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Cost Accounting: Decision-Making, Pricing Decision and Cost Management

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This Course is Designed For:

 Chartered Accountants;
 Certified Accountants;
 Licensed Accountants;
 Cost Accountants;
 Management Accountants;
 Organisational Decision-makers;
 Inventory Managers;
 Quality Managers;
 Pricing Specialists;
 Balanced Scorecard Specialists;
 Senior Managers;
 Product Managers;
 Operational Directors;
 Profit Centre Managers;
 Budget Specialists;
 Strategic Managers.

Duration: 5 Days
Course Contents, Concepts and Issues

Part 1: Decision Making, Salient Issues
 Decision Models;
 Five-Step Decision-Making Process;
 Relevance;
 Relevant Cost Illustration;
 Features of Relevant Information;
 Sunk Costs Are Irrelevant in Decision Making;
 A Starting Point: Absorption-Based Budgeted Income Statement;
 Types of Information;
 Terminology;
 Types of Decisions;
 One-Time-Only Special Orders;
 Special Order Illustration;
 Make-or-Buy Illustration.

Part 2: Relevant Cost and Profitability Analysis
 Potential Problems with Relevant-Cost Analysis;
 Avoiding Potential Problems with Relevant-Cost Analysis;
 Insourcing vs. Outsourcing;
 Qualitative Factors;
 Opportunity Costs;
 Product-Mix Decisions;
 Adding or Dropping Customers;
 Customer Profitability Analysis, Illustrated;
 Adding or Discontinuing Branches or Segments;
 Adding/Closing Offices or Segments;
 Equipment-Replacement Decisions;
 Behavioural Implications.

Part 3: Pricing Decision in Business
 Pricing and Business;
 Influences on Demand and Supply;
 Time Horizons and Pricing;
 Differences Affecting Pricing: Long Run vs. Short Run;
 Alternative Long-Run Pricing Approaches;
 ABC Manufacturing Cost Illustration;
 Product Profitability Using ABC Costing: Illustration;
 Markets and Pricing;
 Market-Based Approach;
 Understanding the Market Environment;
 Five Steps in Developing Target Prices and Target Costs.

Part 4: Value Engineering, Costing and Budgeting in Pricing Decision
 Value Engineering;
 Value Engineering Terminology;
 Cost Incurrence and Locked-In Costs Graph;
 Problems with Value Engineering and Target Costing;
 Target Costing Illustration;
 Cost-Based (Cost-Plus) Pricing;
 Forms of Cost-Plus Pricing;
 Common Business Practice;
 Life-Cycle Product Budgeting and Costing;
 Important Considerations for Life-Cycle Budgeting;
 Life Cycle Budgeting, Illustrated;
 Other Important Considerations in Pricing Decisions;
 The Legal Dimension of Price Setting.

Part 5: Cost Management
 A Systems Framework: Accounting Information System.
 Factors Affecting Cost Management;

 The Role of Management Accountant:
 Accounting and Ethical Conduct:
 Cost Management Concepts.

The course cost does not include living accommodation. However, delegates are treated with the following:
 Free Continuous snacks throughout the Event Days;
 Free Hot Lunch on Event Days;
 Free City Tour;
 Free Stationery;
 Free On-site Internet Access;
 HRODC Postgraduate Training Institute’s Diploma – Postgraduate – or
 Certificate of Attendance and Participation – if unsuccessful on resit.

We offer very attractive discount for groups of 3 and more people, from the same organisation, taking the same course. This discount is between ten percent (10%) and thirty three percent (33%), depending on the group size. Even with these discounts, we can also deliver courses for groups in the country of your choice.

Courses are delivered in over 30 Cities including Miami, London, Dubai, Kuala Lumpur, Paris, Milan, Caracas, Manila, Manama.

Please feel welcome to contact me, at any time. My e-mail addresses are: fria@hrodc.com; and fria.hrodc@outlook.com
My Direct telephone number is +442071935906

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London

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