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Advanced Cost Accounting: Using Product Cost Information As A Strategic Tool Webinar  

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Cost professionals with more than two years of hands-on experience and need to take their expertise to the next level

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Seminar Summary:

This program cuts to the chase. It introduces an entirely new focus on the typical cost accounting approach. We aimed this program at serious cost professionals who are past the simple labor, material, and overhead variances, and are facing the challenge of identifying and reporting the true cause / effect relationship of the strategic and tactical activities of the company and their impact on the factory floor. (see full course description)

 

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Training Course Syllabus:


Advanced Cost Accounting: Using Product Cost Information As A Strategic Tool Webinar

Objectives of the Presentation

You will learn how to ensure that product costs reflect the true cost of production, determine transfer pricing, ling target costing with product development, allocate conversion costs on how they are really driven, and identify the hidden profit potential in your current conversion processes.

This program will address tough issues such as:
Using Variance Analysis as a Profit Enhancement Tool
Converting Cost Accounting into a Strategic Process
Managing Transfer Pricing Issues
Strategic Manufacturing Standards Development
Linking Target Costing with New Product Development
Measuring Customer Profitability
How to integrate ABC/M concepts into a GAAP-based cost management system
Applying the Elements of the Cost Management Process into the Sales and Marketing management process

Why Should you Attend

You will take a step-by-step walk through typical cost accounting procedures. You will solve realistic cost-process problems that can be immediately applied to your unique environment, comparing job-costing and process-costing procedures, determining how to apply direct costing techniques and developing a master plan that coordinates accounting and budgeting.

Areas Covered

The International Business Environment
Activity-Based Costing as an Effective Cost Accounting Tool
Developing Standards as a Tool for Inventory Valuation and Strategic Decision Support
Variance Analysis as a Process Improvement Tool: Analyzing the True Causes of
Product Cost Variances
The Overhead Distribution Challenge: How to Assign Joint and Common Costs
Assigning Service Department Costs to Determine Total Product Cost

Topic Background

Today's New Business Environment - This section provides an overview of the strategic, tactical, and operational aspects of today's global business entity. During this session, participants develop their specific learning objectives for the program, and gain an understanding of the benefits and limitations of cost analysis. You will also gain an overview of the responsibility accounting environment, and how the need for cost information has grown far beyond the traditional inventory costing focus. Activity-Based Costing as an Effective Cost Accounting Tool There are many issues which prevent using ABC as the primary cost methodology in many companies. However, there are a number of ABC concepts which you can integrate into many of today's cost accounting software which can enhance the output of cost information to be used for internal decision-support purposes. In this section, you will learn how to use the concepts of ABC to move cost information from the tactical stage to the strategic level. Developing Standards as a Tool for Inventory Valuation and Strategic Decision Support The development of product standards has risen to an entirely new strategic level in many of today's profit-based organizations.

Who will Benefit

Cost professionals with more than two years of hands-on experience and need to take their expertise to the next level. Also, internal and external auditors, CEO's, CFO's, Cost Managers, Marketing Professionals who have a fundamental product cost background, brand managers, plant management personnel, and anyone who needs to use product cost information to support strategic decisions.

Seminar Summary:

This program cuts to the chase. It introduces an entirely new focus on the typical cost accounting approach. We aimed this program at serious cost professionals who are past the simple labor, material, and overhead variances, and are facing the challenge of identifying and reporting the true cause / effect relationship of the strategic and tactical activities of the company and their impact on the factory floor. (see full course description)

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