Strategic Cost Management

Human Resource and Organisational Development Consultancy (HRODC) Training Institute
London, United Kingdom

Course Format: Classroom | E-learning | Virtual Class | Online | On-site | Blended | Self-paced

Course Description:

'' DAY 1 �Cost management and Strategy; with a review of key cost concepts

The use of cost management information
The issue of “costing�
Creating cost-aware organizations
Review of some key cost concepts
Product vs. Period costs
Direct and Indirect Costs
Cost behavior: Fixed and Variable Costs
Problems and Examples
DAY 2 �Different Approaches to Costing

Absorption (Full) vs. Variable costing
Under-costing and over-costing: the consequences for profitability
How to refine a costing system?
Activity-based costing (ABC) and cost-management
Cost hierarchy & Cost drivers
Linking resources, activities and management
Introducing Activity-based management (ABM)
Linkages between ABM and ABC �monitoring value creation
Problems, Case Study and Examples
DAY 3 �Different Approached to Budgeting

Fixed and flexed budget (static and flexible budget)
Rolling budget
Zero based budgeting
Activity based budgeting
Master budget
From costing to budget: interpreting variances (variance analysis)
Integrate continuous improvement into variance analysis.
Problems, Case Study and Exercises
DAY 4 �Cost Planning and Pricing Decisions: Life-Cycle-Costing, Target costing and Target Pricing

Linking process development to costing
Target costing, target pricing and its implications
The three major influences on pricing decisions
Distinguish between cost incurrence and locked-in costs
Cost plus approach to pricing
Life cycle product budgeting and costing to assist in pricing decision
Problems, Case study and Examples
DAY 5 �Control Systems and Performance Measurement

Financial and non-financial measures of performance
Design an accounting-based performance measure
Understand ROI, RI and EVA
Strategic performance measurement: Balanced scorecared
New role for managers and management accountants in designing incentive systems
Case, problems and examples
...''

Phone:+44 (0) 20 82657008

School Address:

328 Linen Hall, 162-168 Regent Street, London. W1B 5TD, UK
122A Bhylls Lane, Wolverhampton, West Midlands WV3 8DZ, UK



Jobs & Resumes: London
Houses & Roommates: London
Travel Agencies: London

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