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The aim of this workshop is to introduce participants to the basic principles of Company costings. Assuming no prior knowledge, the workshop sets out some Costing and Budgetary Methods and allows you, through discussion and practical exercises, to increase your understanding of costs and budgets as they might relate to your own department.

By the end of the workshop delegates will have:

• An improved knowledge and understanding of how they can affect the economic performance within their department.
• An understanding important cost types i.e. direct, indirect.
• An understanding of their role in adding value and controlling costs.

Delegates will be able to:

• Analyse basic financial data relating to their work.
• Identify areas for improvement.
• Communicate profit improvement ideas to others.

• Personal Budget – examining the similarities & differences of organisational & personal accounting
• Sources of income & expenditure
• The Departmental Budget
• Fixed & Variable Costs
• Use of Resources
• Identifying Areas of Waste
• Establishing Improvements & Setting a Programme of Action
• Stock Control
• The Importance of Accurate Record Keeping
• The Effects of Waste to the Bottom Line
• Action Planning

Those within the Company who require an introduction to Costing and Budgeting in order to improve their economic performance.