This 90 minute training on Activity Based Costing (ABC) will discuss its application and use in business decision making and teach attendees the key elements of cost management practices and ABC implementation principles for improving business performance.Why Should You Attend:
International organizations are facing ever increasing pressure to more effectively manage costs. Activity Based Costing (ABC) can help organizations better understand their costs and can provide the level of accuracy needed to make critical business decisions while avoiding the inaccuracies imposed by arbitrary overhead allocations.
This webinar will review the evolution of cost management and the role of accurate cost in maximizing organizational values. It will discuss the key elements of cost management practices and their history and current use in both the public and private sector.
Areas Covered in the Seminar:
Following topics will be discussed during the webinar:
- The role of accurate cost in maximizing organizational value.
- A brief history of cost accounting and its relationship to management accounting and financial accounting.
- A comparison of ABC vs. traditional cost accounting in meeting the needs for business decision making.
- ABC as part of a cost accounting system, vs. use of ABC an offline analytical tool.
- Principles in implementing ABC
- Use of ABC for understanding cost and performance drivers.
- Combining ABC with performance management to prioritize and evaluate improvement opportunities.