Cost controlling
In Short
- 2 days
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Cost Controlling is the foundation for all other controlling skills, and a prerequisite for our more advanced controlling courses. This course caters to controllers with a first experience, or to more experienced controllers who want to complete their knowledge.
This two-day course is unique in making the link between the physical business reality of manufacturing, its representation in ERP systems, the analytical costing entries in finance, and financial reporting to management via a P&L.
The course outlines the IFRS regulatory framework, explains the difference between direct costing and full costing in the P&L, and works backwards from this point towards cost concepts like FIFO versus standard costs. Then ERP concepts are explained how these concepts work in the system, and the link to the manufacturing reality is explored. Finally all concepts are linked back together into a correct P&L.Two large exercises at the end translate theoretical understanding into hands-on calculations in Excel.
At the end of the course you will be able to identify the key cost transactions for a production company, to see how those transactions originate in the manufacturing reality and through ERP systems, and how they lead to correct P&L reporting to management.
Some prior exposure to the field of controlling is helpful, but it is not a prerequisite.
There are no final dates assigned yet for this training.
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