The objective of the training program is to assist participants to develop a better understanding of Costing aspects of business. Costing function is the backbone of any business and is intricately linked with business survival & growth.
At the same time, it is no longer the domain of finance & costing department only. Business Manager’s awareness of Costing concepts can have a direct bearing on the effectiveness of the strategic business unit, team and corporation as a whole. No business manager can, therefore, afford to be ignorant of Costing concepts.
The program is specifically devised keeping in mind the requirements of industry & is customized to meet the requirements of changing trends in the business outlook.
This program is expected to be module that focuses on strategy, & decision-making aspects. That would be helpful for the business managers to develop comfort with the application of the concepts discussed in this program.
Who Should Attend?
- Chief Operating Officers & Operation Directors
- Budget Officers / Forecasting Specialists
- Strategic Planners
- Non-Finance Managers in key positions
- Supply Chain Professionals
- Purchase Heads
- Production people
- Introduction to Costing and Cost Management – An overview of mapping stakeholders for the purpose of MIS & Decision Making
- Types of Costs – FC, VC, TC, TVC, TFC, AVC, AFC, AC, MC, Product Cost, Step Cost, Period Cost to name a few along with examples on each one
- Principles of Cost Management – Reports for analysis and Cost Sheet with practical examples
- Costing for Decision Making – Relevant Cost Approach along with case studies on the same
- Costing for Decision Making – Relevant Revenue Approach along with case studies on the same
- Long Term vs Short Term Decision Making – “Every Action has a Financial Reaction” – Costing from perspectives of decision maker, manager and accountant
- Techniques of Costing – An Introduction. Comparison between traditional and modern techniques with examples
- Absorption Costing vs Marginal Costing. Comparison of traditional industrial age costing technique with modern business decision-making approach with case studies on the same
- Contemporary Costing Techniques including Target Costing, Activity Based Costing and Just In Time (JIT) approach.
- Understand and explain the structure of the framework of cost management.
- Apply costing principles two decision making and control, the two most important pillars of business.
- Use the latest costing techniques for short term and long term decision making.
- Analyse the data required to create an MIS (Management Information System) around the cost management framework.
- 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.