Cost Control
Cost Control
Cost Control
The process which helps in identifying and reducing the overall business expenses is known as Cost Control. The process also help you in maximising the profits, it starts with budgeting process.
The cost controller or business decision marker compares the actual financial result with the budgeted expectations and if the actual costs are higher than planned in the budget, the management should be informed about same so that they can take the necessary decisions.
Table of Contents
- Introduction to Cost Management
- Introduction to Cost Management processes
- Estimate Costs
- Determine Budget
- Control Cost
- Earned Value Management
Exam Format and Information
Cost Control FAQs
What is Cost Control?
The practice used by finance professional to control the business overall expenses and helps them to increase profits is known as cost control. This function is basically done by finance professionals, cost accountants, cost controllers, these professionals’ help organizations to monitor cost performance and plan a budget for each project, and it helps in increase in financial performance.
Who is the target audience for this exam?
This exam is well suited for wide range of professionals, especially those who are engaging with direct or indirect budget responsibilities within a team, a department or a division.
What skills are required for this exam?
- Knowledgeable in Cost Management
- Budgeting knowledge
- Knows Earned Value Management (EVM)
- Can analyze a cost report
- Proficient in Microsoft Excel
What are the career prospects after completing this exam?
- Cost Control specialist
- Cost Accountant
- Costing Professional
- Finance Controllers
What are the exam objectives?
- Introduction to Cost Management
- Introduction to Cost Management processes
- Estimate Costs
- Determine Budget
- Control Cost
- Earned Value Management