Companies with poor cost information make bad decisions about products that are not “average”. Poor information causes companies to overprice easy, high-volume “gravy” products and underprice difficult, low-volume “dog” products. Regardless of whether your company sells goods or services, learn how to double your profit by giving the dogs to your competitor and keep the gravy for yourself.
Course ID: KYC
Know Your Cost: Double Your Profit
- Learn how good design can improve both financial and management accounting. Learn costing methods that will lead to better management decisions about products. Learn when various costing methods are appropriate.
- Understand Real Cost – Why traditional approaches are inadequate – How superior cost information can double your profit – Make Activity Based Costing spreadsheet-easy – Accurately understand overhead costs – Recognize joint & by-products – Add throughput costing to your toolbox
- Accurately Assign Costs – Product development and launch costs – Occupancy costs – Information technology costs – Administrative costs – Selling costs – Excess capacity costs – Interest and the cost of capital Cases and Group Discussion: This seminar includes six exercises to facilitate group discussion.