Setting the Strategic Foundation: The Importance of Analyzing and Managing Costs

• Definition of Cost Management
• Dimensions of Cost Management
• Product Costing Systems: Concepts and Design Issues
• Cost Behavior, Types and Hierarchy
• Cost Accumulation for Job-Shop and Batch Production Operations
• Variable versus Absorption Costing

Activity-Based Management

• Activity-Based Costing Systems (ABC)
• Analyzing Value-Added versus Non-Value-Added Activities
• Activity-Based Management (ABM)
• Managing Customer Profitability
• Managing Quality and Time to Create Value

Cost Allocation Management

• Managing and Allocating Support-Service Costs
• Selecting a Cost Allocation Base
• Methods of Allocating Support Costs
• Approaches to Transfer Pricing

Planning and Decision-Making

• Cost Estimation Techniques
  • Identifying and Choosing a Cost Driver
  • Simple and Multiple Regression Analysis
  • High-Low Method
  • Applications in Microsoft Excel
• Cost Management and Decision-Making:
  • Make or Buy Decisions - Outsourcing
  • Add or Drop a Business, Product or Service
  • Special Order Pricing
  • Equipment Replacement
• Management Issues in Making Investment Decisions
• Budgeting and Financial Planning

Evaluating and Managing Performance

• Cost-Volume-Profit Analysis
• Breakeven Point for Multiple Products
• Operating Leverage and Margin of Safety
• Managing Scarce Resources
• Kaizen Costing and Target Costing
• Flexible Budget and Activity-Based Budgeting
• Overhead Cost Management
• Strategy, Balanced Scorecards and Performance Measurement