An Introduction to Value Management, Product Costing and Pricing

In addition to your class tuition and study materials, you will receive the following:


Case Study

• A pack of case study questions that will be used as a basis for
• group work in class to practically reinforce learning of topics
• covered during the day
• - Costing techniques
• - Pricing techniques
• - Value management

Other Extras

• Suggestions for further reading and study
  
• Certificate of attendance

Level: Introductory


Synopsis:
All organisations exist in order to take inputs and add value to those inputs in creating their outputs. Private-sector organisations call this added value 'profit'; public sector or not-for-profit organisations add this value in order to serve society. So how exactly does this 'value-adding'process work? In this course, delegates will learn the basics of value management, including contemporary topics such as value systems and the value chain.Working through casestudy examples, delegates will learn the basics of cost management and pricing in order to fully appreciate the quantitative skills used by accounting professionals in managing value.


At the end of the course participants will be able to: Understand how value is created within and around the organisation . Use basic costing techniques to find the full cost of a product . Use pricing techniques to establish possible selling prices for a product . Understand the basics of value management within the organisation . Identify the value strategies being used by an organisation and how they impact on the value chain . Understand the differences in value creation between a low cost and a differentiation business strategy .


Prerequisites:
Basic numeracy and algebraic skills


Suitable For:
Delegates wishing to understand the basics of how value is created and managed within an organisation


Introduction

• Adding value within a business
• Product costing
• Product pricing

Product costing techniques

• Cost classification
• Cost behaviours
• The problem of overhead cost
• Modern costing techniques - Activity based costing, Lifecycle costing, Full cost accounting

Product pricing techniques

• Product pricing methods
• Cost-based pricing techniques
• Demand-based pricing techniques
• Market-based pricing techniques

Value management

• Value creation and value systems
• Porter's value chain
• Porter's generic strategies and differentiation
• Value management
• Incorporating suppliers and customers into an organisation's value system