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Business Accounting: Issues of Cost and Short-term Decisions

Audience

Managers, prospective managers, and any other employees seeking competency in the area of accounting

Prerequisites

A basic understanding of the accounting function

Course Aim

To provide learners with an overview of the role of accounting in cost estimation and short-term decisions

Learning Objectives

Explain the criteria for determining selling price. Outline the basic pricing strategies. Define cost behavior and explain its importance. Discuss methods of estimating future costs. Use a basic spreadsheet package to estimate cost. Describe the cost-volume-profit relationship. Explain the importance of short-term operating decisions. Define incremental analysis. Explain how the economic framework is applied in short-term decision making.

Topics Covered

Pricing - What selling price? - Pricing strategies - DecisionPath: Devising A Pricing Strategy The Question of Cost - Cost behavior - Estimating cost - Hands-on: Performing a regression analysis - The cost-volume-profit relationship A Framework for Short-term Decisions - The elements of short-term operating decisions - What is incremental analysis? - Applying the economic framework - Hands-on: Making short-term decisions