Cost Analysis to Support Strategic Decisions

Introduction

Cost control is one of the most widely used tool for planning and monitoring organizational activities, as well as to support future strategic decision. Importantly, cost analysis is inextricably 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 Discovery Tools training course ” Cost Analysis to Support Strategic Decisions ” will allow you to explore 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
Advanced costing and management techniques (ABC, ABB, ABM, target costing)
Overhead cost allocation and reduction
The balanced scorecard construction and implementation

Course Objectives

By the end of this training course, participants will be able to:

Enhance cost awareness and its relationship with strategy
Describe specific cost analysis and performance measurement techniques
Select the costing measurement system that works
Select the systems of performance measurement that works
Discuss real case studies
From cost to strategy to performance measurement
Broadening the management accounting knowledge
Deliver more timely and useful information to decision makers
Identify and manage key financial and non-financial indicators for the business