Objective
To assist participants to develop an in-depth understanding of the components and behaviour of cost and budgeting leading to introduction of contemporary tools of deciding on achievable cost reduction targets while also adopting new ways of working professionally and appreciate the impact of their attitude on others. Having completed the program the participants will understand the general concepts, define cost control processes & objectives, understand differences between Cost control vs cost management, understand the budgeting process, understand budgeting and costing terminology, updating and Flexing the budget, preparing the budgets and forecast, budgeting to control costs and be in a position to devise their own budget and control system.
Modules
Some of the modules we will cover include:
- The Genesis Of Cost
- Cost management and strategic decisions
- Cost Accumulation And Reporting
- Identifying Cost Reduction Targets
- Control And Management
- The importance of budgeting
- Budget Types
- Budget Preparation Process
- Preparing A Forecast
- Using The Budget To Control
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