Introduction

Cost control is one of the most effective and essential tool for planning and monitoring organizational activities, as well as supporting future strategic decision.

Cost analysis is linked with strategy formulation, the budgetary process and performance management. It is crucial to interpret how costs behave so that realistic budgets and plans can be produced, and appropriate financial and non-financial resources can be made available to the business.

This training course explores the traditional tools of cost analysis and control as well as new advanced approaches, which reflect and respond to the current complex business environment. In particular, you will learn:

• the cause-and-effect relationship among business strategy, operational objectives, measures and targets, and systems of performance measurement and reporting
• traditional techniques of cost analysis and control compared to modern thought
• advanced costing and management techniques (ABC, ABB, ABM, target costing)
• overhead cost allocation and reduction
• the balanced scorecard construction and implementation

Course Objectives:

• To identify the key ingredients in producing a successful financial business case
• To give you the budgeting/financial skills required for better decision-making, whether for your continuing business or project or a new business venture
• To explain typical costing and budgeting terminology used in business
• How to construct profit, cash and balance sheet plans/budgets.
• Evaluate variances from plan and identify corrective actions
• Understand discounted cash flow (DCF) techniques and their application to financial decision-making including risky scenarios
• Identify sources of financial and business data that provide insights into business and financial strategies when converted to budgets
• Use and build EXCEL spreadsheets for financial analysis: from the basics through complex models with Monte Carlo simulation
• Enhance personal networks of similarly minded high potential managers

Training Methodology :

Facilitated by experienced instructor, this course will be conducted as a highly interactive work session, encouraging participants to share their own experiences and apply the programme material to real-life situations. Case studies from different industries will be investigated. Each delegate will receive an extensive reference manual, as well as case studies, while worked out solutions will be handed out to the delegates on conclusion of group discussions.

To ensure the concepts introduced during the course are understood, they will be reinforced through a mix of learning methods, including lecture style presentation, open discussion, case studies, simulations and group work.

This interactive training course includes the following training methodologies as a percentage of the total tuition hours:

• 30% Lectures, Concepts, Role Play
• 30% Workshops & Work Presentations, Techniques
• 20% Based on Case Studies & Practical Exercises
• 20% Videos, Software & General Discussions
• Pre and Post Test

Designed For :

• Staff who need to know more about business budgeting and costing terms and techniques to improve their communication with accounting colleagues
• Anyone from non-financial disciplines that needs to know how to financially evaluate proposed business expenditure decisions
• Managers who need to improve their skills in constructing and controlling their budget
• Supervisors from every business discipline and department who have to manage departments and plan, cost, and budget during their business careers
• Executives who need to evaluate plans for approval and variance reports for corrective action

PROGRAMME SUMMARY

This Cost Analysis to Support Strategic Decisions training course intends to support all organizations improving the bottom line. Adding value and making more sound operational & financial decisions.

Cost analysis is critical for making informed strategic decisions in the business.

No matter what background you come from, this course will make costing, budgeting and performance measurement easily understood for every discipline across the organization.

Training Methodology:
This interactive training course includes the following training methodologies as a percentage of the total
tuition hours:-
• 30% Lectures, Concepts, Role Play
• 30% Workshops & Work Presentations, Techniques
• 20% Based on Case Studies & Practical Exercises
• 20% Videos, Software & General Discussions

Certificates

A Certificate of Completion will be issued to those who attend & successfully complete the programme.

Schedule

  08:30 – 10:15 First Session

 10:15 – 10:30 Coffee Break

10:30 – 12:15 Second Session

 12:15 – 12:30 Coffee Break

12:30 – 14:00 Third Session

 14:00 – 15:00 Lunch

Fees

 The Fee for the seminar, including instruction materials, documentation, lunch, coffee/tea breaks & snack is: