Cost Management: Fundamentals and Techniques

ICTD International Centre for Training and Development

ICTD International Centre for Training and Development

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Read more about Operations

Operations management has recently become a crucial part of any company's framework. This complex process focuses on reducing organizational expenses ...

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

About the course

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.

## Course Objectives

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.

## Course Outline

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

Videos and materials

Cost Management: Fundamentals and Techniques at ICTD International Centre for Training and Development

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Disclaimer

Coursalytics is an independent platform to find, compare, and book executive courses. Coursalytics is not endorsed by, sponsored by, or otherwise affiliated with any business school or university.

Full disclaimer.

Read more about Operations

When it comes to operations control, whether you’re trying to optimize workflow or marketing and sales operations, you need to impact as many variables at once as possible in order to have a greater effect. However, it's not always that easy. How sho...

Because of COVID-19, many providers are cancelling or postponing in-person programs or providing online participation options.

We are happy to help you find a suitable online alternative.