Description

Background

As the primary target of any business is to increase profit, proficient financial planning should be at the forefront of any company’s goals. Cost Control is therefore seen as a crucial practice for organizational success. These skills are necessary when setting up Financial systems, or when refining existing systems. Managers of all calibers should strive to increase their knowledge in this field.

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Benefits

This Course will provide you with:

• The ability to identify different categories of costs
• The ability to define the need for and role of cost control
• The tools needed to control costs effectively and set up budgeting measures
• The skills to create an awareness of budgeting and cost control across your organization

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Who Should Attend

This course targets managers and junior staff working in Small to Medium sized-enterprises (SMEs). These include directors, departmental heads, accountants and employees in supervisory roles. Freelancers and business owners will also find this comprehensive Course most profitable.

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Curriculum

Day One

• Financial Planning
• Costs and expenses
• Direct costs and indirect costs
• Fixed costs and variable costs

Day Two

• Budgeting exercises
• Stakeholder management
• Identifying controllable and uncontrollable costs
• Reducing controllable costs

Day Three

• Budget execution and management
• Setting up cost standards
• Analysis of cost variances
• Cost information and decisions

Day Four

• Cost centers
• Three steps in controlling costs system: 1)Collecting costs, 2)Analyzing costs and 3)Controlling Cost
• Cost codes
• Key success factors