Cost Analysis to Support Strategic Decisions

Cost control is one of the most effective and essential  tool for planning and monitoring organizational activities, as well as supporting future strategic decision.

Cost analysis is linked with strategy formulation, the budgetary process and performance management. It is crucial to interpret how costs behave so that realistic budgets and plans can be produced, and appropriate financial and non-financial resources can be made available to the business.

This EuroMaTech Cost Analysis to Support Strategic Decisions training course explores the traditional tools of cost analysis and control as well as new advanced approaches, which reflect and respond to the current complex business environment. In particular, you will learn:

• The cause-and-effect relationship among business strategy, operational objectives, measures and targets, and systems of performance measurement and reporting
• Traditional techniques of cost analysis and control compared to modern thought
• Advanced costing and management techniques (ABC, ABB, ABM, target costing)
• Overhead cost allocation and reduction
• The balanced scorecard construction and implementation

TRAINING OBJECTIVES

• How to add value to the bottom line
• Enhance cost awareness and its relationship with strategy
• Describe specific cost analysis and performance measurement techniques
• Learning how to get from cost to strategy then to performance measurement
• Broadening the management accounting knowledge
• Deliver more timely and useful information to decision makers
• Identify and manage key financial and non-financial indicators for the business