Cost Analysis & Performance Measurement
Cost Analysis & Performance Measurement
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
WHO SHOULD ATTEND?
- Professionals with direct financial responsibilities and those who would benefit from news ideas and methods
- Employees from every business discipline and department who have to run departments and plan and who are responsible for cost and strategic analysis
- Middle to senior personnel from all sectors of industry and employees on fast-track development programmes, along with other employees working in a project management environment
COURSE OUTLINE
DAY 1 – 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
DAY 2 – From Cost Accounting to Management Control
- Day 1 recap & key learning points
- Decentralized organizations
- Cost/Profit/Investment centers
- Transfer-pricing issues
- Linkages with performance evaluation
- Problems and Examples
- Case study illustration
DAY 3 – Performance Measurement
- Day 2 recap & key learning points
- Measuring performance
- Quantitative vs. Qualitative indicators
- Return On Investment
- Economic Value Added
- Problems and Examples
- Case study illustration
DAY 4 – Linking Strategy to action
- The Balanced Scorecard
- Day 3 recap & key learning points
- 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)
DAY 5 – The transformative power of the Balanced Scorecard
- Day 4 recap & key learning points
- 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
- Case Studies illustration