Effective Budgeting & Cost Control

Course Details


Start: Mon 19 June 2023

End: Wed 21 June 2023


Time Oak Hotel
Abdulla Omran Tayram St
Al Thanyah 1
Tecom - Dubai
United Arab Emirates

Course Investment

AED 0.00 (inc VAT)

Effective Budgeting & Cost Control Mon 19 June 2023 - Wed 21 June 2023

Related Courses

Effective Budgeting & Cost Control

This 3-day Effective Budgeting & Cost Control course provides participants with a comprehensive understanding of the importance of financial control in business. It covers key concepts such as management accounting, financial accounting, budgeting, cost management, working capital, and investment appraisal. The course is designed to equip participants with the skills and strategies needed to improve their budgeting and cost control abilities, and to apply these techniques in their organizations.

Throughout the course, attendees will learn to identify the relationship between business management and financial management, prepare key elements of operating and capital budgets, evaluate different budgeting approaches, analyze management variance reports, and utilize cost-volume-profit analysis to make budgeting decisions. The course also covers the key financial statements, cost analysis and management, and the nature and purpose of budgets for planning and control. By the end of the course, attendees will have gained the knowledge and skills needed to effectively manage budgets and control costs in their organizations..

Course Outcomes

  • Understanding the importance of linking an organization’s budget with its strategic plan.
  • Demonstrating how the budget relates to the key financial statements: balance sheet, income statement, and cash flow.
  • Preparing the key elements of an operating and capital budget and evaluating different budgeting approaches used.
  • Applying cost control tools, analyzing management variance reports and taking proper corrective action.
  • Calculating different capital budgeting evaluation techniques as included in a capital expenditure proposal.
  • Utilizing cost-volume-profit analysis in making budgeting decisions.
  • Understanding the cost structure and behavior and its relationship to outputs.
  • Understanding the concept of contribution margin and break-even analysis for planning and control.
  • Cost allocation and apportionment and conducting benefit-cost analysis.
  • Understanding the nature and purpose of budgets for planning and control.
  • Types of budgets and budgeting, creating Key Performance Indicators for financial and non-financial performance.
  • Building a budget and budgetary control and variance analysis.
  • Budgeting for non-financial measures, including the introduction to the Balanced Scorecard

Course Content


The Need for Financial Control in Business

  • Understanding accounting
  • Differences between management accounting and financial accounting
  • The connection between business management and financial management
  • The role of budgeting in the bigger picture
  • How cost management improves a company’s financial position
  • Key elements of managing working capital

The Key Financial Statements

  • Overview of the accounting system
  • The income statement
  • The balance sheet
  • The cash flow statement

Capital Budgeting and Investment Appraisal

  • Understanding the time value of money
  • Appraisal techniques such as Net Present Value (NPV), Internal Rate of Return (IRR), and Payback period
  • Selecting an appraisal technique
  • Utilizing sensitivity analysis in project evaluation
  • Strategic considerations in assessing capital projects
  • Creating an effective Capital Budgeting framework

Cost Analysis and Management

  • Understanding the cost structure and behavior
  • The relationship between costs and outputs (cost/volume/price relationship)
  • The concept of contribution margin
  • Break-even analysis for planning and control
  • Cost allocation and apportionment
  • Benefit-cost analysis

Budget Construction and Control

  • The purpose of budgets for planning and control
  • Different types of budgets and budgeting
  • Creating Key Performance Indicators for both financial and non-financial performance
  • Building a budget
  • Budgetary control and variance analysis
  • Budgeting for non-financial measures, including the Balanced Scorecard approach.

Training Methods

By all means, bring your pencil case, and yes, there will be handouts, but there will be a lot more discourse, debate, improvisation, role play, technology, practice, and group dynamics. The training will be conducted in a friendly, fun atmosphere, which not only allows for different learning styles but respects each delegate as an individual and ensures each one is challenged and derives maximum benefit from the course. Our aim is that you will be highly stimulated and encouraged to rethink.


Meet the Course Instructor

ISM Training - Course Instructor
Clive has worked within the GCC for 24+ years over this span he has worked with multi-national, local companies and several government bodies as well as writing and delivering papers at the 3rd and 4th Middle East quality conferences. He has also had his work featured in The Chartered Banker magazine.

He has been active in all aspects of Finance and Management for over 40 years and is the Managing Director of a highly respected UK personal development company.

His clear communication style helps to make what can be very complex issues, simple and understandable with actionable ideas and recommendations.

Clive has developed and delivered a series of training programs across the Gulf region always giving the best results for his clients. With the tools he has developed along the way he has a wealth of knowledge and case studies to support his training courses.

His innovative thinking and techniques make him one of our most in-demand trainers in the GCC.

Book your place

Effective Budgeting & Cost Control

Mon 19 June 2023 - Wed 21 June 2023

Location: Time Oak Hotel

AED 0.00 (inc VAT) per delegate

To book your place please complete the short form below

    Get exclusive content, tips, and special offers. Sign up today!