Effective Budgeting and Operational Cost Control

This intensive Effective Budgeting and Operational Cost Control course from BOC is designed to ensure that managers are able to reach this goal by providing a thorough overview of the key concepts and methodologies involved in cost management and budgeting. In order to provide a complete picture, it also explores the issue of operational costs and how these will need to be controlled in order to promote financial discipline and also respect budgeting limits.

By the end of the course, participants will have the ability to:

• Apply the core principles of finance, accounting and budgets
• Use unit cost measurements in performance-based budgeting
• Maintain strategic cost control
• Understand the importance of minimising unnecessary costs
• Determine adequate outputs for an organisational unit or programme component
• Assess the costs needed to produce those outputs (including cost per unit)
• Write budget justifications according to best practice guidelines
• Integrate performance budgeting into the wider company budget formulation process
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