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Effective Budgeting and Operational Cost Control Training Course - ResearchAndMarkets.com

June 14, 2018

DUBLIN--(BUSINESS WIRE)--Jun 14, 2018--The “Effective Budgeting and Operational Cost Control” training has been added to ResearchAndMarkets.com’s offering.

To ensure effective financial management of a department or and even the entire organization, there is the need to prepare a realistic budget and ensure compliance with the approved budget. Furthermore, to ensure this compliance, operational costs need to be monitored and controlled so that as to ensure financial discipline. Effective Budgeting and Operational Cost Control training course will help participants to understand the main concepts and methodology around cost management and budgeting.

Key Topics Covered:

Introduction: Building a Common Financial Language

Key role of budgeting and cost control in contemporary organizations The 21st century business imperative: delivering value added (but to whom?) Towards a cross-functional process-view of the organization Financial vs. Managerial accounting (decision making) Understand your processes: integrating financial and non-financial aspects Identify the key processes/projects for your own organization

Contributing effectively to Strategic Planning

Budgeting and Cost analysis 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: inventory evaluation and control

Linking Budgeting and Forecasting into the Business’ Strategy

Traditional vs. Advanced Techniques in Cost-control

Under-costing and over-costing: the consequences for profitability 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)

Preparing Rolling Forecasts

Role of forecasts and the link to strategy Comparing and contrasting budgets and forecasts Identifying key business drivers The rolling forecast process Forecasting methods

Applying best practice’ risk management and control in your area

Role of risk management in corporate governance Finance’ role in supporting risk management Cost / Effective risk management in Finance’ own processes

Cutting costs and improving effectiveness

Role of cost management in the business strategy Cost management and motivation Embedding cost control in the business Role of Finance in cost control

Beyond the Budgets: Balanced scorecards and Six-sigma

Broadening performance measurement systems The key role of customer satisfaction and business process reengineering Beyond budgeting: integrating financial and non-financial issues Introducing the Balanced Scorecard Introducing the Strategy maps

For more information about this training visit https://www.researchandmarkets.com/research/7vm7p8/effective?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180614005979/en/

CONTACT: ResearchAndMarkets.com

Laura Wood, Senior Manager

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Related Topics:Management,Accounting

KEYWORD:

INDUSTRY KEYWORD: PROFESSIONAL SERVICES ACCOUNTING

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 06/14/2018 01:25 PM/DISC: 06/14/2018 01:25 PM

http://www.businesswire.com/news/home/20180614005979/en

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