An Intensive 5-day Training Course
Advanced Budgeting & Cost Management
The Complete Course on Budget - Estimating, Budgeting & Cost Control
Scheduled Dates
Classroom
| 12 - 16 May 2025 | Abu Dhabi - UAE | $5,950 | RESERVE A SEAT |
| 02 - 06 Jun 2025 | Barcelona - Spain | $5,950 | RESERVE A SEAT |
| 21 - 25 Jul 2025 | London - UK | $5,950 | RESERVE A SEAT |
| 25 - 29 Aug 2025 | Paris - France | $5,950 | RESERVE A SEAT |
| 20 - 24 Oct 2025 | Dubai - UAE | $5,950 | RESERVE A SEAT |
| 10 - 14 Nov 2025 | Paris - France | $5,950 | RESERVE A SEAT |
| 29 Dec 2025 - 02 Jan 2026 | London - UK | $5,950 | RESERVE A SEAT |
| 05 - 09 Jan 2026 | London - UK | $5,950 | RESERVE A SEAT |
| 19 - 23 Jan 2026 | Istanbul - Turkey | $5,950 | RESERVE A SEAT |
Online
| 29 Dec 2025 - 02 Jan 2026 | Online | $3,950 | RESERVE A SEAT |
Would an alternative date be more suitable?
We offer a variety of tailored training options, customized to meet your organisation's needs. Delivered anytime, anywhere, we make it easy to bring expert training directly to your team.
Why Choose this Training Course?
This Advanced Budgeting & Cost Management training course provides participants with key cost awareness and budgetary skills, which are essential for managing and controlling resources in times of increasing global competition where the budgets are inextricably linked with both the achievement of strategic objectives as well as with evaluation of future plans and initiatives.
Budgeting and cost analysis are crucial elements for the management of contemporary organizations. Nowadays, if companies want to stay competitive, they are urged to link their strategies with accurate systems of resource allocation and performance measurement. Along this line, budgeting, as well as tracking, controlling & reducing cost represent essential activities to be performed and monitored by organizations as they implement their key processes, activities and operations. In addressing these issues, this training course is relevant for those professionals & analysts facing the difficult challenge of improving performance while reducing costs of those processes for which there are accountable.
In particular, this PetroKnowledge training course enables participants to:
- Link budgeting and costing with strategy execution
- Understand the critical factors which have an impact on business processes
- Discuss about modern system of cost analysis for budgeting purposes
- Master the budgeting and financial skills required for better decision-making
- Identify sources of financial and operational data to support the budgeting process
- Explore the best practices required to manage the multiple organizational performances
What are the Goals?
By the end of this Advanced Budgeting & Cost Management training course, you will be able to:
- Understand Costing and Budgeting terminology used in business
- Implement a well-defined costing and budgeting process
- Determine full costs of outputs for the goods and services provided
- Master traditional techniques and recent best practices on budgeting / cost management
- Link finance and operation for budgeting purposes and strategy execution
- Learn how to build a comprehensive performance measurement system
Who is this Training Course for?
This Advanced Budgeting & Cost Management training course is suitable for a wide range of professionals but will greatly benefit:
- The staff person who will be responsible for entering data into the budget system or training others how to enter information
- Those who want to gain control of the firm's financial standing and obtain a firm grasp on the numbers side of their job
- Financial Professional, Professional R&D, Sales / Marketing Professional, General Accounting Professional, Business Unit Professional
- Anyone who wants to refine and advance the budgeting and costing knowledge
How will this Training Course be Presented?
This Advanced Budgeting & Cost Management training course will utilize a variety of proven online learning techniques to ensure maximum understanding, comprehension, retention of the information presented. The training course is conducted Online via an Advanced Virtual Learning Platform in the comfort of any location of your choice.
Organisational Impact
- Cost and budgeting awareness will be enhanced
- Higher chances to design or select a budgetary system that works
- Broadened knowledge of performance management techniques
- Better attitude to link cost and budgeting to strategy and performance measurement
- Deeper understanding of cause and effect relationship for budgeting purposes
- Better awareness of non-financial implications of budgeting and cost management
Personal Impact
- Delegates will understand the budgeting methods most useful to them
- They will understand how to construct a relevant and efficient budget
- They will learn to evaluate the usefulness of costing techniques in accurately calculating and ensuring profitability
- They will reinforce and expand their knowledge by linking budgeting to strategy and performance measurement
- They will broaden their understanding by linking financial and operational issues
Daily Agenda
Day One: Introduction: The Relevance of Budgeting and Cost Management within Strategy Execution
- The Link between Strategy, Planning, Budgeting and Cost Management
- Why Budgeting and Costing are so important to manage your company?
- Financial & Management Accounting
- Preparing Financial Statements & Cost Evaluation
- Understand your Processes: Integrating Financial and Non-financial Aspects
- Identify and Discuss the Key issues in terms of Budget / Costing for your own Organization
Day Two: The Budgeting Framework and its Role within the Management Process
- The Role & Types of Budgets within Management Accounting
- The Budget Process
- Preparing the Master Budget & Departmental Budgets
- Preparing a Project/CAPEX Budget
- Advantages and Disadvantages of Budgets & the Budget Process: The Critical issues for Success
- Budgetary Control
Day Three: Cost Management for Budgeting Purposes
- Cost Classification, Concepts and Terminology
- Fixed vs. Variable Costs: The Cost-Volume-Profit Analysis Model
- Contribution Margin Analysis
- Estimating / Forecasting Costs
- Calculating, Evaluating & Managing the Cost of:
- Purchases
- Manufacture
- Inventory (IAS 2)
- Working Capital
- Improving Efficiency to Reduce Costs
Day Four: Traditional vs. Advanced Techniques in Cost-control
- Under-costing and Over-costing: The Consequences for Profitability
- How to refine a Costing System?
- Indirect vs. Direct costs: Traditional Cost Allocations Systems vs. Activity-Based Costing
- Cost Drivers: Linking Resources, Activities and Management
- Introducing Activity-Based Budgeting (ABB) and Management (ABM)
Day Five: Broadening the Performance Measurement Systems
- Shortcomings of Traditional Approaches to Budgeting and Performance Measurement
- Recent Best Practices: the Balanced Scorecard and Six-sigma
- Financial Perspective and Customer Perspective
- Internal Business Process Perspective and Learning & Growth Perspective
- Developing and Adapting the Scorecard
- Elkington’s Triple Bottom Line: Profit, People & Planet
Certificate
- On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.
In Association With
Frequently Asked Questions
Why PetroKnowledge?
PetroKnowledge is a globally recognized provider of training courses for oil and gas professionals, offering a wide range of specialized training courses designed to enhance knowledge, skills, and expertise in the energy sector. With courses tailored to meet the evolving demands of the oil and gas industry, PetroKnowledge helps professionals stay up-to-date with industry standards, technological advancements, and best practices.
Who are these training courses designed for?
Our courses are specifically developed for professionals in the oil and gas industry, including engineers, technical staff, managers, and other specialists looking to advance their careers. Whether you’re a seasoned expert or new to the sector, our training for oil and gas professionals is suited to individuals at all stages of their professional journey.
Are the courses delivered online or in person?
PetroKnowledge offers flexible learning solutions with both online courses and in-person training options. Online courses for oil and gas professionals provide the flexibility to learn from anywhere, while in-person courses offer a hands-on, interactive learning environment. Each training course page provides detailed information on the delivery format, allowing you to choose the option that best meets your learning style and schedule
Can I get a customized training course for my team?
Yes, PetroKnowledge offers customized in-house training solutions for organizations looking to upskill their teams. We work closely with companies to design bespoke training courses for oil and gas professionals that address specific challenges and objectives. Whether you need on-site training or online solutions, we can tailor the training courses to suit your organization’s needs.
Are there any prerequisites for attending a course?
Certain advanced training courses for oil and gas professionals may require prior experience or technical knowledge. These prerequisites ensure that participants can fully benefit from the course content. We recommend reviewing the course description on the relevant page to determine if any prerequisites apply to your selected course.
How can I enroll in a course?
Enrolling in one of our training courses for oil and gas professionals is simple and convenient. Navigate to the specific course page, click “Enroll Now,” and complete the registration form. You will receive a confirmation email with further details on how to proceed.
You may also get in touch with our Registration Team on
+971 50 981 7386 | +971 2 557 7389 or send an email to [email protected]
When should I expect to receive confirmation of registration?
Upon successful registration online, enrolment on the respective training course will be confirmed by Registration Team by e-mail along with the invoice and joining instruction.
Will I receive a certificate after completing the course?
Yes, upon successful completion of our courses for professionals in the oil and gas industry, you will receive an industry-recognized certificate from PetroKnowledge. This certification is designed to validate your skills and knowledge and can significantly enhance your professional credentials, boosting your career prospects in the competitive oil and gas sector.
When and how do I arrange payments?
We offer two convenient payment options:
- Bank Transfer – You can make payment via bank transfer. Once your registration is confirmed, you will receive an invoice with the banking details for the transfer. We would require you to supply a swift copy for us to confirm receipt of funds.
- Payment Link – Alternatively, we provide a secure payment link that you can use to complete your payment after your registration has been confirmed.
What is the refund or cancellation policy?
Our refund and cancellation policy varies depending on the course and circumstances. Generally, cancellations made at least 21 days before the training are eligible for a refund, less any administrative fees. If you have any specific inquiries about the cancellation or refund, don’t hesitate to contact our support team, who can assist with your booking and cancellation queries.
Is there a discount for more than one registrant/course?
For corporate fees and group registration, please send your query to [email protected].
