Planning and management control are essential for contemporary organizations. This Essentials of Budgeting & Cost Control training course will include widely used tools and techniques for short-term planning, monitoring and sustaining performance – budgeting and budgetary control.
Budgeting and strategic management are both inextricably linked together. Realistic budgets depend on accurate cost analysis and forecasting. It is essential to understand how costs behave to be able to plan realistically and implement the use of appropriate financial and non-financial performance measures. Budgetary control best practice uses flexed budgets to calculate variances against actual performance and enable corrective actions.