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Cost Analysis & Control (II)

Learn key accounting skills to help managers make better decisions

  • Starts Sep 4
  • 895 Arubaanse gulden
  • EC&T Training Facility, Newtonstraat 1-A

Available spots

Service Description

Course Outline Cost management provides key data to managers for planning and controlling, as well as for costing products, services and customers. The central focus of the course is to comprehend how cost accounting helps managers make better decisions. In Cost Analysis & Control II, the emphasis is not just placed on the application of costing methods, but special attention is also given to other aspects of contemporary management accounting practices: 1) Management control (responsibility accounting): producing key information to manage business processes and 2) Accounting for decision-making: creating key information to support operational and strategic decision-making. Course Objectives By the end of the course, participants will be able to: * Explain the concepts relevant and irrelevant costs/revenues and apply them when performing analysis for decision-making. * Address key approaches to determine (sales) prices and how they relate to pricing decisions. * Identify generic strategies that are adopted by companies and how strategic decisions impact a company’s operations. * Explain how the Balanced Scorecard (BSC) can be used to better communicate a company’s strategy to organization members. * Distinguish the different approaches to determine cost allocation rates and the three methods to allocate interdepartmental costs. * Explain the different approaches to allocate joint and separable costs to final products. * Discuss how to develop management control systems to support planning and control activities in an organization. * Explain the term ‘transfer pricing’ and distinguish the three generic methods to determine transfer prices between sub-units. Target Audience Financial managers or directors, accountants, financial and administrative assistants, budget accountants and analysts. Key Topics The key topics covered in the course are: * Relevant costs and relevant revenues * Make or buy decisions * Business strategy * Balance Scorecard * Profitability analysis * Pricing decisions * Pricing methods * Interdepartmental cost allocation * Joint cost allocation * Accounting for byproducts * Process costing using Weighted Average and FIFO methods * Measuring the cost of quality * Measuring the cost of time * Designing management control systems * Transfer pricing * Tax implications in transfer pricing decisions Examination * Final exam

Upcoming Sessions

Contact Details


Erasmus Consulting & Training, Newtonstraat, Oranjestad, Aruba

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