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Course Details

Cost Management Guidebook - Second Edition (Course Id 703)

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Author : Steven Bragg, CPA
Status : Production
CPE Credits : 17.0
IRS Credits : 0
Price : $135.95
Passing Score : 70%
Primary Subject-Field Of Study:

Finance - Accounting and Auditing for Course Id 703

Description :

The Cost Management Guidebook addresses a number of tools that can be used to examine the cost structure of a business, including analyses for cost objects, constraints, and processes. The course also addresses how to reduce costs in all of the major areas of a corporation, including compensation, sales, production, procurement, and administration. There are also extensive discussions of asset reduction techniques, as well as cost management reports and measurements.

Usage Rank : 0
Release : 2014
Version : 1.0
Prerequisites : None.
Experience Level : Overview
Additional Contents : Complete, no additional material needed
Additional Links :
Advance Preparation : None.
Delivery Method : Self-Study
Intended Participants : Anyone needing Continuing Professional Education (CPE)
Revision Date : 23-Feb-2015
NASBA Course Declaration : Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam.
Approved Audience :

NASBA QAS - NASBA Registry - 703

Keywords : Finance, Cost, Management, Guidebook, Second, Edition, cpe, cpa, online course
Learning Objectives :

Course Learning Objectives

    • Note the advantages and dangers of having an active cost management program.
    • Identify the various types of costs, and how they are used.
    • Cite the applications to which direct costing analysis can be put, as well as any limiting factors.
    • State the components and derivation of the cost-volume-profit concept, and how it is used.
    • Identify the uses to which target costing can be put, as well as how costs can be altered to meet target costing goals.
    • Note the costs that are associated with cost objects, and the decisions that can arise from cost object analysis.
    • Identify the key components of constraint analysis, and how profits can be improved under this type of analysis.
    • Cite the tools used to conduct a process analysis.
    • State the components of a zero-base budgeting system, and the situations in which zero-base and conditional budgeting can be used.
    • Note the analysis tools to use for different cost reduction strategies.
    • Cite the types of cost reduction methods available when reducing compensation costs, and the side effects of using these methods.
    • State the methods used to reduce benefit costs, and the side effects of using these methods.
    • Identify the techniques available for increasing the effectiveness of sales and marketing activities, and the side effects of using these methods.
    • Identify the cost reduction techniques that can be used to reduce the costs of production and maintenance operations, and the side effects of using these methods.
    • Cite the key procedural steps and forms needed to maintain a proper system of procurement.
    • State the range of methods available for the reduction of costs for accounting, human resources, legal services, and other areas of administration.
    • Identify the cost reduction tactics available for managing facilities costs.
    • Note the methods used to reduce finance costs.
    • Cite the range of techniques used to reduce the investment in accounts receivable, and the situations in which they are most applicable.
    • State the cost reduction concepts used to reduce the level of inventory, and the situations in which they are most applicable.
    • Identify the analysis methods used to evaluate prospective investments in fixed assets, as well as alternative forms of payment for these assets.
    • Identify the key reports and report formats needed to support a system of cost management, and the situations in which these reports might be used.
    • Cite the most essential measurements used to evaluate the cost structure of a business, and the situations in which these measurements might be used.

Chapter 1
Overview of Cost Management

Note the advantages and dangers of having an active cost management program.

Chapter 2
Types of Costs

Identify the various types of costs, and how they are used.

Chapter 3
Direct Costing as an Analysis Tool

Cite the applications to which direct costing analysis can be put, as well as any limiting factors.

Chapter 4
Cost-Volume-Profit Analysis

State the components and derivation of the cost-volume-profit concept, and how it is used.

Chapter 5
Target Costing

Identify the uses to which target costing can be put, as well as how costs can be altered to meet target costing goals.

Chapter 6
Cost Object Analysis

Note the costs that are associated with cost objects, and the decisions that can arise from cost object analysis.

Chapter 7
Constraint Analysis

Identify the key components of constraint analysis, and how profits can be improved under this type of analysis.

Chapter 8
Process Analysis

Cite the tools used to conduct a process analysis.

Chapter 9
Zero-Base Budgeting

State the components of a zero-base budgeting system, and the situations in which zero-base and conditional budgeting can be used.

Chapter 10
Cost Reduction Strategy

Note the analysis tools to use for different cost reduction strategies.

Chapter 11
Compensation Cost Reduction

Cite the types of cost reduction methods available when reducing compensation costs, and the side effects of using these methods.

Chapter 12
Benefits Cost Reduction

State the methods used to reduce benefit costs, and the side effects of using these methods.

Chapter 13
Sales and Marketing Effectiveness

Identify the techniques available for increasing the effectiveness of sales and marketing activities, and the side effects of using these methods.

Chapter 14
Production and Maintenance Cost Reduction

Identify the cost reduction techniques that can be used to reduce the costs of production and maintenance operations, and the side effects of using these methods.

Chapter 15
Procurement Cost Reduction

Cite the key procedural steps and forms needed to maintain a proper system of procurement.

Chapter 16
Administration Cost Reduction

State the range of methods available for the reduction of costs for accounting, human resources, legal services, and other areas of administration.

Chapter 17
Facilities Cost Reduction

Identify the cost reduction tactics available for managing facilities costs.

Chapter 18
Finance Cost Reduction

Note the methods used to reduce finance costs.

Chapter 19
Accounts Receivable Reduction

Cite the range of techniques used to reduce the investment in accounts receivable, and the situations in which they are most applicable.

Chapter 20
Inventory Reduction

State the cost reduction concepts used to reduce the level of inventory, and the situations in which they are most applicable.

Chapter 21
Capital Budgeting Decisions

Identify the analysis methods used to evaluate prospective investments in fixed assets, as well as alternative forms of payment for these assets.

Chapter 22
Cost Management Reports

Identify the key reports and report formats needed to support a system of cost management, and the situations in which these reports might be used.

Chapter 23
Cost Management Measurements

Cite the most essential measurements used to evaluate the cost structure of a business, and the situations in which these measurements might be used.
Course Contents :

Chapter 1 - Overview of Cost Management

The Economics of Cost Management

How Costs Increase

Advantages of Cost Management

The Cost Management Environment

The Customer Service Conundrum

The Effects of Cutting Too Deep

Chapter 2 - Types of Costs

Fixed Costs

Variable Costs

Mixed Costs

Step Costs

Marginal Costs

Differential Costs

Discretionary Costs

Committed Costs

Sunk Costs

Chapter 3 - Direct Costing as an Analysis Tool

Overview of Direct Costing

Contribution Margin versus Gross Margin

Direct Costing as an Analysis Tool

Automation Investments

Cost Reporting

Customer Profitability

Profit-Volume Relationship

Outsourcing

Direct Costing Pitfalls

Increasing Costs

Indirect Costs

Relevant Range

Chapter 4 - Cost-Volume-Profit Analysis

Contribution Margin

Contribution Margin Income Statement

Breakeven Point

Margin of Safety

Cost-Volume-Profit Analysis

Sales Mix

Chapter 5 - Target Costing

The Basic Steps of Target Costing

Value Engineering Considerations

The Cost Reduction Program

The Milestone Review Process

Problems with Target Costing

The Members of a Design Team

The Role of the Accountant in Target Costing

Data Sources for Target Costing

The Product Life Cycle and Target Costing

Chapter 6 - Cost Object Analysis

Factors in Cost Object Analysis

The Assignability of Costs

The Customer Cost Object

The Employee Cost Object

The Product Cost Object

The Product Line Cost Object

The Sales Channel Cost Object

Cost Object Termination Issues

Which Cost Objects to Track

Chapter 7 - Constraint Analysis

Constraint Analysis Operational Terminology

Overview of Constraint Analysis

The Cost of the Bottleneck

Local Optimization

Constraint Analysis Financial Terminology

Constraint Analysis from a Financial Perspective

The Constraint Analysis Model

The Decision to Sell at a Lower Price

The Decision to Outsource Production

The Capital Investment Decision

The Decision to Cancel a Product

Chapter 8 - Process Analysis

Process Analysis Tools

Value Stream Mapping

Flowcharts

Run Charts

Check Sheets

Root Cause Analysis

Traffic Analysis

Chapter 9 - Zero-Base Budgeting

Overview of Zero-Base Budgeting

The Zero-Base Budgeting Process

Advantages of Zero-Base Budgeting

Problems with Zero-Base Budgeting

Conditional Budgeting

Chapter 10 - Cost Reduction Strategy

Failing Business Scenarios

Dealing with Unrelated Business Segments

Failing Business Model: Remain in the Same Business

Failing Business Model: Shift to New Model

Dealing with Expense Drift

Incorrect Cost Reduction Strategies

Chapter 11 - Compensation Cost Reduction

Proactive Hiring Solutions

Temporary Cost Reductions

Permanent Cost Reductions

Productivity-Based Solutions

Total Labor Cost Analysis

Timing of Compensation Changes

The Downsizing Process

Chapter 12 - Benefits Cost Reduction

Benefit Cost Sharing

Benefit Reductions

Benefit Limitations

Benefit Exclusions

Benefit Swaps

Benefit Aggregation Concepts

Benefit Terminations

Workers’ Compensation Issues

Corporate Wellness Programs

Training Benefits

Eligibility Audits

Benefit Cost Administration

Other Cost Management Concepts

Chapter 13 - Sales and Marketing Effectiveness

Sales Effectiveness Improvements

Marketing Effectiveness Improvements

Customer Service Issues

Raise Prices

Chapter 14 - Production and Maintenance Cost Reduction

Production Cost Reduction

Complexity Reduction

Manufacturing Systems

Production Cells

Production Line Issues

Quality Issues

Bottleneck Analysis

Outsourcing Issues

Inventory Reduction

Administrative Issues

Maintenance Cost Reduction

Equipment Maintenance

Maintenance, Repair, and Operations Procurement

Chapter 15 - Procurement Cost Reduction

Purchase Requisition Procedure

Purchasing Procedure

Procurement Process Changes

Procurement Centralization

Supplier Relations

Consolidation Activities

Standardize Supplier Dealings

Integrate with Suppliers

Other Cost Management Opportunities

Total Cost Concept

Outsourcing Concepts

Spend Management

Chapter 16 - Administration Cost Reduction

General Administration Cost Reduction

Accounting Cost Reduction

Accounts Payable

Auditing

Collections

Cost Accounting

Customer Billing

Fixed Assets

Payroll

Reporting

Systems

Human Resources Cost Reduction

If Human Resources is Supported

If Human Resources is Not Supported

Legal Services Cost Reduction

Information Technology Cost Reduction

Travel and Entertainment Cost Reduction

Chapter 17 - Facilities Cost Reduction

Facility Location

Lease Rates

Facility Costs

Facility Usage

Furniture and Office Equipment

Projecting Future Usage

Chapter 18 - Finance Cost Reduction

Banking Cost Management

Debt Management

Cash Management Cost Reduction

Investment Strategy

Leasing Cost Reduction

Insurance Cost Reduction

How to Operate with Zero Working Capital

Chapter 19 - Accounts Receivable Reduction

Credit Risk Reduction

Payment Guarantees

Title Retention

Credit Insurance

Factoring

Letters of Credit

Export-Import Guarantees

Outside Financing

Distributor Sales

Adjustment of Days to Pay

Collection Tactics

Dunning Letters

Take Back Merchandise

Hold Orders

Split Payments

Postdated Checks

Promissory Note

Arbitration

Attorney Letters

Issue Small Claims Court Complaint

Collection Agency

Money Judgment Collection Activities

Chapter 20 - Inventory Reduction

The Cost of Inventory

Product Planning

Purchasing and Receiving

Inventory Storage

Production

Fulfillment

Inventory Disposition

Inventory Management Practices

Chapter 21 - Capital Budgeting Decisions

Overview of Capital Budgeting

Bottleneck Analysis

Net Present Value Analysis

The Payback Method

Capital Budget Proposal Analysis

The Outsourcing Decision

The Post Installation Review

The Lease or Buy Decision

Chapter 22 - Cost Management Reports

Expense Reporting

Payroll Reporting

Margin Reporting

Spend Reporting

Responsibility Reporting

Cost Reduction Opportunity Reporting

Chapter 23 - Cost Management Measurements

Compensation Measurements

Profit per Person

Proportion of Pay at Risk

Employee Turnover

Benefits Measurements

Benefits to Base Pay Ratio

Employee Cost Sharing as Percent of Pay

Sales Measurements

Sales Productivity

Sales Effectiveness

Quote to Close Ratio

Production and Maintenance Measurements

Manufacturing Effectiveness

Throughput of Post-Bottleneck Scrap

Order Cycle Time

Procurement Measurements

Procurement Card Usage Percentage

Proportion of Spend Managed

Proportion of Spend with Preferred Suppliers

Administration Measurements

Administration FTEs per $1,000,000 Revenue

Administration Cost as Percent of Revenue

Transaction Error Rate

Facilities Measurements

Square Feet per Person

Cost per Square Foot

Finance Measurements

Proportion of Cash Invested

Average Interest Rate Paid in Excess of Prime Rate

Asset Measurements

Receivables Turnover

Inventory Turnover

Fixed Asset Turnover

Glossary

Finance Course 703 Home: https://www.cpethink.com/cpe-for-cpas
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