The program equips professionals with advanced knowledge and tools to evaluate costs, improve cost assignment, and measure organizational performance effectively. It emphasizes the integration of cost analysis with strategic management, linking financial and non-financial indicators to organizational goals. Participants will explore activity-based costing, performance measurement systems, and the Balanced Scorecard framework, enabling them to drive continuous improvement and align cost management with strategic objectives.
By the end of this course, delegates will be able to:
- Enhance awareness of cost structures and drivers.
- Apply advanced cost analysis and performance measurement techniques.
- Select appropriate costing and performance measurement systems.
- Link cost analysis to strategy and organizational performance.
- Evaluate performance using ROI, EVA, and Balanced Scorecard perspectives.
- Discuss real case studies and practical applications.
Day 1: Refining Cost Accounting Systems
- Review of key cost concepts.
- Under costing and over costing problems.
- Cost drivers and activity-based costing.
- Advantages/disadvantages of ABC.
Day 2: From Cost Accounting to Management Control
- Decentralized organizations.
- Cost/profit/investment centers.
- Transfer pricing issues.
- Linkages with performance evaluation.
Day 3: Performance Measurement
- Measuring performance: quantitative vs qualitative indicators.
- ROI and EVA frameworks.
- Problems and examples.
Day 4: Linking Strategy to Action
- Balanced Scorecard introduction.
- Linking strategy to performance measurement.
- Financial, customer, internal process, and learning perspectives.
Day 5: Transformative Power of the Balanced Scorecard
- Shortcomings of traditional approaches.
- Integrated management model.
- Using the Balanced Scorecard to drive culture change.
- Continuous improvement and adaptation of scorecards.
- Professionals with direct financial responsibilities.
- Middle to senior managers across industries (manufacturing, production, engineering, sales).
- Project management professionals.
- Finance and accounting specialists.
- Executive Secretaries and related positions supporting senior leadership in financial and performance reporting.