Effective Budgeting & Operational Cost Control

Effective Budgeting

June 13-14, 2019

In making financial business decisions, the decision maker needs to understand the fundamentals of budgeting and costing. To ensure effective financial management of a department or and even the entire organization, there is the need to prepare a realistic budget and ensure compliance with the approved budget. Furthermore, to ensure this compliance, operational costs need to be monitored and controlled so that as to ensure financial discipline. Effective Budgeting and Operational Cost Control training course will help participants to understand the main concepts and methodology around cost management and budgeting. 

The course will clarify budgeting terms; clearly explain the methodology used and cover traditional budgeting methods through to newer methods and approaches.

This two day intensive programme has been devised to give business decision makers a good understanding on budgets, cost controls, variances and associated analysis that will lead to better decisions being made.


The benefits of attending this program cannot be over emphasized; participants will be able to

  • Apply the essential concepts of accounting, budgets and finance
  • Apply the use of unit cost measurements in performance-based budgeting
  • Maintain strategic cost control.
  • Appreciate the importance of reducing unnecessary costs
  • Identify appropriate outputs for an organizational unit or programme component
  • Determine and apply the costs estimated to produce those outputs and calculate a cost per unit of output.
  • Use best practices to create written budget justifications
  • Locate guidance on budgeting for capital assets, and integrate performance budgeting into your organizations budget formulation process.


  • Introduction: Building a Common Financial Language
  • The key role of budgeting and cost control in contemporary organisations
  • The 21st century business imperative: delivering value added (but to whom?)
  • Towards a cross-functional process-view of the organisation
  • Financial vs. Managerial accounting (for decision making)
  • Understand you processes: integrating financial and non-financial aspects
  • Identify the key processes/projects for your own organisation
  • Contributing effectively to Strategic Planning 
  • Budgeting and Cost analysis
  • 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: inventory evaluation and control
  • Linking Budgeting and Forecasting into the Business’ Strategy
  • Traditional vs. Advanced Techniques in Cost-control
  • Under-costing and over-costing: the consequences for profitability
  • 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)
  • Preparing Rolling Forecasts
  • Role of forecasts and the link to strategy
  • Comparing and contrasting budgets and forecasts
  • Identifying key business drivers
  • The rolling forecast process
  • Forecasting methods
  • Applying ‘best practice’ risk management and control in your area
  • Role of risk management in corporate governance
  • Finance’ role in supporting risk management
  • Cost / Effective risk management in Finance’ own processes
  • Cutting costs and improving effectiveness
  • Role of cost management in the business strategy
  • Cost management and motivation
  • Embedding cost control in the business
  • Role of Finance in cost control
  • Beyond the Budgets: Balanced scorecards and Six-sigma
  • Broadening performance measurement systems
  • The key role of customer satisfaction and business process reengineering
  • Beyond budgeting: integrating financial and non-financial issues
  • Introducing the Balanced Scorecard
  • Introducing the Strategy maps


Class sizes are kept small in order to ensure maximum interaction, engagement and attention from the course tutor. The result is a thoroughly effective learning experience that will enable managers to manage costs and budgets in a skillful, confident way. Participating organization will also be assessed during the cases.


This course is suitable to a wide range of professionals but will greatly benefit those with direct or indirect budget responsibilities within a Team, Department or Division. Personnel who control cost and budgeting for their departments or organizations will also find this course extremely beneficial.

–          In-house training

With a customized in-house training solution, you can adapt the course content to suit your business environment and objectives. A company-specific programme typically begins with an onsite needs analysis, allowing the course instructors to tailor the content to meet your team’s development requirements.

INVESTMENT IN KNOWLEDGE                                         

N80, 000.00, this fee covers expert tuition, training kits and brochure, souvenirs and certificate of completion, feeding (tea break, lunch (buffet) throughout the duration of the Programme.


Diverse documentation is used during the training sessions for assistance and



Workshop participants are required to bring a laptop, which has installed Microsoft Packages.


Venue:             2nd Floor

Lagos Chambers of Commerce & Industry Building (LCCI)

Bola Tinubu Way, Beside Marwa/MKO Garden

Alausa Ikeja,


Date:               June 13-14, 2019

Time:               9a.m. Daily


E-mail: training@spcpatternsconsulting.comCall:  +234 805 444 8597 +234 708 503 9947 +234 809 631 1690

Pay in favour of SPC PATTERNS CONSULTING into the following banks
GTBANK – 0003651617
FCMB – 2733813011

Print & Send Brochure form with a draft in favour of SPC PATTERNS CONSULTING


  • Certificate of participation exclusive to all participants
  • Subscription to this program is currently open and will stay open until one week before the course.