Corporate

Cost Analysis for Decision-Making

Corporate

35 hours

Introduction

The course «Cost Analysis for Decision-Making»aims to equip you with the skills and knowledge you need to" assess y understand the costs associated with various business decisions. During the course, you will learn how to break down and analyse costs within an organisation, identify opportunities for savings and efficiency, and use this information to make decisions strategic well-founded. This training provides an essential foundation for those wishing to take on roles such as leadership in finance, operational management or strategic planning, as it enables informed decisions to be made that can influence a company’s profitability and success.

Objectives

To gain a sound understanding of the key concepts relating to costs and his ranking in a business context.
Learning how to use different cost systems y techniques to measure, track and analyse costs within an organisation.
Develop the ability to make decisions informed and strategic decisions based on cost data, including the assessment of costs by process and by order.
Use the cost information to identify areas for improvement in business processes and reduce operating costs.
Learn how to create and use budgets as a tool from financial control, as well as analysing and taking corrective action in response to budget variances.
To acquire the ability to to assess financial performance y operational of a company and use this information to inform strategic decision-making.

TEACHING UNIT 1. COSTS: CONCEPTS AND DEFINITIONS.

Introduction: An Overview of Costs.
Classification of Costs.
Different Costing Systems.

TEACHING UNIT 2. COST CENTRES: COST ACCUMULATION SYSTEMS.

Objectives and Structure of a Costing System.
Establishment and Design of a Costing System.

TEACHING UNIT 3. COSTS PER ORDER.

Costing per Order.
Examples of Costs per Order.

TEACHING UNIT 4. PROCESS COSTS.

Process-based Costing.
Examples of process-based costing.

TEACHING UNIT 5. RELATIONSHIPS BETWEEN COSTS, BENEFITS AND VOLUME OF ACTIVITY.

Contribution Margin and Break-even Point.
Examples of Contribution Margin.

TEACHING UNIT 6. COSTS IN DECISION-MAKING.

Decisions based on production capacity.
Examples of Decisions Based on Production Volume.

TEACHING UNIT 7. BUDGETS AND VARIANCES.

Standard Costs and Variances.
Calculation and Analysis of Deviations.

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