Costing Best Practices


Overview
This course will provide an overview of the best tools to precisely assess the cost of your products/services, develop a strategic plan, better understand the effect your operations have on costs and products/services, and implement solutions to manage, control and optimize costs. 

Objectives
Upon completion of this course, participants will be able to:

  • Reconcile budgets with production costs
  • Understand and manage cost fluctuations
  • Improve fixed cost allocation & Costing for a better understanding of operational data
Emphasis
  • Cost accounting systems for determining the most profitable products/services
  • Reconciling budgets with production/services costs
  • Why profits often do not correspond to projections
  • How to improve fixed cost allocation
  • Costing for a better understanding of the operational data for products/services
  • Making benchmarking a part of cost analysis and evaluation
  • Tools for assessing if costs really in line with operations
  • Techniques for improving product/services variance analyses
  • Using effective dynamic budgets that keep up with changes in operations
  • Delivering product/services cost information to managers to better understand and manage cost fluctuations
  • Other best practices
  •  

Prerequisite
None

Preparation
No advance preparation required

Level of Knowledge
Update

CPE Credit
2 Hours

Delivery Method  
Group Internet Based

NASBA Field of Study
Accounting