Effective Budgeting, Cost Control and Overhead Reduction in an Economic Downturn

An Intensive 3-day Training Course

Effective Budgeting, Cost Control
and Overhead Reduction in an Economic Downturn

Effective Budgeting, Cost Control and Overhead Reduction in an Economic Downturn

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We currently have no scheduled session for this Course. If you are interested in running this course, please contact our Training Department at info@petroknowledge.com

Why Choose this Training Course?

Very much like when the rocks below the sea become visible when the tide goes out, high levels of organisational overheads are exposed during an economic downturn, the result of which is lower profit levels and possibly losses. The position may be acceptable within the short term, but if such a situation continues over an extended period it is an obvious threat to economic survival. This therefore requires an assessment of the level of necessary overhead sand other resources required to support lower levels of economic activity.

The budget is a plan of how resources may be economically acquired and allocated over the short term (up to one year forward). Effective budgeting recognises changes in the external economic environment, such as an economic downturn, and then identifies the areas in which appropriate responses are required to prepare a financially viable plan.

This training course deals comprehensively with these issues in plain language that is easy to understand. It covers in detail how alternative costing systems are used in budget preparation. It also explores alternative approaches to costing, and budgetary control that may more accurately identify individual areas of overhead and determine appropriate levels of overhead, materials and labour resources to support reduced levels of activity.

The Instructors own commercial career experiences and many other real-world business scenarios are shared throughout this stimulating seminar to illustrate and reinforce the practical application of the tools and techniques and best practice.

This training course will highlight:

  • Effective budgeting and performance measurement
  • Full costing, marginal costing, and activity based costing (ABC)
  • Operating budgets, cash budgets, and master budgets
  • Fixed budgets, flexed budgets, and variance analysis
  • Continuous performance improvement, and the balanced scorecard

What are the Goals?

By the end of this training course, participants will have learned how to:

  • Identify the links between financial planning, budget setting, and performance measurement
  • Use alternative approaches to costing for planning, budgeting and budgetary control to identify specific overheads and their appropriate levels
  • Prepare an operating budget, cash budget, and master budget
  • Develop budgetary control systems, and analyse variances using flexed budgets
  • Integrate continuous performance improvement into the budget process and link budgets and KPIs with financial plans using the balanced scorecard

Who is this Training Course for?

It is crucially important for everyone involved in planning, budgeting and budgetary control to be conversant with best practices and their practical application. In a period of economic downturn in particular this is even more essential to ensure that organisational goals are met.

This training course is suitable for a range of personnel from companies, corporations and governmental organisations and, in addition to financial analysts, controllers, accountants and departmental managers active in the planning and budget setting processes,will benefit business professionals working in:

  • Estimating and Costing
  • Operations
  • Facilities Management
  • Sales and Marketing
  • Quality Management
  • Engineering
  • Project Management
  • Procurement
  • Logistics
  • Research and Development
  • Asset Management
  • Human Resources,

and any other financial and non-financial personnel that need or wish to understand financial planning, costing and the control of overheads, budgeting and budgetary control.

How will this Training Course be Presented?

Individuals with varied experience and knowledge are encouraged to share their own experience and consider alternative approaches introduced during the seminar. Formal presentations will be supported by numerous worked examples, the use of real-world scenarios and group discussion. In this supportive and interactive workshop environment your Instructor will facilitate team case studies and exercises that will reinforce the hands-on application of each of the learning points and topics covered.

Difficult mathematical concepts are minimised wherever possible and handled in a visual and user-friendly way– our aim is for this to be an enjoyable learning experience.

Daily Agenda

Day One: Financial Planning, Costing Systems and Control of Overheads
  • The planning process
  • External environment analysis, internal resources analysis, SWOT and PESTEL
  • Financial planning, and long-term and short-term financing
  • Cost behaviour – fixed costs, variable costs, contribution, and cost/volume/profit (CVP) analysis
  • Product costs and period costs, traceable costs and non-traceable cost allocation
  • Direct costs, indirect costs, absorption costing, marginal costing, and activity based costing (ABC)
Day Two: Effective Budgeting  
  • What is a budget – and why budget?
  • The budget process
  • Budgeting for labour costs and depreciation
  • The departmental budget
  • The master budget and the cash forecast/budget
  • Behavioural aspects of budgeting
Day Three: Budgetary Control,Performance Measurement and Improvement
  • Activity based budgeting (ABB)
  • Budgetary control systems and responsibility accounting
  • Standard costing for budgeting and budgetary control
  • Fixed budgets, flexed budgets, variance analysis and the reasons for variances
  • Integrating continuous improvement into the budget process
  • The balanced scorecard – linking strategy with budgeting and with performance measurement


  • On successful completion of this Training Course / Online Training Course, a PetroKnowledge Certificate / E-Certificate will be awarded to the delegates.

In Association With

GLOMACS Training

Our collaboration with GLOMACS aims to provide the best training services and benefits for our valued clients

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Frequently Asked Questions

  • To register online through our website, please click “Enroll Now” on the course page, complete and submit the form. A confirmation e-mail and instructions will be sent to the participant’s e-mail.
  • 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

  • Payments can be made in USD or UAE local currency AED (Arab Emirates Dirhams) either by Bank Transfer or by Credit Card. Our Bank Account details will be provided on the invoice.
  • Course fees are payable upon booking unless a valid, authorized Purchase Order is provided and accepted.
  • Invoices will be sent via email/courier to the ID/name and address provided.
  • The course fee shall be settled prior to course start date. Corporate payments with existing payment policy shall be relayed to us in advance.

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.

For corporate fees and group registration, please send your query to info@petroknowledge.com.

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