Advanced Cost Management for Business Competitiveness, PG Course: Dubai KL London Abuja Accra Colombo Wolv Nairobi New Delhi, Online

Advanced Cost Management for Business Competitiveness Course, Leading to Diploma - Postgraduate - in Advanced Cost Management, 30 Credit-Hours, accumulating to a Postgraduate Certificate, with 150 additional Credit-Hours, and a Postgraduate Diploma, with 330 additional Credit-Hours. Course Contents include Information for informed management decisions, Management use of management accounting information, A new role for the management accountant, Cost management and Strategy, Basic Cost and Cost Analysis, Cost Behaviour and Cost Estimation, Different Approaches to Costing (Standard Costing, Activity-Based Costing, Product costing in multinational firms, Cost Planning and Budgeting, Decision Making with Relevance Costs and a Strategic Emphasis, key cost concepts, The accountant’s roe in the organization, An introduction to cost terms and purposes, The use of cost management information, Creating cost-aware organizations, Review of some key cost concepts, Product vs. Period costs, Direct and Indirect Costs, Cost behaviour, Fixed and Variable Costs, Problems and Examples, Different Approaches to Costing, Absorption (Full) vs. Variable costing, Under-costing and over-costing: the consequences for profitability, How to refine a costing system?, Activity-based costing (ABC) and cost-management, Cost hierarchy & Cost drivers, Linking resources, activities and management, Introducing Activity-based management (ABM), Linkages between ABM and ABC – monitoring value creation, Problems, Case Study and Examples, Different Approaches to Costing: Part 2, Job-costing systems, Process costing systems, Cost allocation, Cost allocation: joint-cost situation, Transfer pricing, Problems, Case Study and Exercises.

Advanced Cost Management for Business Competitiveness Course, Leading to Diploma - Postgraduate - in Advanced Cost Management, Click to download the PDF Brochure for this Course

Course Co-ordinator:

Prof. Dr. R. B. Crawford is Course Coordinator. He is the Director of HRODC Postgraduate Training Institute, A Postgraduate-Only Institution. He has the following Qualifications and Affiliations:

Doctor of Philosophy {(PhD) {University College London (UCL) - University of London)};

MEd Management (University of Bath);

Postgraduate (Advanced) Diploma Science Teacher Ed. (University of Bristol);

Postgraduate Certificate in Information Systems (University of West London, formerly Thames Valley University);

Diploma in Doctoral Research Supervision, (University of Wolverhampton);

Teaching Certificate;

Fellow of the Institute of Management Specialists;

Human Resources Specialist, of the Institute of Management Specialists;

Member of the Asian Academy of Management (MAAM);

Member of the International Society of Gesture Studies (MISGS);

Member of the Standing Council for Organisational Symbolism (MSCOS);

Member of ResearchGate;

Executive Member of Academy of Management (AOM). There, his contribution incorporates the judging of competitions, review of journal articles, and guiding the development of conference papers. He also contributes to the Disciplines of:

Human Resources;

Organization and Management Theory;

Organization Development and Change;

Research Methods;

Conflict Management;

Organizational Behavior;

Management Consulting;

Gender & Diversity in Organizations; and

Critical Management Studies.

Professor Dr. Crawford has been an Academic in the following UK Universities:

University of London (Royal Holloway), as Research Tutor;

University of Greenwich (Business School), as Senior Lecturer (Associate Professor), in Organisational Behaviour and Human Resource Management;

University of Wolverhampton, (Wolverhampton Business School), as Senior Lecturer (Associate Professor), in Organisational Behaviour and Human Resource Management;

London Southbank University (Business School), as Lecturer and Unit Leader.

His responsibilities in these roles included:

Doctoral Research Supervisor;

Admissions Tutor;

Postgraduate and Undergraduate Dissertation Supervisor;

Programme Leader;

Personal Tutor.

 

 

Duration: 5 Days

 

Daily Schedule: 09:30 – 16:30

 

Cost: £5,000.00  Per Delegate

 The course cost does not include living accommodation. However, delegates are treated with the following:

  • Free Continuous snacks throughout the Event Days;  

  • Free Hot Lunch on Event Days;                           

  • Free City Tour;             

  • Free Stationery;                               

  • Free On-site Internet Access;

  • HRODC Postgraduate Training Institute’s   Diploma – Postgraduate; or

  • Certificate of Attendance and Participation – if unsuccessful on resit.

 HRODC Postgraduate Training Institute’s Complimentary Products include:

 

 HRODC Postgraduate Training Institute’s Leather Conference Folder;

 HRODC Postgraduate Training Institute’s Leather Conference Ring Binder/ Writing Pad;

 HRODC Postgraduate Training Institute’s Key Ring/ Chain;

 HRODC Postgraduate Training Institute’s Leather Conference (Computer – Phone) BagBlack or Brown;

 HRODC Postgraduate Training Institute’s 8GB USB Flash Memory Drive, with Course Material;

 HRODC Postgraduate Training Institute’s Metal Pen;

 HRODC Postgraduate Training Institute’s Polo Shirt.

 

Having the best information is the key to success. In today’s business environment, the development and use of information especially cost management information – is a critical factor in the effective management of a firm or organization. As the business environment has changed, the role of cost management information has expanded to serve all management function.

 

The study of management and cost accounting yields insights into the changing roles and relationship between managerial activities and accounting intelligence. What types of decisions do managers make? How can accounting and management accounting information help managers make these decisions? This seminar addresses these questions and look at some fundamental and also advanced management accounting techniques used in modern enterprises. The aim is to equip business managers and management accounting with necessary tools and knowledge to progress in the new competitive environment.

 

For Whom This Course is Designed?

Non-Financial managers from all functions of an enterprise will benefit from this intensive course, which teaches the key financial issues covered in international Programmes. Financial managers wanting an update or ‘refresher’ of their knowledge will also benefit from attending. It is beneficial specifically to:

 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.

 

Course Objectives

Participants gain the insights they need to win in the global marketplace. Key subjects that the seminar addresses include:

 Information for informed management decisions

 Management use of management accounting information

 A new role for the management accountant

 Cost management and Strategy

 Basic Cost and Cost Analysis

 Cost Behaviour and Cost Estimation

 Different Approaches to Costing (Standard Costing, Activity-Based Costing, …)

 Product costing in multinational firms

 Cost Planning and Budgeting

 Decision Making with Relevance Costs and a Strategic Emphasis

 

Course Delivery Method!

Using a combination of lectures and group exercises, the delegates will gain both a theoretical and practical knowledge of the topics covered. The emphasis is on the practical application of the topics and as a result delegates will return to the workplace with both the ability and the confidence to apply the techniques learned.

 

Part 1 – Management and Cost management Fundamentals: a review of key cost concepts

 The accountant’s roe in the organization

 An introduction to cost terms and purposes

 The use of cost management information

 Creating cost-aware organizations

 Review of some key cost concepts

 Product vs. Period costs

 Direct and Indirect Costs

 Cost behaviour: Fixed and Variable Costs

 Problems and Examples

 

Part 2 – Different Approaches to Costing: (1)

 Absorption (Full) vs. Variable costing

 Under-costing and over-costing: the consequences for profitability

 How to refine a costing system?

 Activity-based costing (ABC) and cost-management

 Cost hierarchy & Cost drivers

 Linking resources, activities and management

 Introducing Activity-based management (ABM)

 Linkages between ABM and ABC – monitoring value creation

 Problems, Case Study and Examples

 

Part 3: Different Approaches to Costing: (2)

 Job-costing systems

 Process costing systems

 Cost allocation

 Cost allocation: joint-cost situation

 Transfer pricing

 Problems, Case Study and Exercises

 

Part 4 – Different Approached to Budgeting

 Fixed and flexed budget (static and flexible budget)

 Rolling budget

 Zero based budgeting

 Activity based budgeting

 Master budget

 From costing to budget: interpreting variances (variance analysis)

 Integrate continuous improvement into variance analysis.

 Problems, Case Study and Exercises

 

Part 5 – Cost Planning and Pricing Decisions: Life-Cycle-Costing, Target costing and Target Pricing

 Linking process development to costing

 Target costing, target pricing and its implications

 The three major influences on pricing decisions

 Distinguish between cost incurrence and locked-in costs

 Cost plus approach to pricing

 Life cycle product budgeting and costing to assist in pricing decision

 Problems, Case study and Examples

 

Advanced Cost Management for Business Competitiveness Course, Leading to Diploma - Postgraduate - in Advanced Cost Management, Click to download the PDF Brochure for this Course