Start Date: 13 Jul, 2025
End Date : 17 Jul, 2025
Duration : 5 Days
Overall Description:
This course addresses key issues, such as cost analysis, continuous improvement of cost assignment, management control, and performance evaluation.
Course Objectives:
- Enhance cost awareness.
- 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.
- Enhance cost awareness.
- Enhance the ability to select the right costing measurement system.
- Enhance the ability to link cost to strategy to performance measurement.
Course Outline (Content):
Refining Cost Accounting Systems
- Review of key Cost Concepts.
- Under-costing and Over-costing problems.
- Cost drivers and Activity-based costing.
- Advantages/disadvantages of ABC.
- Activity-based management.
- Problems and Examples.
- Case study illustration.
Performance Measurement
- Measuring performance.
- Quantitative vs. Qualitative indicators.
- Return On Investment.
- Economic Value Added.
- Problems and Examples.
Linking Strategy to Action
- The Balanced Scorecard.
- Introducing the Balanced Scorecard.
- Linking Strategy to Performance Measurement and to Action.
- Financial perspective.
- Customer perspective.
- Internal Business Process perspective.
- Learning and growth perspective.
- Case study illustration (petroleum company).
From Cost Accounting to Management Control
- Decentralized organizations.
- Cost/Profit/Investment centers.
- Transfer-pricing issues.
- Linkages with performance evaluation.
- Problems and Examples.
- Case study illustration.
The Transformative Power of the Balanced Scorecard
- Shortcomings of traditional approaches to measurement.
- An integrated management model.
- The role of measurement.
- Using the Balanced Scorecard to drive culture change.
- Driving continuous improvement.
- Developing and adapting scorecard.
Who Should Attend?
- Professionals with direct financial responsibilities.
- Middle to senior managers from all sectors of industry, irrespective of functional responsibilities, but particularly those involved in manufacturing, production, engineering, or sales.
- Professionals working in a project management environment.
Course Methodology:
We utilize a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This training course will be conducted as a highly interactive workshop session. A variety of training methodologies will be used Before and during the course whenever applicable. Some of these methods are gamification, online pre-post test, role plays, self-assessment instruments, group exercises & case studies.
