WORKSHOP ON BUDGET PREPARATION, ALLOCATION AND COST CONTROL

2^nd-4^th March, 2026                                                                                                            11^th-13^st May, 2026

12^th-14^th August, 2026                                                                                                        9^th-11^th November, 2026

Introduction

Budget preparation is a process with designated organizations and individuals having defined responsibilities that must be carried out within a given timetable. Budgeting and cost control involves the thorough forecasting of costs, the establishment of consented budgets, and the monitoring of the expenses against that budget. Its objectives include: Determine the work’s expenditure and earnings profiles. Create budgets and manage according to the funding.

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.

This three days workshop is specially designed to address the problem and walk the participants to the nitty gritty of budget preparation, allocation and cost control.

Course Contents

Module One: Budgeting and 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  

Module Two: 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)

Module Three: 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

Module Four: Traditional vs. Advanced Techniques in Cost-Control

• Under-costing and Over-costing: Understand Allocation Methods
• How to refine a Costing Cystem?
• 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)

Module Five: 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
• Connectivity Strategic Goals, Objectives, Actions and Results

Duration: Three (3) days                                                                                                                                  Fee: N250,000

FOR WHOM:

Accountants, Budgets Managers, Planners, Schedulers, Heads of Departments, Financial Managers, Auditors and others who perform related functions in Public and Private Sectors