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Certificate in Cost Management

Program Objectives:

By the end of the program, participants will be able to:

  • Discover the importance of analyzing and managing costs.
  • Explore Activity-Based Costing - ABC and Activity Based Management - ABM.
  • Realize the importance of process costing and cost allocation.
  • Develop important tools for planning and decision making.
  • Evaluate and manage performance through strategic cost management.
  • This Program is designed for:

    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.

    Program Outline:

    Setting the Strategic Foundation:
    The Importance of Analyzing and
    Managing Costs
    Planning and Decision-Making
  • What is Cost Management?
  • Product Costing Systems: Concepts and Design
    Issues
  • Cost Behavior, Types and Hierarchy
  • Cost Accumulation for Job-Shop and Batch
    Production Operations
  • Variable versus Absorption Costing
  • Cost Estimation Techniques
  • Financial and Cost-Volume-Profit Models
  • Cost Management and Decision-Making:
  • o Make or Buy Decisions - Outsourcing
    o Add or Drop a Business, Product or Service
    o Special Order Pricing
    o Equipment Replacement
  • Management Issues in Making Investment
    Decisions
  • Budgeting and Financial Planning

  • Activity-Based Management Evaluating and Managing Performance
  • Activity-Based Costing Systems - ABC
  • Analyzing Value-Added versus Non-Value-
    Added Activities
  • Activity-Based Management - ABM
  • Managing Customer Profitability
  • Managing Quality and Time to Create Value
  • Standard Costing and Variance Analysis
  • Kaizen Costing and Target Costing
  • Flexible Budget and Activity-Based Budgeting
  • Overhead Cost Management
  • Transfer Pricing
  • Strategy, Balanced Scorecards, and Incentive
    Systems
  • Process Costing and Cost Allocation
  • Process-Costing Systems
  • Joint-Process Costing
  • Managing and Allocating Support-Service
    Costs
  • Pre-requisites

    None:
    Duration : 4 days

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