Certification·Budget & Cost Centers·Intermediate
Budgeting & Cost Control
Understand cost centres, cost and revenue budgets, time phasing, approvals and the comparison of commitments with actual costs.
What you will learn
- Explain cost centres, cost codes and work packages.
- Build an understanding of budget estimates, revenue plans and time distributions.
- Interpret budget checks and variances without confusing available budget with cash.
Lessons · 10 lessons
1Budgets, commitments and actual costs: three different views of spending4 min2Cost centres and responsibility: defining where financial control belongs4 min3Disciplines and cost codes: explaining what kind of work consumes the budget4 min4Work packages: connecting a deliverable with its cost and revenue plan4 min5Building a cost budget: choosing the right detail and quantity basis4 min6Revenue budgets and expected margin: separating the commercial plan from recognised income4 min7Phasing and forecasts: when the budget is expected to be used4 min8Approval and controlled changes: keeping the financial plan trustworthy4 min9Transaction budget checks: interpreting warnings, stops and overrides4 min10Budget analysis: turning a variance into an informed decision4 min
Skills
Cost responsibilityBudget structure and phasingCommitments and actual costsBudget controlsVariance analysis
