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FA003 – MANAGING COSTS & WASTAGE (MCW)

Finance for Business ManagersApril 22, 2025finetadmin

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With skyrocketing raw material prices and wages, coupled with global competition, can your businesses keep cash flow and profits in the future? No two ways about it – you need to seriously talk cost control! Perhaps it should be CAUSE Control? And URGENTLY too! Managing costs and their causes has never been more urgent and all your key managers and their frontline or back end staff must be fully pro active and partcipative. We are all facing challenging times and we all have only a few months to achieve our profits and cash flow budget. As if global competition is not enough – we have now volatile energy prices and surging overhead costs that might possibly bankrupt many businesses.

It is NOW very urgent that our key managers and staff be immediately prepared to cope with the rising costs and depleting cash flows starting NOW!

Subject Description
Objective To provide an understanding of business costing and develop skills and cost conscious thinking.

  • Generate cost savings in your businesses
  • Protect yourinvestment against rising costs
  • Uncover common hidden expenses
  • Begin the process of bringing business costs down
Upon Completion Participants would be able to understand the costing components of common business activities and a framework for developing cost control in their areas of responsibilities.
Methodology Instructor led discussions, followed by scenario analyses and self reflection exercises.
Who Should Attend This workshop is for everyone; administration, human resource executives, even accountants and financial managers, IT professionals and factory production leaders. Finance Managers and CEOs would definitely benefit immensely as soon as cost savings exercise is implemented. The sooner, the BETTER.
Duration 2 days
Code MCCP / FA001

Course Outline

Subject Summary Description
Operating financial reports
  • Understanding the Income statement
  • The ROI – Return on investments
    Workshop activity: review and critique of business profits and losses
Business costs and profitability
  • Cost concepts
  • Organization of business costs
  • Cost revenue relationships
    Workshop activity: cost review and cost relationship exercises
Managing costs and productivity
  • Costs and its economics
  • Cost control and wastage
  • Managing costs – MLO
    Workshop activity: cost wastage identification and solutions

Our Services

  • GENERAL FINANCIAL INTELLIGENCE
  • ESSENTIAL SKILLS FOR BANKING
  • MANAGEMENT COMPETENCY
  • BUSINESS IMPROVEMENT
  • PERSONAL EMPOWERMENT

About FiNET

Financial skills are fundamental to business success. Financial skills are part of business competency today. These skills range from the basic ability to read and understand financial reports to budgeting and investment feasibility assessment to the ability to manage corporate cash flows and implementing cost control.

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  • GENERAL FINANCIAL INTELLIGENCE
  • ESSENTIAL SKILLS FOR BANKING
  • MANAGEMENT COMPETENCY
  • BUSINESS IMPROVEMENT
  • PERSONAL EMPOWERMENT

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Suite 33-01, 33rd Floor, Menara Keck Seng, 203 Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia
+ (603) - 2116 5926
+ (603) - 4260 41992
training@finetglobal.com
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