Duration: 1 Day
Learning Objectives
- Understand budgets within an organisation
- Understand costs within an organisation
Course Content
- The nature and purpose of budgets, and the advantages of budgetary control
- Methods to monitor variance of actual performance against budget
- Causes of variance, their significance and ways of reducing adverse effects
- How to gather information for use in determining and/or revising budgets
- Definition of fixed and variable costs; concept of break even, especially in relation to own organisation
- The purpose and nature of basic cost statements; use of standard costs
- Role of the manager in cost control
- Mechanisms to maintain control of costs, and how to select the optimum method