Supercharging an engine involves adding components on to the engine that make the engine much more powerful. Similarly, Supercharging Cost Accounting focuses on tools that will help you gain significant value from cost accounting and related information, regardless of what cost accounting approach or technique you use. The course begins describing the limitations of cost accounting, why they exist, and what tools, based on the concept of business domain management, you can add to improve the performance and value of cost accounting in your organization.
Course ID: SCCA
Supercharging Cost Accounting
- Understand the limitations of cost accounting. For instance, the values do not represent cash, they can be influenced by subjective and arbitrary treatments of data, and they vary based on how they’re calculated.
- Recognize the importance of a company-wide framework to align and improve cash, cost, and capacity management
- Discover how this framework adds significant value in understanding costs, how they’re calculated, and levers in operations that, when pulled, improve cash, costs, and profit
- Understand how improving profit can destroy cash and vice versa
- Align accounting with operations and enhance the value of the relationship between the two groups
- Introduce ways to improve the understanding and usefulness of cost accounting information
- Discuss the importance of managing capacity as a way to improve corporate cash performance
- Understand the fallibility of many sacred cows such as product costs are money, reducing costs saves money, increased profit means increased money, and increasing efficiency reduces costs
Who Should Attend
CPAs, CFOs, Controllers, COOs, VP Ops, Director Ops
Fields of StudyBusiness Management & Organization
Study or training in cost accounting