This course addresses a number of tools that can be used to examine the cost structure of a business, including analyses for cost objects, constraints, and processes. The course also addresses how to reduce costs in all of the major areas of a corporation, including compensation, sales, production, procurement, and administration. There are extensive discussions of asset reduction techniques, as well as cost management reports and measurements.

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.

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 Management

·         Activity-Based Costing Systems – ABC

·         Activity-Based 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

·         Strategic 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

A variety of methodologies will be used during the course that includes:

·         (30%) Based on Case Studies

·         (30%) Techniques 

·         (30%) Role Play

·         (10%) Concepts

·         Pre-test and Post-test

·         Variety of Learning Methods

·         Lectures

·         Case Studies and Self Questionaires

·         Group Work

·         Discussion

·         Presentation

This rate includes participant’s manual, Hand-Outs, buffet lunch, coffee/tea on arrival, morning & afternoon of each day.

Daily Course Timings:

    08:00 - 08:20       Morning Coffee / Tea

    08:20 - 10:00       First Session

    10:00 - 10:20       Coffee / Tea / Snacks

    10:20 - 12:20       Second Session

    12:20 - 13:30       Lunch Break & Prayer Break

    13:30 - 15:00       Last Session