Advanced Cost Management for Business Competitiveness

HRODC Postgraduate Training Institute
In Central London (England)

£ 4,000 - (Rs 3,46,686)
+ VAT

Important information

  • Training
  • Advanced
  • Central london (England)
  • 30 hours of class
  • Duration:
    5 Days
  • When:
    Flexible
Description

Limited Objectives: By the conclusion of the specified learning and development activities, delegates will be able to: Explain the accountant's role in the organisation. Define important cost terms and give their corresponding purpose. Determine the use of cost management information and its benefits. Ascertain the strategy on how to create a cost-aware organisation. Be knowledgeable of some key cost concepts. Differentiate product cost from period costs. Differentiate direct cost from indirect costs.
Suitable for: This course is designed for: Managers with direct financial responsibilities, Cost and management accountant, Financial planners and cost analysts, Senior managers who supervise people with financial responsibilities, Financial and budget controllers who are moving to wider responsibilities, etc.

Important information

Requirements: Degree or Work Experience

Venues

Where and when

Starts Location
Flexible
Flexible
Central London
Carburton Street, W1W 5EE, London, England
See map

What you'll learn on the course

Management
IT
Financial
Financial Training
IT Management
Cost Management
Pricing Decisions
Transfer Pricing
Costing System
Activity-Based Costing (ABC)
Activity-Based Management
Job-Costing Systems
Variance Analysis
Process Costing Systems
Cost Allocation
Zero Based Budgeting
Activity Based Budgeting
Cost Planning
Life Cycle Product Budgeting and Costing
Rolling Budget
Fixed and Flexed Budget
Cost Behaviour
Cost Management Information
Target Costing
Target Pricing

Course programme

Course Contents, Concepts and Issues:

Management and Cost Management Fundamentals: A Review of Key Cost Concepts

  • The Accountant’s Role in the Organization
  • An Introduction to Cost Terms and Purposes
  • The Use of Cost Management Information
  • Creating Cost-Aware Organizations
  • Review of Some Key Cost Concepts
  • Product vs. Period Costs
  • Direct and Indirect Costs
  • Cost Behaviour: Fixed and Variable Costs
  • Problems and Examples

Different Approaches to Costing: Part 1

  • 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 and 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

Different Approaches to Costing: Part 2

  • Job-Costing Systems
  • Process Costing Systems
  • Cost Allocation
  • Cost Allocation: Joint-Cost Situation
  • Transfer Pricing
  • Problems, Case Study and Exercises

Additional information

HRODC Postgraduate Training Institute is registered with the UK Registry of Learning Providers (UKRLP) of the Department for Business, Innovation and Skills (BIS), formerly Department of Innovation, Universities and Skills (DIUS). Its registration number is 10019585 and can be verified at http://www.ukrlp.co.uk/