Controlling Costs

    Target Audience

    The Controlling Costs course is designed for managers and staff of SMEs including:

    • Board of directors
    • Head of departments
    • Chief accountant, management and financial accountants
    • Supervisors and section heads
    Course Objectives

    At the end of this course, participants will be able to:

    • Identify different types of costs.
    • Define the role of controlling costs.
    • Analyze cost variance.
    • Use tools for controlling costs.
    • Create cost consciousness within an enterprise.
    Content

    Introduction to the workshop

    Session 1: Types of costs in an enterprise

    • Costs and expenses
    • Direct costs and indirect costs
    • Fixed costs and variable costs

    Session 2: The role of controlling costs

    • Identifying controllable and uncontrollable costs
    • Reducing controllable costs

    Session 3: Cost standards and cost variances

    • Setting up cost standards
    • Analysis of cost variances
    • Cost information and decisions

    Session 4: Controlling costs system

    • Cost centers
    • Three steps in controlling costs system: 1) Collecting costs,  2) Analyzing costs and  3) Controlling Cost
    • Cost codes

    Session 5: Create cost consciousness

    • Key success factors

    Concluding remarks, action planning and wrap-up

    Course Duration
    1.5 days (10.5 hours)

     

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