
An Intensive 5-day Training Course
Budget Preparation, Allocation & Cost Control
Principles of Traditional & Advanced Cost Techniques
Scheduled Dates
Classroom
23 - 27 Jun 2025 | London - UK | $5,950 | RESERVE A SEAT |
27 - 31 Oct 2025 | Amsterdam - The Netherlands | $5,950 | RESERVE A SEAT |
Online
27 - 31 Oct 2025 | 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?
The effective management of budgeting and cost control is crucial for contemporary organizations. Nowadays, if companies want to stay competitive, they are urged to think in terms of process-value added to customers/shareholders. 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 course is relevant for those professionals & analysts facing the difficult challenge of improving performance while reducing costs of those processes for which they are accountable.
By combining techniques analysis, problems and examples with real case studies, the course provides participants with key cost awareness and budgetary skills, which is essential in managing and controlling processes/projects in times of increasing global competition where the budgets are inextricably linked with both strategy formulation and cost analysis.
This course will feature:
- Identify the role of budgeting within the organization’s management system
- Develop proper system of cost analysis for budgeting purposes
- Master the budgeting and financial skills required for better decision-making
- Link strategy to operational plans
- Learn new best practices to manage organizational performance
- Integrate organizational drivers with strategic objectives
- Connect financial and pre-financial drivers
What are the Goals?
Participants attending the course will:
- Successfully build an integrated planning, budgeting and reporting process
- Understand costs behavior more accurately
- Deliver more timely and useful information to decision makers
- Understand capital budgeting
- Identify & manage key financial indicators for the business
- Be able to use specific cost analysis and performance measurement techniques
- Be able to understand and implement the Balanced Scorecards
- Be able to interpret the financial impact of strategic directions
- Understand the problems of overheads allocation and how Activity Based Analysis may aid decision-making and pricing strategies
- Select the performance measurement systems that work
- Think proactively beyond budgeting
Who is this Training Course for?
- Those in charge for designing and managing a budgetary system
- 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 professionals, R&D professionals, sales/marketing professionals, general accounting professionals, business unit professionals
- Anyone who wants to understand the basics of budgeting, costing and performance measurement
How will this Training Course be Presented?
We combine theory and practice. Therefore, besides lectures based on power-point presentations, discussions and exercises, we use company examples to illustrate how the techniques presented have been applied in real case studies.
Daily Agenda
Day One: Budgeting & Cost Control in the Management System: Link with Strategic Planning
- Budgeting and the management system of contemporary organizations
- Strategic planning, budgeting and management control
- Strategic Management Accounting – setting goal and objectives
- From strategic to operating plans – actions and initiatives
- Measuring and managing the performance – KPIs and targets
- Managerial Accountability
Day Two: Budgeting: Principles and Key Concepts
- Understanding the context for budgeting
- The benefit of Budgeting and its role for achieving organizational targets
- The shortcomings of the budgeting process. How to improve them?
- Principles of budgeting
- Main issues with budget preparation
- Capex (capital expenditures) vs Opex (operational expenditures)
Day Three: Cost Analysis for Budgetary Purposes
- 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
Day Four: Traditional vs. Advanced Techniques in Cost-Control
- Under-costing and over-costing: understand allocation methods
- 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)
Day Five: New Integrated Performance Measurement Systems
- Beyond budgeting: integrating financial and pre-financial information
- The drivers of value creation
- The Balanced Scorecard
- Strategy Maps
- Integrated Reporting
Certificate
- On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.