March 2017 - Workshop "Advanced Budgeting & Cost Management"

Budgeting and cost analysis are crucial elements for the management of contemporary organisations. Nowadays, if companies want to stay competitive, they are urged to link their strategies with accurate systems of resource allocation and performance measurement. 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 there are accountable. This seminar provides participants with key cost awareness and budgetary skills, which are essential for managing and controlling resources in times of increasing global competition where the budgets are inextricably linked with both the achievement of strategic objectives as well as with evaluation of future plans and initiatives.

SEMINAR OBJECTIVES

1. Refine costing and budgeting terminology used in business
2. Understand the importance of a well-defined costing and budgeting process
3. Determine full costs of outputs for the goods and services provided
4. Master traditional techniques and recent best practices on budgeting / cost management
5. Link finance and operation for budgeting purposes and strategy execution
6. Learn how to build a comprehensive performance measurement system