Know Your Cost

Companies with poor cost information make bad decisions about products that are not “average”. Poor information causes companies to overprice easy, high-volume “gravy” products and underprice difficult, low-volume “dog” products.

Regardless of whether your company sells goods or services, learn how to double your profit by giving the dogs to your competitor and keep the gravy for yourself.

Topics Discussed

Understand Real Costs

• Why traditional approaches are inadequate
• How superior cost information can double your profit
• Make Activity Based Costing spreadsheet easy
• Accurately understand overhead costs
• Recognize joint and by-products
• Add throughput costing to your toolbox

Accurately Assign Costs

• Product development and launch costs
• Depreciation
• Occupancy costs
• Supervisory costs
• Information technology costs
• Administrative costs
• Selling costs
• Excess capacity costs
• Interest and the cost of capital

Cases and Group Discussion
This seminar includes six exercises to facilitate group discussion.

Target Audience
Cost Accountants, Controllers, Financial Leaders and CFOs

Level of Knowledge
Intermediate

Acronym
KYC

CPE Credit
8 hours group live

Delivery Method
Group Live

Area of Study
Accounting

Prerequisite
Designed for those with a minimum of six months experience in cost accounting. Participants should have at least six months of industry experience and thorough knowledge of financial accounting principles and practices.

Advanced Preparation
Bring a calculator or a laptop.