Strategic Cost Management

Course details

Functional/departmental heads involved in strategy formulation and implementation in various functional areas of operations, production, quality control, marketing, HR, accounting, costing, corporate finance, etc.

Objectives

The importance of managing costs and aligning them with the business strategy of an entity can be ignored by the managers at their peril, especially in the midst of challenging economic times faced by businesses today. Recognizing that different cost concepts, systems and strategies need to be used for different managerial decisions, this programme aims to:

• To understand the role of various costing systems in different strategic decision situations
• To provide the details of contemporary issues in costing systems such as ABC, target costing, life cycle costing, etc.
• To provide comprehensive view on budgeting, budgeting games, variance analysis and management control.

Content

• Relevant costs, different costs for different decision-making situations
• Activity based costing and management including target costing
• Budgeting
• Strategic Variance analysis
• Capacity planning, Capacity utilization and performance measurement
• Customer profitability analysis
• Costing and transfer pricing issues
• Role of costing in managing organisational performance