An Interactive 5-Day Training Course
Advanced Budgeting & Cost Management
The Complete Course on Budget - Estimating, Budgeting & Cost Control
Course Overview
This Advanced Budgeting & Cost Management training course provides participants with key cost awareness and budgetary skills, which are essential for managing and controlling resources in times of increasing global competition where the budgets are inextricably linked with both the achievement of strategic objectives as well as with evaluation of future plans and initiatives.
Budgeting and cost analysis are crucial elements for the management of contemporary organizations. Nowadays, if companies want to stay competitive, they are urged to link their strategies with accurate systems of resource allocation and performance measurement. Along this line, budgeting, as well as tracking, controlling & reducing cost represent essential activities to be performed and monitored by organizations as they implement their key processes, activities and operations. In addressing these issues, this training course is relevant for those professionals & analysts facing the difficult challenge of improving performance while reducing costs of those processes for which there are accountable.
In particular, this GLOMACS training course enables participants to:
- Link budgeting and costing with strategy execution
- Understand the critical factors which have an impact on business processes
- Discuss about modern system of cost analysis for budgeting purposes
- Master the budgeting and financial skills required for better decision-making
- Identify sources of financial and operational data to support the budgeting process
- Explore the best practices required to manage the multiple organizational performances
Training Outline
DAY 1: Introduction: The Relevance of Budgeting and Cost Management within Strategy Execution
- The Link between Strategy, Planning, Budgeting and Cost Management
- Why Budgeting and Costing are so important to manage your company?
- Financial & Management Accounting
- Preparing Financial Statements & Cost Evaluation
- Understand your Processes: Integrating Financial and Non-financial Aspects
- Identify and Discuss the Key issues in terms of Budget / Costing for your own Organization
DAY 2: The Budgeting Framework and its Role within the Management Process
- The Role & Types of Budgets within Management Accounting
- The Budget Process
- Preparing the Master Budget & Departmental Budgets
- Preparing a Project/CAPEX Budget
- Advantages and Disadvantages of Budgets & the Budget Process: The Critical issues for Success
- Budgetary Control
DAY 3: Cost Management for Budgeting Purposes
- Cost Classification, Concepts and Terminology
- Fixed vs. Variable Costs: The Cost-Volume-Profit Analysis Model
- Contribution Margin Analysis
- Estimating / Forecasting Costs
- Calculating, Evaluating & Managing the Cost of:
- Purchases
- Manufacture
- Inventory (IAS 2)
- Working Capital
- Improving Efficiency to Reduce Costs
DAY 4: Traditional vs. Advanced Techniques in Cost-Control
- Under-costing and Over-costing: The Consequences for Profitability
- How to refine a Costing System?
- Indirect vs. Direct costs: Traditional Cost Allocations Systems vs. Activity-Based Costing
- Cost Drivers: Linking Resources, Activities and Management
- Introducing Activity-Based Budgeting (ABB) and Management (ABM)
DAY 5: Broadening the Performance Measurement Systems
- Shortcomings of Traditional Approaches to Budgeting and Performance Measurement
- Recent Best Practices: the Balanced Scorecard and Six-sigma
- Financial Perspective and Customer Perspective
- Internal Business Process Perspective and Learning & Growth Perspective
- Developing and Adapting the Scorecard
- Elkington’s Triple Bottom Line: Profit, People & Planet
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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