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This program provides strategic tool for analysing and managing costs, enabling the participants to look at the bigger picture and ensure that the methods used when identifying strategies are geared toward the financial risk and cost management of the business. The training program outline is up to date and pertinent to marketplace requirements, thus catering well to all analytical prediction of training needs in the specified area. A customised proposal can also be arranged, to suit the training requirement of your team.

Who Should Attend?

Financial managers/directors, accountants can get a good grip on developing important tools for planning and decision making.

Course Outline

  • Introducing linkages between strategy and costing
  • Managing contemporary organisation
  • Strategic Plan, Budgeting, Costing and Management Control
  • Management Accounting for organizational control systems
  • Responsibility accounting and the process-view
  • The context for costing
  • The Budget and its role for achieving organizational targets
  • What is it the situation in your organisation?

COST ANALYSIS AND CLASSIFICATIONS

  • Cost terms and classification
  • Inventorial vs period costs
  • Manufacturing vs non-manufacturing costs
  • Variable vs Fixed costs (CVP analysis)
  • Direct vs indirect cost
  • Under-costing and Over-costing problems
  • Problems and Examples – Case study illustration

FROM COST ACCOUNTING TO MANAGEMENT CONTROL

  • Cost allocation: traditional costing and activity-based costing (ABC)
  • From traditional budgeting to Activity-based budgeting (ABB)
  • Activity-based management
  • Decentralized organizations
  • CostlProfitlInvestment centres
  • Transfer-pricing issues
  • Problems and Examples – Case study illustration

FLEXIBLE BUDGETS AND VARIANCE ANALYSIS

  • The features of budgetary control
  • Define the master budget and explain its major benefits to an organization
  • Describe the difference between a static budget and a flexible budget
  • Compute flexible-budget variances and sales-volume variances
  • Explain why standard costs are often used in variance analysis
  • Integrate continuous improvement into variance analysis
  • Case study, problems and exercises

LINKING STRATEGY TO ACTIONS: BEYOND COSTING

  • Shortcomings of traditional approaches to measurement
  • The Balanced Scorecard: linking Strategy to Performance Measurement
  • Financial perspective, Customer perspective
  • Internal Business Process perspective, Learning and growth perspective
  • Developing and adapting scorecard
  • Case study illustration

 

Course Objectives

Delegates will gain knowledge and skills to:

  • Product Costing Systems
  • Concepts and Design Issues
  • Activity-Based Management
  • Managing Customer Profitability
  • Process Costing and Cost Allocation

General Notes

  • All our courses can be facilitated as Customized In-House Training course.
  • Course duration is flexible and the contents can be modified to fit any number of days.
  • As for Open Enrolment Courses, we offer our clients the flexibility to chose the location, date, and time and our team of experts who are spread around the globe will assist in facilitating the course.
  • The course fee includes facilitation, training materials, 2 coffee breaks, buffet lunch and a Certificate of successful completion of Training.
  • FREE Consultation and Coaching provided during and after the course.
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Course Curriculum

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