Day 1:
Introduction to Cost Management and Budgeting
Overview of Cost Management and its Role in Business Success
The Fundamentals of Budgeting: Objectives and Process
The Relationship Between Cost Management and Strategic Planning
Key Cost Management Models: Fixed vs. Variable Costs
Day 2:
Costing Techniques and Budgeting Methods
Activity-Based Costing (ABC) and its Application
Standard Costing and Variance Analysis
Budgeting Methods: Traditional, Incremental, and Zero-Based Budgeting
Forecasting and the Importance of Rolling Forecasts
Day 3:
Budget Preparation and Resource Allocation
Developing Comprehensive Budgets for Operations and Projects
Prioritizing Resource Allocation Based on Business Goals
Understanding Cost Behavior and its Impact on Budgeting
Risk Management in Budgeting: Identifying and Mitigating Financial Risks
Day 4:
Budget Control and Monitoring Techniques
Tracking Budget Performance and Variance Analysis
Tools for Monitoring Financial Performance: KPIs and Financial Ratios
Adjusting Budgets in Response to Operational Changes
Managing Cash Flow and Ensuring Financial Liquidity
Day 5:
Ethical Considerations and Advanced Budgeting Strategies
Ethical Standards in Cost Management and Budgeting
Cost Cutting vs. Strategic Investment: Finding the Right Balance
Advanced Budgeting Techniques: Beyond Basic Budgeting
Review, Case Studies, and Final Assessment
