Financial Methodologies to Cost & Expense Rationalization

3/10

Code Date Venue Fees Registration
3/10 11 - 22 Feb Kuala Lumpur 3950 USD Register Now
3/10 18 - 22 Mar Sharm El Sheikh 2950 USD Register Now

Course Objectives

  • Acquaint participants with the modern changes which affect cost accounting and these changes reflects on cost accounting system, its contents, goals through cost reduction and expenditures rationalization at all organizations whether it is commercial, industrial or governmental
  • Let participants acquire the costs measurement skills according to the modern used methods in measuring production and services cost
  • Provide participants with convenient costs-saving importance for decision-making, and presentation of the variable areas, which are in need to develop the cost accountant performance like planning, control, and cost reduction and expenditure rationalization
  • Give participants the required skills of expenditures rationalization, cost reduction and measure some of the cost elements according to the requirements of the internal accounting standards, with perception for some of the tackled identified cost elements problems according to the internal standards  

Course Modules

Module 1: Modern Variables and Functioning Dimension of Cost Accounting

  • Cost accounting system nature
  • Characteristics and objectives of cost system
  • Costs measurements and indicators
  • Costs accounting methods and measuring procedures
  • Disclosure methods of costs information 

Module 2: Variable Reflected on Cost Accounting Function and Expenditures Rationalization

  • Developing cost system framework
    • Cost framework and its contents
    • Cost loading theory
    • Cost calculation methods
    • Measurements methods and procedures
    • Cost reduction areas of and expenditures rationalizations
  • The modern accounting methods to measure production costs
    • Accounting of activity
    • Accounting of product life cycle
    • Accounting of achievement
    • Accounting of targeted costs
  • Case study 

Module 3: Cost Accounting Performance Development Fields

  • Fields of developing cost accounting performance
    • Activities analysis
    • Cost analysis
    • Cost planning
    • Cost control
    • Cost reduction
  • Costs reports development
    • Requirements for developing cost reports
    • Modernized aspects of cost reports
    • Quality cost report
    • Damaged production cost reports
    • Follow-up reports of equipment and machinery operation
    • Cases and practical models of cost reports preparation process 

Module 4: Cost Decisions Activation for Expenditures Rationalization and Costs Reduction

  • The convenient cost concepts for analysis and decision making
    • Cost analysis methods
    • Study the cost behavior and its reflections
    • Convenient costs for decision making
    • Use differential cost analysis for decision-making
    • Use similar cost analysis in decision-making
  • The purchasing cost reduction decisions
    • Fighting of extravagance decisions.
    • Preventive maintenance decisions
    • Compensation restructuring and incentives decisions
    • Cost excellence decisions
    • Product redesigning decisions
    • Differentiation decisions between modern technologies alternatives

Module 5: Develop Cost Accountant Performance for Expenditures Rationalization

  • Measuring cost according to the international accounting standards
    • Inventory costs (standards 2)
    • Fixed assets acquisition costs (standard 16)
    • Loan cost (standard 23)
    • Case study 
  • Cost measurement problems according to the international accounting standards
    • Depreciation of the fixed assets (16)
    • Costs of maintenance and fixing
    • The financing lease (17)
    • Purchasing and stoking (2)
    • Case study

Target Audience

Directors, managers, and executives of financial services and accountants in cost departments


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