Certificate in Cost Management
and Leadership

Cost management and leadership stand as vital elements in the management and direction of organizations. Contemporary organizations striving to maintain competitiveness must prioritize actions that enhance value for both customers and shareholders.

This Cost Management and Leadership training course addresses the challenges faced by professionals and analysts tasked with optimizing performance while minimizing costs within their respective processes. It equips finance professionals with essential accounting and finance knowledge and cost management skills necessary for effective decision-making in sustaining organizational health.

Key highlights of this Anderson training course include:

• Practical insights into management systems
• Best practices in budgeting
• Utilization of both traditional and innovative tools for budgeting and cost control
• Comprehensive analysis of multiple cost types for various purposes
• Application of Key Performance Indicators (KPIs) and the Balanced Scorecard framework

By the end of this Anderson training course, participants will be able to:

• Master the budgeting process
• Understand costs behavior
• Explore traditional & innovative approaches to Budgeting & Cost Control
• Analyze process costing
• Manage Balanced Scorecard

This Anderson training course is suitable to a wide range of professionals but will greatly benefit those with direct or indirect budget responsibilities within a Team, Department or Division. Moreover, the training course is suitable to first appointment professionals on fast-track development programs, and to professionals from every business discipline and department who have to run budgetary plans, and who are responsible for cost and strategic analysis, including:

• Financial Planning and Control Staff
• Those with direct or indirect financial responsibilities
• Those from every business discipline and department who have to run departments and budgetary plans, and who are responsible for cost and strategic analysis
• Those from all sectors of industry, irrespective of functional responsibilities, but particularly those involved in manufacturing, production, engineering or sales
• Those working in a project management environment

This Anderson training course will utilize a variety of proven learning techniques to ensure maximum understanding. This training course combines theory and practice. Therefore, besides in-class lectures, discussions and exercises, we use company examples to illustrate how the techniques presented have been applied in real case studies.

• The key role of cost Management in contemporary organizations
• The 21st century business imperative: Delivering value added (but to whom?)
• The role of the strategic identity of the firm in shaping Financial and Cost management strategy
• Understand your processes: Integrating financial and non-financial aspects
• Examples and Discussion

• Cost Concepts and Terminology
• Different Costs for Different Purposes
  • Fixed vs. Variable Costs
  • Manufacturing vs. Non-manufacturing Costs
  • Period vs. Product Costs: Inventory Evaluation and Control
• The Cost-Volume-Profit Analysis Model
• Contribution Margin Analysis
• Variance analysis

• How to refine a Costing System?
• The consequences of Under-costing vs Over-costing
• Traditional Cost Allocations Systems
• Activity-Based Costing
• Cost Drivers: Linking Resources, Activities and Management
• Activity-Based Budgeting (ABB) and Management (ABM)

• The key features of budgeting
• Accountability and centers of responsibility
• Budgeting and Its Behavioral Aspects
• Types of Budgeting: Pros and Cons
• Budget Management Process and Control

• Broadening performance measurement systems
• Beyond budgeting: Integrating financial and non-financial issues
• Introducing the Balanced Scorecard
• Introducing the Strategy maps
• Introducing Six-sigma

Anderson Certificate of Completion will be provided to delegates who attend and complete the course