Strength in numbers - financial fitness for business
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Being Lean and Mean(ish) Programme

Costing products and services

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A business that wants to make a profit has to sell its goods and services for more than what it costs them over the medium to long term. Yet many businesses in manufacturing environments with multiple products or services may not be allocating their costs properly, resulting in cross-subsidisation of products or services. This seminar explains how to evaluate a product’s costs, using different techniques in the management accounting toolbox.

Topics

  • how the complexity of business has changed product costing
  • the building blocks of costing: materials, labour and overheads
  • traditional costing methods such as process costing, job costing, variable and absorption costing and cost volumes
  • break-even analysis
  • contemporary costing methods such as activity-based costing and target costing
  • activity-based budgeting and management
  • an alternative – the theory of constraints.

After the seminar you will be able to access additional course resources in our complimentary Financial Fitness Online Learning Centre. This includes a forum for discussions with other course participants and to communicate with the presenter, Michael Fowler. This is open for a month after the seminar, and is presently FREE.