Course Outline
Foundations of Cost Centres and Costing Basics
- The role and structure of cost centres
- Cost categorisation: fixed, variable, direct, and indirect
- Aligning organisational units with cost centres
Establishing and Configuring Cost Centres
- Defining new cost centres and cost centre groups
- Assigning responsibilities, hierarchies, and control parameters
- Managing master data and lifecycle stages
Identifying Cost Drivers and Allocation Procedures
- Selecting and defining appropriate cost drivers
- Allocation methodologies and frequency
- Maintaining allocation rules and schedules
Integrating Machine and Labour Hours
- Defining machine hours and operator labour hours
- Capturing runtime metrics and operational logs
- Integrating hours into cost centres for accurate cost absorption
Bills of Materials (BOM) and Component Costing
- BOM structures and cost roll-up principles
- Managing multi-level BOMs and phantom assemblies
- Component substitution and cost impact assessment
Standard Costing, Variances, and Reconciliation
- Setting and updating standard costs
- Recording and analysing material and overhead variances
- Period-end reconciliation and corrective measures
Activity-Based Costing and Advanced Allocation Methods
- Designing activity pools and cost assignments
- Calculating activity rates and unit costs
- Comparing ABC with traditional allocation techniques
Absorption Costing and Cost Roll-ups
- Absorbing machine hours, labour hours, and overheads into product costs
- End-to-end costing for finished goods and services
- Simulating cost scenarios and conducting 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, Optimisation, 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 centres
Conclusion and Next Steps
Requirements
- A solid grasp of management accounting principles
- Knowledge of bills of materials and production processes
- Operational experience with ERP or financial systems
Target Audience
- Cost accountants and financial analysts
- Product costing and supply chain specialists
- ERP functional consultants and system integrators
Custom Corporate Training
Training solutions designed exclusively for businesses.
- Customized Content: We adapt the syllabus and practical exercises to the real goals and needs of your project.
- Flexible Schedule: Dates and times adapted to your team's agenda.
- Format: Online (live), In-company (at your offices), or Hybrid.
Price per private group, online live training, starting from 2600 € + VAT*
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Testimonials (3)
How to manage business financials
surprise mtileni - Hatima Holdings (Pty) ltd
Course - Learning Xero
Flexibility in the course delivery and the interactive approach. The trainer was open to questions, clarified doubts clearly and also considered participants suggestions during the sessions. The training was well structured and informative.
Soundarya Mohan - Mizuho Bank Europe N.V.
Course - Financial Analysis in Excel
Good communication, open for discussion, kept it interesting and engaging
