Cost Management Training Course
2026-08-17 09:00 - 2026-08-21 13:00 (Asia/Riyadh) | http://online
Introduction
Cost Management involves applying management accounting concepts and methods to collect, analyze, and present data needed for planning, monitoring, and controlling costs. Achieving cost leadership is crucial for gaining a competitive advantage, which requires a robust cost management system.
Learning Objectives
The Cost Management Certification Course aims to:

Differentiate between traditional and modern cost management techniques.
Understand various product pricing strategies.
Apply cost management techniques for strategic decision-making.
Utilize performance evaluation techniques by linking critical success factors with key performance indicators.

Training Methodology
The course will include:

Presentations by experienced subject matter experts
Group discussions
Problem-solving exercises
Accounting statement practice
Group activities
Sharing experiences and best practices Xcelerate Training Institute follows the ‘Do–Review–Learn–Apply’ model.

Benefits for Your Organization
Organizations will benefit from:

Increased profitability through cost reduction and strategic positioning.
Improved control over overall business costs.
Creation of a cost management system to predict future expenses and revenues.
Proper recording and presentation of cost data for efficiency measurement and cost control.

Benefits for You
Participants will gain:

Leadership in cost management.
Insights into reducing costs and establishing cost controls.
Enhanced performance in estimation, budgeting, and cost control.
Ability to manage costs professionally and competently.

Target Audience
This course is ideal for:

Financial controllers and finance managers
Financial systems analysts and senior accountants
Financial accountants and management accountants
General ledger accountants, assistant accountants, accounts receivable and payable accountants, payroll accountants
Management and decision-makers relying on timely and accurate financial information
Chief Financial Officers (CFOs), finance directors, and strategic planners

Course Outline
Introduction to Cost Management

Cost Management Concept
Traditional Cost Management
Modern Cost Management
Benefits of Modern Cost Management

Traditional Cost Management

Product Cost Management
Material Cost
Employee Cost
Overhead
Job Costing
Batch Costing
Unit Costing
Process Costing
Limitations of Traditional Cost Management

Modern Business Environment

Characteristics of Modern Business Environment
Business Excellence Model
Total Quality Management
Supply Chain Management
Business Process Reengineering
Outsourcing
Just-in-Time
Six Sigma Techniques

Modern Cost Management Techniques

Cost Reduction
Cost Control
Target Costing
Value Engineering
Pareto Analysis
Life Cycle Costing

Decision Making

CVP Analysis
Activity-Based Costing
Theory and Principles of Product Pricing
Sensitivity Analysis
Pricing Strategies

Performance Evaluation

Responsibility Accounting
Critical Success Factors
Key Performance Indicators
Balanced Scorecard
Performance Pyramid
Building Block Model

Cost Control and Analysis

Marginal Costing
Contribution Margin
Break-Even Analysis
Margin of Safety
Product/Service Cost under Marginal Costing
Standard Costing
Setting up Standards
Types of Standards
Cost Variance
Integration of Standard Costing with Marginal Costing

Budgets and Budgetary Control

Introduction to Budgeting
Budget Setting Process
Flexible Budgets
Functional Budgets
Cash Budget
Master Budget
Zero-Based Budgets
Performance Budgets
Behavioral Aspects
Beyond Budgeting
