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Cost Center Management
Course Description
Overview
The Cost Center Management course is designed to provide students with an introduction to the budgeting process. It is ideal for new managers that do not have a budgeting background, seasoned managers that have not had cost center responsibility, and/or anyone who does not have experience in corporate budgeting practices.This class takes a very narrow view of budgeting. It specifically concentrates on the issues, responsibilities, and activities of cost center managers. That is, as a manager responsible for department expenses.
Objectives
Audience
- IT Managers
- New IT Managers
- Soon to be IT Managers
Topics
- Importance to your company, manager and peers
- Importance to you
- Your relationship with the Finance Department
- Budget items where you have no control, some control and full control
- Current year expenses vs. capitalized expenses
- Tools used in the budgeting process
- Budget Timing
- Techniques for forecasting the following year’s expenses
- Budget vs. actual reporting throughout the year
- Initial budgets, approved budgets, revised forecasts, revised budgets, and budget reporting
- Your manger says company revenues are down, do you offer to cut your group’s budget?
- When building next year's budget, how do you plan for unforeseen expenses?
- You're 6 months into the year and realized your budget won't reach year end. What next?
- Quiz-type questions to help you assess your understanding of the material
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Self-Paced Training Info
Learn at your own pace with anytime, anywhere training
- Same in-demand topics as instructor-led public and private classes.
- Standalone learning or supplemental reinforcement.
- e-Learning content varies by course and technology.
- View the Self-Paced version of this outline and what is included in the SPVC course.
- Learn more about e-Learning
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Exam Terms & Conditions
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