This Cost Control and Management course is designed to cover all aspects of controlling costs within most corporate environments, including manufacturing and professional services, and using cost controls to make better business decisions. This will be covered from a performance analysis perspective as well as a products and services valuation perspective.
Anyone dealing with management of cost centres or profit centres, such as financial directors and controllers, directors and chief financial officers, divisional/branch managers and directors.
Exercise: The participants will be required to calculate the fixed costs based on different production volumes, identify the breakeven point and calculate the total costs of the projected production volume.
Exercise: The participants will be required to calculate standard cost rates and the total cost of production based on projected figures.
Exercise: The participants will be required to identify the relevant cost drivers for various activities, allocate costs accordingly and calculate the total cost of production. They will also be required to compare the cost per unit to the standard cost and comment on the reasons for any differences.
Exercise: The participants will be required to prepare a flexible budget based on the original budget, calculate the standard cost variances and prepare a report to explain the performance for the period.
Exercise: The participants will be required to review the strategic agenda of an enterprise and identify which KPIs would be most relevant to monitor the enterprise’s performance against its strategic objectives.
Exercise: The participants will be required to complete a number of exercises relating to short term business decisions, and justify their recommendations.
Exercise: The participants will be required to calculate the potential cost savings of adopting a number of quality programs and make a recommendation as to whether to go ahead with a specific program or not at all.
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