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Effective Management Budgeting and Cost Control Training

By: LCL Coaches Consultants  

Lagos State, Nigeria

12 - 15 Oct, 2021  4 days

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NGN 145,000

Venue: Lagos

Businesses use cost control methods to monitor, evaluate, and ultimately enhance the efficiency of specific areas, such as departments, divisions, or product lines, within their operations. Cost Control is reviewing both fixed and variable costs and attempts to reduce expenses.

Training Objective

By the end of this training, participants will be able to:

  • Master the budgeting process
  • Understand costs behavior
  • Explore traditional & innovative approaches to Budgeting & Cost Control
  • Analyze process costing
  • Manage Balanced Scorecard 

Day One

Introduction: Building a Common Financial Language

  • The key role of budgeting and cost control in contemporary organizations
  • The 21st century business imperative: delivering value added (but to whom?)
  • Financial vs. Managerial accounting (for decision making)
  • Understand your processes: integrating financial and non-financial aspects
  • The budgeting processes
  • Examples and Discussion 

Day Two

  • The Budgeting Process
  • The key features of budgeting
  • Advantages and concerns with budgeting
  • Accountability and centers of responsibility
  • Zero-based budgeting
  • Budgeting and cost control
  • Examples and Discussion

Day Three

Cost Analysis

  • Different costs for different purposes
  • Fixed vs. Variable costs
  • The Cost-Volume-Profit analysis model
  • Contribution Margin analysis
  • Examples and Discussion
  • Traditional vs. Advanced Techniques in Cost-Control
  • Under-costing and over-costing: the consequences for profitability
  • Indirect (OH) vs. Direct costs:
  • Traditional Cost Allocations systems vs. Activity-Based Costing (ABC)
  • Linking resources, activities, and management
  • Variance analysis

Day Four

Beyond the Budgets: Balanced scorecards and Six-sigma

  • Broadening performance measurement systems
  • Beyond budgeting: integrating financial and non-financial issues
  • Introducing the Balanced Scorecard
  • Introducing the Strategy maps
  • Introducing Six-sigma
  • Video, Case Study and examples
Lagos Oct 12 - 15 Oct, 2021
NGN 145,000.00
(Convert Currency)

Olusina Lajorin 09026713101, 08033241313

Group discount apply
Olusina Lajorin

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