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
Cost Accounting Performance Development Fields
Fields of developing cost accounting performance
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)
Cost measurement problems according to the international accounting standards