An Intensive 5-day Training Course
Cost Analysis to Support Strategic Decisions
Empowering Decision-Makers with Financial Acumen
CLASSROOM DATES
INTRODUCTION
Strategic management and strategic objectives are integral to the development of an organisation’s long-term plans. Budgets are the short-term plans detailing year-by-year how these objectives may be achieved. Cost analysis and cost control are the essential tools to support this budget process. Cost analysis considers the various types of cost and their behaviour and assesses their impact on, and implementation in, the budget process.
This Cost Analysis to Support Strategic Decisions course focuses on strategic decision-making, cost analysis and budgeting. It is important that all managers in every department understand the budget and appreciate that it is a vital component of managing their organisation. The course will aim to build on your understanding of the overall budgeting process and how it relates to the strategic objectives of your organisation. It will explore traditional and alternative methods of cost analysis and control, setting performance targets and measures, achieving control over budgeted costs, maintaining good cash flows and making correct capital budget project decisions.
In particular, it will include:
- Strategic management, operational objectives, budgeting and performance measurement
- Techniques of cost analysis and control
- Overhead cost allocation techniques
- Operating budgets, cash budgets, and capital budgets
- Activity based costing, budgeting and management, and target costing
- Overhead cost reduction
- Balanced scorecard.
TRAINING OBJECTIVES
By the end of this Cost Analysis Training Course, participants will be able to:
- Creating corporate value and shareholder value
- Identifying the purposes of budgets and their impact on the organization
- Appreciating the links between costing, budgeting, and strategic management
- Considering the motivational impacts of budgets
- Budgeting for planning and for control
- Using budgets for responsibility accounting
- Developing cost awareness
- Implementing and using the balanced scorecard
WHO SHOULD ATTEND?
This Cost Analysis Course is designed for professionals from all industries and functions who want to strengthen their financial and strategic skills. It is ideal for:
- All business professionals in every industrial sector, and in whichever functional role they have responsibilities
- All persons having responsibility for costing, or budgeting, or strategic planning
- Professionals who wish to enhance and develop their financial and planning skills
- Personnel undertaking organisational fast track development.
TRAINING METHODOLOGY
This EuroMaTech training course will be conducted along workshop principles combining theory and practice, interactive worked examples, and team-based exercises and case studies. Relevant real-world case studies will illustrate the application of each of the tools and techniques. Group discussion will form a major part of this course. Difficult mathematical concepts are minimised wherever possible and handled in a visual way that is easy to understand.
TRAINING SUMMARY
This Cost Analysis To Support Strategic Decisions course will aim to improve communication between departments and functions towards the shared primary objective of maximisation of shareholder wealth. It will achieve this through increased financial awareness and support of improvement in financial performance and value-adding decision-making in your organisation. Personnel from every role and discipline in your organisation will be better able to identify the financial and non-financial links between strategic management, budget planning and cost behaviour and analysis.
TRAINING OUTLINE
Day 1: Strategic Development and Management
- Managing Contemporary Organisations
- Strategic Management, Budgeting, Costing and Management Control
- Management Accounting for Organisational Control Systems
- Responsibility Accounting and the Process View
- The Budget and Its Role for Achieving Organisational Targets
- The Situation in Your Organisation
Day 2: Cost Behaviour and Analysis
- Cost Terms and Methodologies
- Manufacturing Costs vs. Non-Manufacturing Costs
- Variable Costs vs. Fixed Costs
- Cost/Volume/Profit (CVP) Analysis
- Product Costs vs. Period Costs
- Direct Costs vs. Indirect Costs
- The Linkages Between Budgeting and Costing
- Under-Costing and Over-Costing Problems
Day 3: Costing, Operating Budgets, Cash Budgets and Capital Budgets
- The Limitations of the Budget
- The Sales and Costs Budget
- The Master Budget
- Activity Based Costing, Budgeting and Management (ABC, ABB and ABM)
- Capital Budgeting
- Financing the Budget
- The Motivational Aspects of Budgeting
Day 4: Flexed Budgets and Variance Analysis
- The Budgets and Performance Measurement as Tools for Communication
- Improving Your Organisation’s Financial Performance
- Standard Costing and Budgeting
- The Static (Planning) Budget and a Flexible (Control) Budget
- Flexed Budgets, Volume and Operational Variances
- Activity Based Flexed Budgets
- Integrating Continuous Improvement into Variance Analysis
- The Imperative of Value Creation
Day 5 – Linking Strategy to KPIs: The Balanced Scorecard
- Making the Strategy Visible and Transparent
- Non-Financial Performance Indicators
- The Balanced Scorecard and Its Four Perspectives
- Implementing the Balanced Scorecard
- Setting Objectives and Key Performance Indicators (KPIs)
- Developing Strategy Maps
- Implementing a Balanced Scorecard for Your Organisation
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ACCREDITATION
EuroMaTech is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
Euromatech is a Knowledge & Human Development Authority (KHDA) approved training institute in Dubai, licensed and approved to deliver training courses in the UAE.
The KHDA is the regulatory authority in the UAE, that oversees administering, approving, supervising, and controlling the activities of various education providers in the UAE. We are proud of our commitment to ensuring quality training courses and status as a KHDA-approved training provider.
FAQ
EuroMaTech provides a range of ISO certification and compliance training courses, including:
- ISO 9001 – Quality Management Systems Training
- ISO 45001 – Occupational Health & Safety Management Training
- ISO 14001 – Environmental Management Systems Training
These courses help organizations adopt internationally recognized standards and improve their overall performance.
To register for a training course, you can:
- Visit the EuroMaTech website, browse the available courses, and follow the online registration process.
- Contact EuroMaTech’s support team for assistance with course selection or inquiries about corporate training solutions.
EuroMaTech stands out as a leader in training and professional development due to:
- 30+ years of experience delivering high-impact training courses across industries.
- Accreditations from leading institutions, ensuring top-tier course quality and recognition.
- A portfolio of thousands of training courses, serving professionals at every level.
- A focus on innovation and future-ready learning models, including blended and digital training.
- Long-term partnerships with organizations globally, ensuring sustained success through talent development.
EuroMaTech has successfully delivered thousands of training courses, with thousands of professionals from over 50 countries attending annually.
We are happy to share the profiles of our expert instructors. To learn more about their qualifications and experience, please contact us info@euromatech.com
We provide two flexible training formats to suit your preferences:
- Classroom Training: Experience in-person learning with expert instructors. Engage in interactive discussions, hands-on activities, and benefit from face-to-face networking.
- Online Training: Join live online sessions from anywhere, offering flexibility for those with busy schedules or who prefer remote learning.
- In-House Training: We can bring our training directly to your organization, allowing for tailored sessions that address your specific needs and objectives.
Yes, we provide tailored training solutions designed to meet the specific needs of your organization. Customized courses can be delivered either in-person or online, and you can select the dates and duration that best fit your schedule. For more details, please contact us at inhouse@euromatech.com
Yes, we can assist you with the following:
- Corporate Discount: If available, we can extend our corporate discount for your stay at selected hotels.
- Hotel Suggestions: We can provide recommendations for nearby hotels based on your preferences and budget.
Feel free to explore online booking platforms for the most cost-effective options.
