Strategic Cost Management

Introduction

The importance of managing costs and aligning them with the business strategy of an entity is critical especially in the midst of challenging economic times faced by businesses today. Recognising that different costing systems and strategies need to be used for different managerial decisions, this programme aims to:

• Develop understanding of costing terminology, costing systems and break-even analysis
• Provide frameworks for evaluation of different types of alternative choice decisions like: make versus outsource, accept or not a customer order, continue a product line or drop, etc.
• Provide a comprehensive view on management control covering control structure issues like profit centres/SBUs and control process issues like budgeting, variance analysis, and performance evaluation.
• Provide tools for tracking organisational performance.