Cost Analysis and Control - Code CAC
| Objective |
: |
To provide an understanding of business costing and develop skills and cost conscious thinking. |
| Upon completion |
: |
Participants would be able to understand the costing components of common business activities and a framework for developing cost control in their areas of responsibilities. |
| Methodology |
: |
Instructor led discussions, followed by scenario analyses and self reflection exercises. |
| Duration |
: |
2 days |
Course Outline
| I. |
Organizational costs & Profit impact
a. The income statement
b. Revenue and costs
c. Profit and pricing relationships |
| II. |
Cost Information Systems & Control
a. Cost concepts
b. Cost information and analysis
c. Product costing methods |
| III. |
Cost revenue relationships and Decision Making 1
a. Product contribution and profitability
b. Cost breakeven analysis
c. Application of costing break even
|
| IV. |
Cost revenue relationships and Decision Making 2
a. Standard costing – overview
b. Variance analysis and practice
c. Budgeting and budgetary controls
d. ABC – Activity Based Costing |
| V. |
Cost savings and Productivity programmes
a. Waste identification – economics of waste reduction
b. Managing wastage: materials/ labour and overheads
c. Implementation of cost savings – how to do it |
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