Classroom Course

3 days, 09 - 11 Oct, 2024 

2024-10-09 12:10:00 2024-10-09 12:10:00
Ogun State, Nigeria

TSI Limited

Eliminating functional silos is an imperative if organizations are to achieve the high levels of customer satisfaction and reduce cost demanded of the supply chain. Eliminating these silos ...

Competitive Strategy Online and Classroom Course Competitive Strategy Online and Classroom Course

3 days, 06 - 08 May, 2024 

2024-05-06 12:05:00 2024-05-06 12:05:00
Ogun State, Nigeria

TSI Limited

This training course teaches analysis of strategic decisions facing an organization. The primary emphasis is on decisions at the line of business (rather than corporate) level, and the primary ...

Banking Operational Risk Techniques Online and Classroom Course Banking Operational Risk Techniques Online and Classroom Course

3 days, 04 - 06 Sep, 2024 

2024-09-04 12:09:00 2024-09-04 12:09:00
Ogun State, Nigeria

TSI Limited

The Basel Committee on Banking Supervision has issued for a package of proposals to strengthen global capital and liquidity regulations with the goal of promoting a more resilient banking ...

Records and Information Management  Online and Classroom Course Records and Information Management Online and Classroom Course

3 days, 13 - 15 Nov, 2024 

2024-11-13 12:11:00 2024-11-13 12:11:00
Ogun State, Nigeria

TSI Limited

Records and Information Management training course is a management skill which is applied in the control of records, created and received by an organization in the course of its business. Records are ...