Strategic and Cost Management and Performance Evaluation

Introduction to Strategic Cost Management

(i) Concept of Strategic Cost Management

(ii) Limitations of Traditional Cost Management

(iii) Traditional vs. Strategic Cost Management

Modern Business Environment

(i) Introduction/ Characteristics

(ii) Cost of Quality, TQM, Business Excellence Model

(iii) Throughput Accounting and Theory of Constraints

(iv) Supply Chain Management (SCM)

(v) Gain Sharing Arrangements

(vi) Outsourcing

Lean System and Innovation

a) Just-in-Time (JIT)

b) Kaizen Costing

c) 5 Ss

d) Total Productive Maintenance (TPM)

e) Cellular Manufacturing/ One-Piece Flow Production Systems

f) Six Sigma (SS)

Introduction to Process Innovation and BPR

Cost Management Techniques

(i) Cost Control/ Waste Control, Cost Reduction

(ii) Target Costing

(iii) Value Analysis/ Value Engineering

(iv) Pareto Analysis

(v) Life Cycle Costing

(vi) Environmental Management Accounting

Cost Management for Specific Sectors

Decision Making

(i) Decision Making using CVP Analysis, Relevant Cost Concepts, Activity Based Costing

(ii) Ethical and Non-Financial Considerations Relevant to Decision Making  

Pricing Strategies/ Decisions

(i) Theory & Principles of Product Pricing, Pricing Strategies, Sensitivity Analysis, new product analysis

Performance Measurement and Evaluation

(i) Responsibility Accounting (ii) Linking Critical Success Factors (CSFs) to Key Performance Indicators (KPIs) and Corporate Strategy; Performance Measurement Models; Divisional Performance Measures; Benchmarking Schemes (iii) Performance Measurement in the Not-for-Profit Sector (iv) Preparation of Performance Reports 

Divisional Transfer Pricing

(i) Meaning, Purpose, Principles, Methods of Transfer Pricing

(ii) International Transfer Pricing

Strategic Analysis of Operating Income

(i) Operating Profit Analysis

(ii) Advanced Activity Based Costing, Activity Based Management (ABM), Activity Based Budgeting (ABB)

Budgetary Control

(i)The Concept of Feedback and Feed Forward Control

(ii)Behavioural Aspects of Budgeting

(iii)Behavioural Aspects of Budgetary Control

(iv)Beyond Budgeting

Standard Costing

(i)Analysis of Advanced Variances

(ii)Integration of Standard Costing with Marginal Cost Accounting

(iii)Reconciliation of Profit

(iv)Variance Investigation Techniques, Interpretation of Variances, Possible Interdependence Between Variances and Reporting

(v)Behavioral Aspects of Standard Costing, Limitation of Standard Costing.