Vlerick Business School Executive Education

Mastering Costs and Budgets

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About the course

How do you compile cost data? How do you calculate the cost? And how do you establish a budget?

This programme is a source of invaluable advice. We provide you with the right knowledge and instruments to allow you to better assess the profitability of products, customers and markets.

Once you have followed the programme, you will be capable to set up a simple cost system and perfectly explain the meaning of Activity Based Costing. Not to forget, establishing and analysing a budget will also become a piece of cake.

Why This Programme?

What is the added value of following the programme 'Mastering Costs and Budgets'?

  • Master the key concepts and various techniques used to calculate costs
  • Learn to recognise the difference between relevant and irrelevant costs and yields
  • Become an expert in Activity Based Costing (ABC)
  • Acquire the necessary techniques for establishing a budget

Detailed Programme

The programme 'Mastering costs & budgets' consists of three days:

Module 1: Costing Concepts

  • Key concepts such as variable and fixed costs, direct and indirect costs, differential and opportunity costs
  • Various techniques for cost calculations
  • What is contribution?
  • How to calculate actual, standardised and variable costs?

Module 2: From Full Costing to Activity Based Management

  • How do you distinguish relevant from irrelevant costs and yields?
  • What is Activity Based Costing (ABC)?
  • How does ABC help to proactively control cost?

Module 3: Budgeting

  • What is a budget?
  • Why do organisations use budgets?
  • How are budgets created?

Who should attend

  • Managers having no or little prior knowledge of Accounting. Note that basic knowledge of Excel is strongly recommended. Some free and good tutorials you can find here.
  • Professionals seeking to increase their competence in cost calculation and the budgeting process

In previous editions, we had the pleasure of welcoming Marketing Managers, Programme Managers, Project Managers, Business Unit Managers, CEOs, Consultants… from companies like Electrabel, ING, Tupperware and also several SMEs.

Trust the experts

Filip Roodhooft

Filip shows you how the finance function can act as a real business partner for your organisation by using accounting information for decision making and strategy execution. Filip Roodhooft obtained a PhD in Accounting at University of Antwerp in 1994. He is now Full Professor of Accounting at K...

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Kristof Stouthuysen

Kristof knows “how to be in control” by showing when and how strategic management accounting systems may assist suppliers in improving their performance. Kristof Stouthuysen is Doctor in Applied Economic Sciences (KU Leuven, Belgium). He currently works as Associate Professor of Accounting and Co...

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