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Cost Analysis for Decision Making

Corporate
Digital Skills

Business Management and Finance

Duration

35h

PRESENTATION

The training course «Cost Analysis for Decision Making»is designed to equip you with the skills and knowledge you need to" evaluate y understand the costs associated with various business decisions. During the training, you’ll learn how to break down and analyze costs within an organization, identify opportunities for savings and efficiency, and use this information to make decisions strategic well-founded. This training provides an essential foundation for those who wish to take on roles in leadership in finance, operations management, or strategic planning, as it enables informed decision-making that can influence a company's profitability and success.

Objectives

  1. Gain a solid understanding of the key concepts related to costs and its ranking in a business context.

  2. Learning how to use different cost systems y techniques to measure, track, and analyze costs within an organization.

  3. Develop the ability to make decisions informed and strategic decisions based on cost data, including the evaluation of costs by process and by order.

  4. Use the cost information to identify areas for improvement in business processes and reduce operating costs.

  5. Learn how to create and use budgets as a tool from financial control, as well as analyzing and taking corrective action based on budget variances.

  6. Acquire the ability to assess financial performance y operational of a company and use this information to make strategic decisions.

Syllabus

TEACHING UNIT 1. COSTS: CONCEPTS AND DEFINITIONS.

  1. Introduction: An Overview of Costs.
  2. Classification of Costs.
  3. Different Costing Systems.

TEACHING UNIT 2. COST CENTERS: COST ACCUMULATION SYSTEMS.

  1. Objectives and Structure of a Costing System.
  2. Establishment and Design of a Costing System.

TEACHING UNIT 3. COSTS PER ORDER.

  1. Cost Calculation by Order.
  2. Examples of Costs per Order.

TEACHING UNIT 4. PROCESS COSTS.

  1. Process-Based Costing.
  2. Examples of Process-Based Costs.

TEACHING UNIT 5. RELATIONSHIPS BETWEEN COSTS, PROFITS, AND BUSINESS VOLUME.

  1. Contribution Margin and Break-Even Point.
  2. Examples of Contribution Margin.

TEACHING UNIT 6. COSTS IN DECISION-MAKING.

  1. Decisions Based on Production Capacity.
  2. Examples of Decisions Based on Production Volume.

TEACHING UNIT 7. BUDGETS AND VARIANCES.

  1. Standard Costs and Variances.
  2. Calculation and Analysis of Deviations.
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Are the Educa PHAROS courses eligible for credit?

Many courses can be credited toward the master's programs at Structuralia.
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Facts about our area

+ 1.483

Hours

+88.999

Minutes

264

Courses

Educa PHAROS is a next-generation training model that places a company’s human capital at the forefront. Through a platform that adapts to each company’s corporate identity and offers a total of more than 900 courses, it provides tailored training for each organization. The unlimited flat-rate plan provides each company with the number of courses that best suits its needs, as well as the ability to determine which employees will have access.
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