Introduction

The growing pressures of global competition, technological innovation, and change in business processes have made cost management much more critical and dynamic than ever before. Managers and management accountants must think competitively; doing so requires a strategy. Because strategic issues are increasing in importance to management, cost management has moved from a traditional role of product costing and operational control to a broader, strategic focus: strategic cost management.

Strategic Cost Management is the development of cost management information to facilitate the principal management function, strategic management. Cost management information is a broad concept and includes information that the manager needs to effectively manage the firm or not-for-profit organization and included both financial information about costs and revenues as well as relevance non-financial information about productivity, quality, and other key success factors for the firm.

Course Objective

• Cost management and Strategy
• Implementing Strategy
• Basic Cost and Cost Analysis
• Cost Bahaviour and Cost Estimation
• Different Approaches to Costing (Standard Costing, Activity-Based Costing, …)
• Cost Planning and Budgeting
• Strategic Performance Measurement
• Decision Making with Relevance Costs and a Strategic Emphasis

Training Methodology:

The Course will be highly participative and will include a wide range of methods including presentations, discussions, videos, case studies and exercises. Where appropriate, these will include real issues brought to the Course by delegates.

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:

The course which teaches the key financial issues covered in international MBA programmes. Financial managers wanting an update or ‘refresher’ of their knowledge will also benefit from attending.

In detail:

• 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
• Managers who need to know more about business planning, budgeting, costing terms and techniques.
• Managers who have to plan, cost and budget new business ventures.
• Managers and Supervisors from every business discipline and department who have to run departments and plan, cost and budget during their business lives.
• First appointment managers on fast-track development programmes
• Managers who require a refresher programme on the topic or who would benefit from having an opportunity to consider new ideas and methods

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: