Foundations in Cost Management

$69

This course provides non-finance professional with a comprehensive introduction to the principles of cost classification, costing methods and tools to apply in analyzing and reviewing the costs in your team or business unit. You will also learn a range of techniques to apply to reduce costs and improve profitability.

Description

In developing the budgets for your department or your business, it is useful to have an understanding of the basics of costs and cost management. In this concise course, you will learn about the basic principles of cost classification, costing methods and tools to apply in analyzing and reviewing the costs in your team or business unit.

You will learn to interpret cost information in constructing budgets and evaluating variations from expectations and learn to reconcile cost measures for managerial decision making with cost measures used to prepare financial accounting reports.

You will also learn a range of techniques to apply to reduce costs and improve profitability.

COURSE DETAILS

  • Suitable For: Business Owners and staff tasked with managing costs.
  • Course Duration: 10 to 16 Hours
  • Certification: Certificate of Attainment
  • Access Duration: 90 days
  • Delivery: Online
  • Resources: Learners manual, cost analysis and planning templates, additional articles and worksheets.

COURSE CONTENTS

This course comprises the following lessons:

Lesson 1 – Getting Started

Video – An Overview of Costs

SECTION 1: UNDERSTANDING COSTS

Lesson 2 – Understanding costs

Lesson 3 – Cost Centers and Cost Allocation

Video – Cost Centers and Profit Centers

Lesson 4 – Classifying Costs

Understand Costs and Budgets – Quiz 1

Cost Management – Quiz 1

SECTION 2: COSTING METHODS

Lesson 5 – Methods of Costing

Video – Job versus Process Costing

Lesson 6 – Standard Costs

Video – Which Costs to use as Standard?

Lesson 7 – Costs and Breakeven

Video – Break-even analysis explained

Lesson 8 – Reducing Costs

Video – Ways to Reduce Business Operations Costs

Lesson 9 – Wrapping-up

Cost Management – Quiz 2

Cost Management – Course Evaluation

CERTIFICATION: DOWNLOAD YOUR CPD CERTIFICATE ON COMPLETION