Cost Control Practice Exam
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.
Cost control should be considered as an important factor while maintaining the growing profitability.
Examples of cost control are:-
- Planning the budget properly
- Monitoring all expenses using checkpoints
- Having time management
- Tracking earned value
Who should give this exam?
This exam is specially meant for professional who are engaging in cost controlling activities, like cost control specialist, cost accountants, financial professionals.
Skills Required
- Knowledgeable in Cost Management
- Budgeting knowledge
- Knows Earned Value Management (EVM)
- Can analyze a cost report
- Proficient in Microsoft Excel
Career Prospects
- Cost Control specialist
- Cost Accountant
- Costing Professional
- Finance Controllers
Table of Content
- Introduction to Cost Management
- Introduction to Cost Management processes
- Estimate Costs
- Determine Budget
- Control Cost
- Earned Value Management
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