Budget Preparation, Allocation & Cost Control

An Intensive 5-day Training Course

Budget Preparation, Allocation & Cost Control

Principles of Traditional & Advanced Cost Techniques

Budget Preparation, Allocation & Cost Control

Scheduled Dates

Classroom

23 - 27 Jun 2025London - UK$5,950RESERVE A SEAT
27 - 31 Oct 2025Amsterdam - The Netherlands$5,950RESERVE A SEAT

Online

27 - 31 Oct 2025Online$3,950RESERVE 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.

In-House Solutions ›

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.

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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 reg@petroknowledge.com

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 info@petroknowledge.com.

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