Cost Management: Strategies for Business Decisions
Course End Date:
By the end of the program, participants will be able to:
* Learn the importance of analyzing and managing costs.
* Understand Activity-Based Management – ABM.
* Appreciate the importance of process costing and cost allocation.
* Develop important tools for planning and decision making.
* Evaluate and manage performance through strategic cost management.
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 control.
Setting the Strategic Foundation: The Importance of Analyzing and Managing Costs
* Cost Management
* Product Costing Systems: Concepts and Design Issues
* Cost Accumulation for Job-Shop and Batch Production Operations
* Activity-Based Costing Systems – ABC
* Activity-Management Management – ABM
* Managing Customer Profitability
* Managing Quality and Time to Create Value
Process Costing and Cost Allocation
* Process-Costing Systems
* Joint-Process Costing
* Managing and Allocating Support-Service Costs
Planning and Decision Making
* Cost Estimation
* Financial and Cost-Volume-Profit Models
* Cost Management and Decision Making
* Sategic Issues in Making Investment Decisions
* Budgeting and Financial Planning
Evaluating and Managing Performance
* Standard Costing, Variance Analysis, and Kaizen Costing
* Flexible Budget, Overhead Cost Management, and Activity-Based Budgeting
* Transfer Pricing
* Strategy, Balanced Scorecards, and Incentive Systems