Course Details

Course Title: Account, Banking and Finance: Cost management and budgeting

Course Language: English

Qualification Required: All Level are welcome

Mode-Of-Training: Classroom

Duration: 9am - 6pm (Lunch break 1hr)

Job Level: Suitable for anyone who required to plan and control costs and manage budget.

Organisations face the issue of making difficult costing and budgeting choices that ensure profitable decisions for the company when changes in the financial markets start affecting the economy. Managers and executives must understand the approach behind cost calculation in order to gain a strong balance in allocating resources along with driving and tracking revenues.

This course aims to explain the various key elements, concepts and application of Cost Management and Budgeting, which are commonly used for monitoring internal financial performance and making future business plans.

Course Objective

  • Gain understanding of the concept of cost management
  • Know the various factors that affect cost management
  • Learn to use cost management information for planning and controlling
  • Define budgeting and its role in planning, controlling and decision making
  • Understand the budgeting process
  • Maintain budgetary control

Course Content

Overview of Cost and Management Accounting

  • Differences between Financial Accounting, Cost Accounting and Management Accounting
  • Understanding nature of costs and their behaviour

Cost-Volume-Profit Analysis

  • Semi-variable costs
  • Fixed & variable costs
  • Break even analysis
  • Contribution
  • Margin of safety

Short-term decision making

  • Assessing opportunity to enter contracts
  • Most efficient use of scarce resources
  • To make or buy?
  • To close or continue?

Costing of product

  • Absorption costing
  • Activity-based costing
  • Identifying cost drivers of activities

Factors influencing cost management

Budgets and budgeting

  • Purpose of budgeting
  • Benefits of budgeting
  • Why budget fails?
  • Budgeting process
  • Types of budgeting

Performance measurement linking budgeting to business objectives

  • Divisional performance by cost,profit and investment centres
  • Budget variance analysis

Course Information

  • Course Fee: SGD$378.00
  • Categories: Management
  • Instructor: -
  • Session (Days): 1
  • Duration (Hours): 8hrs
  • Course Medium: English
  • Level: All Level
  • Course Date: 29 June 2018

SkillFuture Reference: CRS-N-0040459

This course is full day, starting at 9am until 6pm. The cost is inclusive of all materials, refreshments and snacks. Course date/venue subject to change if warranted by circumstances.

How to Register

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    Example of SMS Format: "Mr John Lim" "email address" "Title of course"
  3. Call: Call us at +65 8265 5000 and discuss your interest with our Admin Officer