Modern Methods of Rationalization of Expenditure and Cost Reductio
- Familiarizing participants with modern environmental variables that affect cost accounting and the implications of those variables on the structure and components of cost accounting systems.
- Providing participants with appropriate cost-saving skills for financial and administrative decision-making.
- Providing participants with the necessary skills to rationalize expenditure, reducing cost and measuring some of the cost elements in accordance with the requirements of international accounting standards.
- Empowering participants to familiarize and recognize administrative accounting rules and their role in reducing costs and rationalizing expenditure.
- Enabling participants to acquire the cost-system development skills and to address costs in accordance with international standards
Who Should Attend?
- Financial managers and their deputies, account managers, heads of financial and accounting departments, account supervisors, accountants, directors and heads of audit units and review and financial advisors, whether in the public sector and private companies or community-based organizations, and personnel who are rehabilitated to perform the tasks accounting and auditing, and those who wish to develop their financial and accounting skills and capabilities.
Basic concepts of accounting and cost systems
- Financial accounting, management accounting and cost accounting.
- The role of management accounting in cost reduction.
- Cost, volume and profitability analysis (CVP).
- Analysis of equivalence in the case of multiplicity products.
- Cost-accounting systems and traditional methods of its analysis.
- Reducing cost and achieving leadership.
- Cost-cutting process.
- The outputs of cost-accounting system.
Modern environmental variables affecting cost accounting
- The characteristics and objectives of the cost system.
- Methods and procedures for cost accounting measurement.
- Methods of disclosing cost information.
- Structure, elements and concepts of costs.
- Cost parameters and indicators.
Development of the cost system framework
- Cost structure and components.
- Cost calculation methods.
- Areas of cost reduction and rationalization of expenditure.
- Cost-loading theories.
- Measurement methods and procedures.
- Accounting based on activity, delivery and product life cycle.
- Accounting for targeted costs.
Appropriate cost concepts for decision-making
- Studying the behaviour and implications of costs.
- Using differential analysis in decision-making.
- Methods of cost analysis.
- Appropriate decision-making costs.
Measurement and treatment of costs in accordance with international accounting standards
- Standard 2 inventory costs.
- The cost of borrowing is standard 22..
- Maintenance and repair costs.
- Purchase and storage costs standard 2.
- The acquisition of fixed assets is standard 16.
- Fixed asset depreciation standard 16.
- Financial Leasing Standard 17.