Cost Rationalization Strategies

Code : 3/34

Why Attend This Training Course?

Organizations throughout the public and private sectors face the imperative to improve support for operations, reduce costs, and improve efficiency. When efforts to do so are not aligned with business objectives, organizations end up spending billions of dollars on initiatives with only short-term benefits. The training course weighs the benefits and downsides of short-term cost reduction vs. strategic cost optimization programs and offers a four-level framework for prioritizing initiatives that enables departments to better support the business, both today and for the future. It also provides a framework that can help CIOs prioritize cost optimization initiatives by considering not only the potential cost savings, but also other benefits, such as time requirements, degree of organizational and technical risk, impact on customers and investment required.

What Is The Training Course Methodology?

ACAD Corp’s methodology depends on enabling participants to interact and exchange experiences, explore their competencies and achieve their career aspirations, using forward-thinking training arts, such as Theoretical Lectures, Workshops, Open discussion to exchange opinions and experiences, Scenarios, innovative thinking brainstorming and teamwork, Role-play and simulation, and Audiovisual tools and materials. Participants will receive an agenda including training material as a reference, in addition to some extra notes and booklets. Training material will be presented in English and Arabic.

Who Should Attend This Training Course?

The training course is designed for technical and middle departments that help senior management in offering both the required information and analysis to make investment decisions, particularly,
  • Financial departments
  • Projects evaluation units
  • Information analysis and collection units

What Is The Training Course Objectives?

  • Explain the latest variables that effect cost accounting and its reflexes on cost accounting structure systems
  • Learn its contents and goals through cost reduction and expenditure rationalization in all the organizations, whether commercial, industrial or governmental
  • Acquire the cost measuring skills according used in modern methods in production and services cost measurement
  • Understand the cost provision importance for making the convenience decisions and other areas presentation
  • Develop the cost accountant performance like planning, control, cost reduction and expenditures rationalization
  • Obtain the required skills for expenditure rationalizations, cost reduction and measuring some of cost elements
  • Address some of problems handling of identified cost elements

What Is The Training Course Curriculum?

Variables and Functioning Dimension of Cost Accounting
  • Nature of cost accounting system
  • Characteristics and goals of cost systems
  • Structure, elements of costs concepts
  • Costs measurements and indicators
  • Cost accounting measurements methods and procedures
  • Disclosure methods of cost information
Variables Reflexes on Cost Accounting Job and Expenditure Rationalization
  • Cost systems context development
    • Costs systems and its contents
    • Cost loading theory
    • Methods of calculating cost
    • Measurement methods and procedures
    • Cost reduction fields and expenditure rationalization
  • Modern accounting methods to measure the production cost
    • Activity accounting
    • Production life cycle accounting
    • Achievement accounting
    • Target cost accounting
    • Practical cases
Development Fields of Cost Accounting Performance
  • Development fields of cost accountant performance
    • Activities analysis
    • Cost analysis
    • Cost planning
    • Cost control
    • Cost reduction
    • Case studies
  • Cost reports development
    • Requirements of cost reports development
    • Novelty aspects in cost report
    • Quality costs report
    • Damaged production costs report
    • Instrument and equipment operation follow up reports
    • Practical cases and models of cost reports preparation
Cost Reports Activation to Rationalize Expenditures and Reduce Cost
  • Convenient cost concepts to make decisions
  • Cost concepts
  • Cost analysis methods
  • Cost behavior study and its reflexes
  • Convenient costs to make decisions
  • Differential analysis use in making decisions
  • Similar cost analysis use in making decisions
  • Practical study cases
  • Relevant cost decisions to the company policies:
  • Purchasing cost reduction decisions
  • Profusion fighting costs decisions
  • Preventive maintenance decisions
  • Salaries and incentives systems restructuring decisions
  • Cost excellence decisions
  • Product redesigning decisions
  • Differentiation between modern technology alternatives
  • Case studies
Cost Accounting Performance Development to Rationalize Expenditures and Reduce Costs, according to Internal Accounting Standards
  • Measuring costs and handling them according to the internal accounting standards
  • Inventory Cost (standard 2)
  • Fixed assets acquisition costs (standard 16)
  • Credit cost (standard 23)
  • Case studies
  • Fixed assets depreciation (16)
  • Maintenance and fixing costs
  • Financing lease
  • Purchasing and stoking
  • Other variable problems
  • Case studies

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