Financial Methodologies To Cost & Expense Rationalization

Code : 3/10

Why Attend This Training Course?

Traditional methods of cost cutting, such as reducing headcount and support functions, are failing to improve profit margins and deliver long-term savings. Therefore, companies that need to reduce costs should treat the challenge as an opportunity to identify and reinforce their key capabilities, while divesting those activities that do not truly reflect the business’s strengths or long-term goals. This more strategic approach will make your company more resilient as tough times continue and more robust as recovery begins. Our professionals can help your organization meet business needs by tackling key cost components through Strategic sourcing, reduction of spending demand management, IT consolidation and optimization, Consolidating IT platforms, hardware, and infrastructure and data.

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 Directors, managers, and executives of financial services and accountants in cost departments.

What Are The Training Course Objectives?

  • Acquaint the modern changes which affect cost accounting and these changes reflects on cost accounting system, its contents, goals through cost reduction and expenditures rationalization
  • Acquire the costs measurement skills according to the modern used methods in measuring production and services cost
  • Understand costs-saving importance for decision-making, and presentation of the variable areas
  • Develop the cost accountant performance like planning, control, and cost reduction and expenditure rationalization
  • Acquire skills of expenditures rationalization, cost reduction and measure some of the cost elements
  • Learn the requirements of the internal accounting standards, with perception for some of the tackled identified cost elements problems

What Is The Training Course Curriculum?

Variables and Functioning Dimension of Cost Accounting
  • Cost accounting system nature
  • Characteristics and objectives of cost system
  • Costs measurements and indicators
  • Costs accounting methods and measuring procedures
  • Disclosure methods of costs information
Variable Reflected on Cost Accounting Function and Expenditures Rationalization
  • Developing cost system framework
    • Cost framework and its contents
    • Cost loading theory
    • Cost calculation methods
    • Measurements methods and procedures
    • Cost reduction areas of and expenditures rationalizations
The modern accounting methods to measure production costs
    • Accounting of activity
    • Accounting of product life cycle
    • Accounting of achievement
    • Accounting of targeted costs
  • Case study
Cost Accounting Performance Development Fields
  • Fields of developing cost accounting performance
    • Activities analysis
    • Cost analysis
    • Cost planning
    • Cost control
    • Cost reduction
  • Costs reports development
    • Requirements for developing cost reports
    • Modernized aspects of cost reports
    • Quality cost report
    • Damaged production cost reports
    • Follow-up reports of equipment and machinery operation
    • Cases and practical models of cost reports preparation process
Cost Decisions Activation for Expenditures Rationalization and Costs Reduction
  • The convenient cost concepts for analysis and decision making
    • Cost analysis methods
    • Study the cost behavior and its reflections
    • Convenient costs for decision making
    • Use differential cost analysis for decision-making
    • Use similar cost analysis in decision-making
  • The purchasing cost reduction decisions
    • Fighting of extravagance decisions.
    • Preventive maintenance decisions
    • Compensation restructuring and incentives decisions
    • Cost excellence decisions
    • Product redesigning decisions
    • Differentiation decisions between modern technologies alternatives
Develop Cost Accountant Performance for Expenditures Rationalization
  • Measuring cost according to the international accounting standards
    • Inventory costs (standards 2)
    • Fixed assets acquisition costs (standard 16)
    • Loan cost (standard 23)
    • Case study
  • Cost measurement problems according to the international accounting standards
    • Depreciation of the fixed assets (16)
    • Costs of maintenance and fixing
    • The financing lease (17)
    • Purchasing and stoking (2)
    • Other varied problems
    • Case study
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