Finance and Accounting

Training Course: Cost Account Management


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FI235220

17 - 21 Feb 2025

London (UK)

Hotel : Landmark Office Space - Oxford Street

Cost : 5250 € Euro

Introduction:

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.

Target Audience:

This program is suitable for:

  1. Finance Professionals: Accountants, financial analysts, and professionals responsible for financial management.

  2. Project Managers: Individuals responsible for budgeting and cost control within their projects.

  3. Business Managers: Executives and managers who need to understand cost management to make informed decisions.

  4. Small Business Owners: Entrepreneurs and small business owners looking to improve their financial management.

Objectives:

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.

Outlines:

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

Finance and Accounting

Training Course: Cost Account Management


Register Now
Quick Inquiry
Discount Group Download Brochure (36)

FI235220

17 - 21 Feb 2025

London (UK) - Landmark Office Space - Oxford Street

Hotel : Landmark Office Space - Oxford Street

Cost: 5250 € Euro


  About London

The UK capital of London is a city that combines the old and the new. It is as equally famous for the latest fashion and innovation as it is for its impressive heritage. London's attractions range from the Royal Palace to the DIY atmosphere of its markets. It is also a picturesque city of parks and of course, the majestic Thames River. The city extends for miles beyond its ancient core and each neighborhood has its own charming atmosphere for visitors to explore. London also wears its status as a world city proudly and the influence of different cultures is plain to see in the food and fashion of the capital.


  Things to do and places to visit in London

With so many attractions in London, anyone can find something to delight them. Art lovers will enjoy the world-renowned museums and galleries, most of which are free. Sports fans are spoilt for choice by the city's array of football clubs. Theatre and music fans have a vast list of venues to visit, whilst shopaholics have Harrods, Oxford Street, Camden and much more to look forward to after arranging flights to London.

Some unmissable London attractions include:

  • Seeing priceless masterpieces in the Tate Britain or the National Gallery.
  • Watching the changing of the guard at Buckingham Palace.
  • Visiting Trafalgar Square's famous monument.
  • Marveling at the Crown Jewels in the Tower of London.
  • Getting a bird's eye view of the city from the London Eye.
  • Tasting one of Brick Lane's famous curries.
  • Browsing the exclusive shops of Knightsbridge.
  • Visiting a market – Spitalfields for antiques, Camden for clothes or Borough Market for street food.
  • Admiring design from around the world in the Victoria and Albert Museum.
  • Looking for clues at the home of fiction's most famous detective, Sherlock Holmes.
  • Strolling through one of the lovely parks, including Hyde Park, St James' Park or Kew Gardens.
  • Eating Britain's most famous dish, fish and chips.
  • Watching the street performers in Covent Garden.
  • Enjoying the views at a South Bank cafe.
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