Every business or non-business organisation incurs costs while running its operations. Businesses that can minimise its cost can ensure profitable growth. Thus organisational cost efficiency has become a key success factor for today’s business organisations. However, main challenges for the businesses are to identify relevant product or service cost and rank the costs against benefits. Also organisations can hardly observe the impact of overall profit by cutting a specific cost. It results in cutting essential and keeping unnecessary costs.
This course is designed to enable the participants to manage and control costs efficiently to optimise organisational benefits. At the end of the course the participants will be able to –
1. Identify relevant costs of products and services with full knowledge of practical costing techniques;
2. Rank costs in terms of benefits, importance and volatility;
3. Cut and reduce unnecessary costs and assess overall impact on the firm profitability;
4. Design practical cost planning and monitoring tools.
5. Budgeting and Budget Performance Evaluation;
6. Measuring Performance of Divisionalised Businesses.
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