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Cost Optimization: A Strategic Emphasis

  /    /  Cost Optimization: A Strategic Emphasis

A Strategic Emphasis is dedicated to answering the question: Why Cost Management? The course provides the cost-management tools and techniques needed to support an organization’s competitiveness, improve its performance, and help the organization accomplish its strategy. The course is developed to help delegates understand the broader role of cost management in helping an organization succeed – and not just the measurement of costs. While the course does include coverage of traditional costing topics (e.g., job-order costing, process costing, service-department cost allocations, and accounting for joint and by-products), its primary strength is the linkage of these topics, as well as more contemporary topics, to an organization’s strategy.

At the end of the course delegates will be able to:

  • Demonstrate how measuring and using cost for management decisions can take place
  • Measure and assign cost for internal and external reporting
  • Understand the process of planning, monitoring and motivating staff and organizations
  • Understand and calculate various cost allocation procedures
  • Understand strategic management decision-making

Introduction to Strategy and Cost Management

  • Cost Management and Strategy
  • Implementing Strategy: The Value Chain, the Balanced Scorecard, and the Strategy Map
  • Basic Cost Management Concepts

Cost Systems

  • Job Costing
  • Activity-Based Costing and Customer Profitability Analysis
  • Process Costing
  • Cost Allocation: Faculties, Joint Products, and By-Products

Planning and Decision Making

Operational-Level Control

Management-Level Control

  • Strategic Performance Measurement: Cost Centers, Profit Centers, and the Balanced Scorecard
  • Strategic Performance Measurement: Investment Centers
  • Management Compensation, Business Analysis, and Business Valuation
Course Overview

A Strategic Emphasis is dedicated to answering the question: Why Cost Management? The course provides the cost-management tools and techniques needed to support an organization’s competitiveness, improve its performance, and help the organization accomplish its strategy. The course is developed to help delegates understand the broader role of cost management in helping an organization succeed – and not just the measurement of costs. While the course does include coverage of traditional costing topics (e.g., job-order costing, process costing, service-department cost allocations, and accounting for joint and by-products), its primary strength is the linkage of these topics, as well as more contemporary topics, to an organization’s strategy.

Course Objective

At the end of the course delegates will be able to:

  • Demonstrate how measuring and using cost for management decisions can take place
  • Measure and assign cost for internal and external reporting
  • Understand the process of planning, monitoring and motivating staff and organizations
  • Understand and calculate various cost allocation procedures
  • Understand strategic management decision-making
Course Outline

Introduction to Strategy and Cost Management

  • Cost Management and Strategy
  • Implementing Strategy: The Value Chain, the Balanced Scorecard, and the Strategy Map
  • Basic Cost Management Concepts

Cost Systems

  • Job Costing
  • Activity-Based Costing and Customer Profitability Analysis
  • Process Costing
  • Cost Allocation: Faculties, Joint Products, and By-Products

Planning and Decision Making

Operational-Level Control

Management-Level Control

  • Strategic Performance Measurement: Cost Centers, Profit Centers, and the Balanced Scorecard
  • Strategic Performance Measurement: Investment Centers
  • Management Compensation, Business Analysis, and Business Valuation

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