17 - 21 Feb 2025
London (UK)
Hotel : Landmark Office Space - Oxford Street
Cost : 5250 € Euro
The Cost Account Management training program is designed to equip professionals with the knowledge and skills necessary to effectively manage costs within their organizations. Participants will learn essential principles, techniques, and best practices to optimize cost control and financial performance.
This program is suitable for:
Finance Professionals: Accountants, financial analysts, and professionals responsible for financial management.
Project Managers: Individuals responsible for budgeting and cost control within their projects.
Business Managers: Executives and managers who need to understand cost management to make informed decisions.
Small Business Owners: Entrepreneurs and small business owners looking to improve their financial management.
Upon completing this program, participants will be able to:
Understand the fundamentals of cost accounting and management.
Analyze and categorize different types of costs within an organization.
Develop effective cost control strategies to improve profitability.
Use budgeting and forecasting techniques to plan for future expenses.
Implement cost reduction initiatives and identify cost-saving opportunities.
Evaluate the financial performance of projects or business units.
Make informed decisions based on cost analysis.
Day 1:
Fundamentals of Cost Accounting
Introduction to Cost Accounting
Types of Costs (Fixed vs. Variable, Direct vs. Indirect)
Cost Accounting Principles and Terminology
Cost Drivers and Cost Centers
Case Studies and Exercises
Cost Allocation Methods
Day 2:
Cost Analysis and Control Techniques
Cost-Volume-Profit (CVP) Analysis
Break-Even Analysis
Cost-Volume-Profit (CVP) Exercises
Cost Control Strategies
Variance Analysis
Implementing Cost Control Measures
Day 3:
Budgeting and Forecasting
Introduction to Budgeting
Budget Types (Operating, Capital, Cash)
Creating a Budget
Forecasting Techniques
Rolling Forecasts
Budget vs. Actual Analysis
Day 4:
Cost Reduction and Optimization
Identifying Cost Reduction Opportunities
Cost Reduction Strategies
Lean Principles for Cost Optimization
Value Stream Mapping
Cost Reduction Simulation
Day 5:
Financial Performance Evaluation
Key Performance Indicators (KPIs)
Balanced Scorecard
Project and Business Unit Performance Analysis
Decision-Making Based on Cost Analysis