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Understanding Costs and Budgets in an Organization Course

Understanding Costs and Budgets in an Organization Course

1 Day Instructor Led Course - 7 Contact Hours
Upcoming Schedules for Understanding cost & budget: View all Understanding cost & budget Schedules
Dubai TBA TBA TBA Enquire Now

Our Unique Guarantees

Free Trial Guarantee

For any public schedule courses attended, the course or any part of it can be repeated absolutely free of charge, provided space and course availability in our public schedule.

Free Repeat Guarantee

For any public schedule courses attended, the course or any part of it can be repeated absolutely free of charge, provided space and course availability in our public schedule.

Course Objectives

Upon completion of the course, students will be able to:

  • identify different costs and how they behave.
  • appreciate how important it is to control costs.
  • understand how standard costing techniques help to control costs.
  • use different methods for controlling and reducing costs.
  • understand what a budget is and how they are used
  • help to draw up workable budgets.
  • use some budgetary control techniques

Course Content

SECTION 1 BUDGETING

  • An Introduction to budgeting
  • Objectives of budgeting
  • The budget cycle
  • Constructing a budget
  • Negotiating a budget
  • Incremental budgeting
  • Zero based budgeting
  • Budgetary control
  • Budget preparation
  • Variance analysis
  • Performance management

SECTION 2 COST BEHAVIOUR AND CONTROL

  • An Introduction to cost control
  • Cost classification
  • Cost elements
  • Direct and indirect costs
  • Fixed and variable costs
  • Break-even analysis
  • Overhead costs
  • Cost centers
  • Profit centers
  • Standard costing
  • Cost control mechanism