Cost Analysis to Support Strategic Decisions Training in Paris , France
Course Code : FBA125 - Course Address : Hotel Alfred Sommier-20 Rue de l'Arcade, 75008 Paris - Course Fees : 6100 GBP
|City||Start Date||End Date||View|
|Paris , France||3 - 12 - 2023||7 - 12 - 2023||
|Paris , France||7 - 1 - 2024||11 - 1 - 2024||
|Paris , France||4 - 2 - 2024||8 - 2 - 2024||
|Paris , France||24 - 3 - 2024||28 - 3 - 2024||
|Paris , France||21 - 4 - 2024||25 - 4 - 2024||
Cost control is one of the most widely used tool for planning and monitoring organizational activities, as well as to support future strategic decision. Importantly, cost analysis is inextricably linked with strategy formulation, the budgetary process and performance management. It is crucial to interpret how costs behave so that realistic budgets and plans can be produced, and appropriate financial and non-financial resources can be made available to the business. This programme will allow you to explore the traditional tools of cost analysis and control as well as new advanced approaches, which reflect and respond to the current complex business environment. In particular, you will learn:
- the cause-and-effect relationship among business strategy, operational objectives, measures and targets, and systems of performance measurement and reporting
- traditional techniques of cost analysis and control
- advanced costing and management techniques (ABC, ABB, ABM, target costing)
- overhead cost allocation and reduction
- the balanced scorecard construction and implementation
- Enhance cost awareness and its relationship with strategy
- 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
- Deliver more timely and useful information to decision makers
- Identify and manage key financial and non-financial indicators for the business
Introducing the linkages between strategy and costing
- Managing contemporary organisation
- Strategic Plan, Budgeting, Costing and Management Control
- Management Accounting for organizational control systems
- Responsibility accounting and the process-view
- The context for costing
- The Budget and its role for achieving organizational targets
- What is it the situation in your organisation?
Cost analysis and classifications
- Cost terms and classification
- Inventoriable vs. period costs
- Manufacturing vs non-manufacturing costs
- Variable vs. Fixed costs (CVP analysis)
- Direct vs. indirect cost
- Under-costing and Over-costing problems
- Problems and Examples – Case study illustration
From cost accounting to management control
- Cost allocation: traditional costing and activity-based costing (ABC)
- From traditional budgeting to Activity-based budgeting (ABB)
- Activity-based management
- Decentralized organizations
- Cost/Profit/Investment centers
- Transfer-pricing issues
- Problems and Examples – Case study illustration
Flexible budgets and variance analysis
- The features of budgetary control
- Define the master budget and explain its major benefits to an organization
- Describe the difference between a static budget and a flexible budget
- Compute flexible-budget variances and sales-volume variances
- Explain why standard costs are often used in variance analysis
- Integrate continuous improvement into variance analysis
- Case study, problems and exercises
Linking strategy to actions: Beyond costing
- Shortcomings of traditional approaches to measurement
- The Balanced Scorecard: linking Strategy to Performance Measurement
- Financial perspective, Customer perspective
- Internal Business Process perspective, Learning and growth perspective
- Developing and adapting scorecard
- Case study illustration
Where will the course be held?
The course will be held in Champs Elysees. The exact address and directions will be provided to all enrolled participants prior to the start of the course.
What topics will be covered in the course?
The course will cover a range of topics related to the subject matter, including but not limited to the topics of outlines. By the end of the course, you'll have a solid understanding of the key concepts and techniques in the field, and be able to apply them to real-world situations. Detailed course outlines and learning objectives will be provided to all enrolled students prior to the start of the course.
What is the schedule for the course?
The course is expected to run for 3 hours daily. The exact schedule and timing will be confirmed and communicated to all enrolled students via email at least 2 days prior to the course start date.
What do I need to bring to the course?
All you need to bring is yourself, a notepad or laptop for taking notes, and a willingness to learn! We'll provide pens, paper, and any required textbooks or handouts.
What is the instructor's background and experience?
Our instructors are seasoned industry professionals with over 10 years of experience in the field. They hold a master's degree in the subject matter and have a proven track record of success working with trainees of all levels. You'll have plenty of opportunities to ask questions and get feedback throughout the course.
What are the T&C for this course?
Please visit our Terms and Conditions page
What kind of certificate will I receive upon completion of the course?
Upon completion of the course, you will receive an attendance certificate indicating that you have completed the course. This certificate is not accredited or recognised by any particular institution or organisation, but it can be used to demonstrate your commitment to continuing education and professional development.