Finance and Cost Management Training & Certification

Team-based digital learning

Your team will learn:

• Cost calculation
• Estimation and should cost
• TCO
• Value engineering
• Reading balance sheets
• Cash flow statements
• Financial ratios

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Finance and Cost Management Training & Certification

Learn how to master the fundamentals of finance and cost management by effectively planning, managing and control business costs. Discover how a total cost of ownership approach can benefit your organization and explore core financial concepts from balance sheets, profit and loss, TCO and EBITDA.

Cost management is the essential process of effectively planning and controlling the costs involved in a business and by implementing a cost management system. Your team will learn how to apply a Total Cost of Ownership (TCO) approach, how to calculate a cost breakdown and how to calculate “Should Cost”.

We deep dive into financial concepts such as value analysis, value engineering, balance sheets, profit and loss, EBITA, cash flow, ROTA, ROE, and working capital. We explore in detail not only the role of inventory accounting, activity-based costing, and the cash-to-cash cycle, but how they benefit your organization.

Managing costs

We explore the role procurement plays in managing costs – including price versus cost, cost management methodologies, cost modelling, TCO and value analysis, and category specific cost management.

Cost calculation

Learn how to develop a detailed, supplier-specific cost model and conduct a detailed cost breakdown.

Estimation and should cost

Understand the essential know-how to build an industry cost model and cost estimations, learn to work with industry averages, and use “should cost” as the starting point for negotiation.

TCO

A deep dive into developing and using a TCO analysis covering the definition and positioning, using TCO for supplier selection, and using TCO cost for supplier evaluation.

Value analysis and engineering

Discover the key principles of analyzing and engineering for best value, value analysis and cost matrices, the process and value analysis for tear downs.

Reading balance sheets

Learn how balance sheets provide insights into financial stability and how assets can contribute it. Learn how the liabilities and shareholders’ equity section of the balance sheet can affect stability.

Income statements

Discover what an income statement is, and how procurement can affect it.

Cash flow

Learn how cash flow is structured, how procurement’s actions affect the cash flow statement. We explore how procurement’s actions can impact the cash flow statement – including through investing and financing activities.

Financial ratios

Understand the key definitions of gross margin, profit from operations, ROTA, and how to calculate the current and acid test ratios.