An Interactive 5-Day Training Course
Budget Preparation, Allocation and Cost Control
Principles of Traditional & Advanced Cost Techniques
Course Overview
Budget Preparation, Allocation & Cost Control training is essential for organizations and assists them in the decision making and planning process. This seminar provides participants with crucial cost awareness and budgetary skills by combining techniques analysis, problems and examples of real case studies, which is essential in managing and controlling processes / projects in times of increasing global competition where the budgets are inextricably linked with both strategy formulation and cost analysis.
The effective management of budgeting and cost control is crucial for contemporary organizations. In a modern competitive world, companies want to stay competitive; they are urged to think in terms of process-value added to customers / shareholders. Along this line, budgeting, as well as tracking, controlling & reducing cost, represent essential activities that should be monitored efficiently by organizations as they implement their key processes, activities and operations.
In addressing these issues, this GLOMACS Finance & Budgeting training seminar on Budget Preparation, Allocation & Cost Control is relevant for those professionals & analysts facing the difficult challenge of improving performance while reducing the costs of those processes for which they are accountable.
This training course will feature:
- Identifying the role of budgeting within the organization’s management system
- Developing a proper system of cost analysis for budgeting purposes
- Mastering the budgeting and financial skills required for better decision-making
- Linking strategy to operational plans
- Learning new best practices to manage organizational performance
- Integrating organizational drivers with strategic objectives
- Understanding of the interrelationship between financial and pre-financial drivers
Training Outline
DAY 1: Budgeting & Cost Control in the Management System: Link with Strategic Planning
- Budgeting and the Management System of Contemporary Organizations
- Strategic Planning, Budgeting and Management Control
- Strategic Management Accounting – Setting Goal and Objectives
- From Strategic to Operating Plans – Actions and Initiatives
- Measuring and Managing the Performance – KPIs and targets
- Managerial Accountability
DAY 2: Budgeting: Principles and Key Concepts
- Understanding the Context for Budgeting
- The Benefit of Budgeting and its Role for Achieving Organizational Targets
- The Shortcomings of the Budgeting Process - How to improve them?
- Principles of Budgeting
- Main Issues with Budget Preparation
- Capex (Capital Expenditures) vs. Opex (Operational Expenditures)
DAY 3: Cost Analysis for Budgetary Purposes
- Cost Concepts and Terminology
- Different Costs for Different Purposes
- Fixed vs. Variable Costs: The Cost-Volume-Profit Analysis Model
- Contribution Margin Analysis
- Manufacturing vs. Non-manufacturing Costs
- Period vs. Product Costs
DAY 4: Traditional vs. Advanced Techniques in Cost-Control
- Under-costing and Over-costing: Understand Allocation Methods
- How to refine a Costing System?
- Indirect (OH) vs. Direct Costs
- Traditional Cost Allocations Systems vs. Activity-Based Costing (ABC)
- Cost Hierarchy & Cost Drivers - Linking Resources, Activities and Management
- Introducing Activity-Based Budgeting (ABB) and Management (ABM)
DAY 5: New Integrated Performance Measurement Systems
- Beyond Budgeting: Integrating Financial and Pre-financial Information
- The Drivers of Value Creation
- The Balanced Scorecard
- Strategy Maps
- Integrated Reporting
Certificates
- On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
- Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance
Accreditation
GLOMACS is registered with NASBA as a sponsor of Continuing Professional Education (CPE) on the National Registry of CPE Sponsors. NASBA have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket.org.
All Training Seminars delivered by GLOMACS by default are eligible for CPE Credit.
Providers and Associations
About Saudi Glomacs
At Saudi GLOMACS, we specialize in delivering world-class training courses in Saudi Arabia and across various international locations. Our training courses are tailored to meet the unique demands of Saudi Vision 2030 and the Human Capability Development Program, focusing on empowering Saudi citizens and enhancing workforce skills. We offer diverse courses spanning leadership, management, engineering, and technical disciplines to cultivate expertise and drive professional growth. Our flexible learning options—whether in-person, online, or in-house—ensure accessibility and convenience for individuals and organizations alike.
With over 30+ years of experience through the GLOMACS global network, we are committed to delivering innovative, results-driven training solutions. Our expert instructors combine industry knowledge with dynamic teaching methods, fostering practical skill development and long-term career success. By choosing Saudi GLOMACS, you're investing in personal excellence and contributing to the Kingdom’s sustainable economic growth and vision-driven transformation.
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