Whether an organization is a business or a nonprofit entity, the process of planning and controlling the costs is a critical function. The success of an organization depends only in part on generating revenues – many high-revenue enterprises fail every year. The missing ingredient in these cases is effective cost management. This course will discuss methods of cost management through the use of proper accounting processes and control measures. 

Areas Covered:-

• The misleading nature of cash accounting in managing costs
• Choosing appropriate inventory accounting methods
• Understanding the real cost of employees
• Project cost management
• Proper resource planning
• Accurately estimating costs
• Budgeting as a control measure
• The importance of internal controls