For whom?
· Officers and above from the manufacturing domain.
· Finance and accounting professionals.
· Decision makers.
Key Takeaways.
1. Cost and its relationship with changing environment and increased completion.
2. Cutoff rate of your company.
3. Mechanics of cost control and its limitations.
4. Role of Cost in decision making.
5. Combining value chain with traditional and modern costing for strategic purposes.
6. Transfer pricing
Duration
Two days
Course content of takeaways
1. Evolution of cost and management accounting.
2. Cost of capital.
3. Standard costing.
4. Marginal costing.
5. Value chain analysis, standard cost , target cost.
6. Domestic and multinational transfer prices.
Session wise plan
Session 1 - Introduction to Cost and Management Accounting
· Cost accounting and its relation to financial and management accounting.
· Evolution of cost accounting in changing business environment.
Session 2 – Mechanics and Cost Control
· The mechanics of cost accounting
· Cost control through Standard Costing and Variance Analysis.
Session 3 – Contentious issues
· Contentious issues in traditional cost management
· Limitations of traditional costing- behavioral aspects.
Session 4 – Allocation of costs
· Allocation, Apportionment and Absorption
· Strategic Allocation
Session 5 – Decision making
· CVP analysis and marginal costing.
· Joint costs
· Operating leverage
Session 6 – Cost reduction
· Value chain analysis.
· Target Costing
Session 7 – Transfer pricing
· Domestic transfers.
· Multinational transfers
Session 8 – Recap