Cost Management and Improvement for Accounting and Finance Professionals (173004)

Description:

Costs represent the dollar value of resources consumed in support of near term and longer term strategic goals of a business. The underlying theme of the seminar is based on the simple fact that in order to manage and improve costs the accountant must be able to measure all processes that consume resources. Traditional cost-cutting is based on irrational actions that may not be fact-based. CMI ensures processes that don't add value will be identified and eliminated thus enabling an intelligent approach to cost reduction.

Objectives:

• Plan, design and conduct a CMI project
• Hands-on model development
• Pinpoint the difference between value-added processes (VAP) and non-value-added processes (NVAP)
• Isolate significant NVAP and identify cost reduction opportunities

Major Topics:

• Hands-on exercises with PCs and familiar spreadsheet technology
• Eight steps for a successful CMI implementation
• Examine case studies to detect VAP and NVAP
• Develop spreadsheet models in support of decision making
• Apply cause-and-effect diagrams
• Learn to cut costs and improve profitability
• Apply flow charting and brainstorming tools
• Identify unprofitable customers and applying CMI to optimize customer mix
• Using optimization techniques to maximize cash flow
• Apply Excel-based problem-and-solution sets
• Build a new level of confidence that ensures a rapid conversion of theory into practice

Who Should Attend:

Accounting analysts, auditors, CFOs, Controllers, financial managers and operations managers

Prerequisite:

Professional degree or equivalent along with a basic knowledge of PCs and spreadsheet technology