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corporate training Strategic Cost Management

Programme Title 
 
Strategic Cost Management 
 
Programme Objectives
 
Competitive markets and increased flow of cross border capital has necessitated companies to reduce total costs while improving their strategic position. The modern day need is to be both cost effective and efficient to maintain a competitive advantage over others. Spending decisions need to be strategic and internal capabilities good enough to deliver value from such investments. Multiple costs for multiple purposes need to be the order of the day. Traditional cost accounting methods, though useful, have many a times acted against the interests of companies . The fall of the western industry in the 1970s and 80s , specially in the areas of telecommunication and automobiles is testimony to such limitations of the traditional tools. The programme ‘Strategic Cost Management’ intends to highlight such deficiencies and provide participants with required skills and understanding to make right decisions at the right time and place.
  
Contents of the Programme.
 
Session 1 
 
Introduction to Cost and Management Accounting.
 
Cost accounting and its relation to financial accounting.
Evolution of cost accounting in changing business environment.
 
Session 2
 
The mechanics of cost accounting
Cost control through Standard Costing and Variance Analysis..
 
Session 3
 
Contentious issues in traditional cost management
Limitations of traditional costing- behavioral aspects.
 
Session 4
 
Allocation, Apportionment and Absorbtion
Strategic Allocation
 
Session 5
 
CVP analysis and decision making.
Operating leverage .
 
Session 6
 
Decision making using Marginal Costing
 
Session 7
 
Cost Reduction through ‘Value Chain Analysis’ – Case study  on Target Costing, Standard Costing, Kaizen and ABC.
 
Session 8
 
Case Study-contd
Recap
 
 

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