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Course Outline
Introduction to Cost Centers and Costing Fundamentals
- Purpose and structure of cost centers
- Cost classification: fixed, variable, direct, indirect
- Mapping organizational units to cost centers
Cost Driver Identification and Allocation Routines
- Selecting and defining cost drivers
- Allocation methods and frequency
- Maintaining allocation rules and schedules
Bills of Materials (BOM) and Component Costing
- BOM structures and cost rollup principles
- Handling multi-level BOMs and phantom assemblies
- Component substitution and cost impact analysis
Standard Costing, Variances and Reconciliation
- Establishing standard costs and updates
- Recording and analysing material and overhead variances
- Period-end reconciliation and corrective actions
Activity-Based Costing and Advanced Allocation Techniques
- Designing activity pools and cost assignments
- Calculating activity rates and unit costs
- Comparing ABC with traditional allocation approaches
Product Costing Workflows and Cost Rollups
- End-to-end costing for finished goods and services
- Interfacing costing with procurement and production records
- Simulating cost scenarios and what-if analyses
Controls, Auditability and Compliance
- Implementing access controls and change governance
- Audit trails for cost adjustments and revaluations
- Regulatory and reporting considerations
Performance, Optimization and Cost Reduction Strategies
- Identifying high-impact cost drivers and hotspots
- Process improvements and cost-to-serve analysis
- Continuous monitoring and KPI design for cost centers
Summary and Next Steps
Requirements
- An understanding of managerial accounting principles
- Familiarity with bills of materials and production processes
- Experience with ERP or financial systems at an operational level
Audience
- Cost accountants and financial analysts
- Product costing and supply chain specialists
- ERP functional consultants and system integrators
14 Hours
Testimonials (5)
The trainer did not leave a single minute unexploited! He was up a storm throughout every lesson and provided much material for whatever he dealt with.
Elpida - Unemployed
Course - Anti-Money Laundering (AML) and Combating Terrorist Financing (CTF)
Instructor interest in our dashboard to provide suggestions.
ELLEN CAROLINE SANTOS RIBEIRO - Ache Laboratorio Farmaceuticos S.a
Course - FinOps
Machine Translated
Personal service and orientated to my needs
ANN - New Vitality Clinic
Course - GnuCash for Business Accounting
I genuinely enjoyed the real examples of the trainer.
Joana Gomes
Course - Compliance and the Management of Compliance Risk
I was benefit from the interesting and clear ideas and suggestions.
