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This cost management training course equips delegates to become efficient cost managers by exploring ABC and ABM in detail  and much more. 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.

Course Objectives:

By the end of this cost management program, participants will be able to:

  • Discover the importance of analysing and managing costs
  • Explore Activity-Based Costing (ABC) and Activity- Based Management (ABM)
  • Realize the importance of process costing and cost allocation
  • Develop important tools for planning and decision making
  • Evaluate and manage performance through strategic cost management

Course Outline:

  • Strategic Need for Analysing and Managing Costs
  • Definition of Cost Management
  • Dimensions of Cost Management
  • Product Costing Systems: Concepts and Design Issues
  • Cost Behaviour, Types and Hierarchy
  • Cost Accumulation for Job-Shop and Batch Production Operations
  • Variable versus Absorption Costing
  • Cost Management Decisions
  • Decision Making Process
  • Identifying Relevant Costs
  • Evaluating Alternatives
  • Outsourcing Decisions Make/Buy
  • Add or Drop Product/Business Line
  • Replacing Equipment
  • Special Order Pricing Decisions
  • Activity-Based Management
  • Activity-Based Costing Systems (ABC)
  • Analysing Value-Added versus Non-Value-Added Activities
  • Activity-Based Management (ABM)
  • Managing Customer Profitability
  • Managing Quality and Time to Create Value
  • Cost Estimation and Transfer Pricing
  • Cost Estimation Techniques
  • Identifying and Choosing a Cost Driver
  • Simple and Multiple Regression Analysis
  • High-Low Method
  • Applications in Microsoft Excel
  • Allocating Costs of Support Departments
  • Direct Method
  • Step Method
  • Reciprocal Method
  • Inter Group Transfer Pricing Issues
  • Evaluating and Managing Performance
  • Cost-Volume-Profit Analysis
  • Breakeven Point for Multiple Products
  • Target Income
  • Operating Leverage
  • Margin of Safety
  • Managing Scarce Resources
  • Flexible Budget and Activity-Based Budgeting
  • Strategy, Balanced Scorecards and Performance Measurement

Who should Attend?

Financial managers/directors, accountants, financial assistants, budget accountants, analysts, budget and planning managers and coordinators, operations managers, facilities managers and any professional interested in cost management.

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.
Customized Schedule is available for all courses irrespective of dates on the Calendar. Please get in touch with us for details.
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