The presentation should commence with a discussion based on a series of questions carefully devised by the trainer, for example: This question is a link to Module 1 and offers the opportunity for a few minutes revision of the previous module. It is important that the trainees identify the characteristics and convert them to elements by themselves. As each is identified it could be discussed in detail.
Important Techniques of Cost Control 6.
Cost control is simply the prevention of waste within the existing environment. This environment is made up of agreed operating methods for which standards have been developed.
These standards may be expressed in a variety of ways, from broad budget levels to detailed standard costs. Cost control is the procedure whereby actual results are compared against the standard so that waste can be measured and appropriate action taken to correct the activity.
Cost control is defined as the regulation by executive action of the costs of operating an undertaking. Cost control aims at achieving the target of sales.
Cost control involves setting standards. The firm is expected to adhere to the standards. Deviations of actual performance from the standards are analysed and reported and corrective actions are taken.
Cost control emphasis is on past and present. Cost control is applied to things which have standards. It seeks to attain lowest possible cost under existing conditions.
Cost control is a preventive function. Aspects of Cost Control: Cost control involves the following steps and covers various aspects of management. It has to be brought in the following manner: Initially a plan or set of targets is established in the form of budgets, standards or estimates.
The next step is to communicate the plan to those whose responsibility is to implement the plan.
After the plan is put into action, evaluation of the performance starts. Costs are ascertained and information about achievements is collected and reputed.
The fact that the costs are being reported for evaluating performance acts as a prompting force. Deficiencies are noted and discussion is started to overcome deficiencies. Finally, the reported variances are received.
The management and control of the resources used in most commercial organisations leaves a great deal to be desired.
Waste is growing at such an enormous rate that it has spawned a new industry for recycling and extracting useful materials. Materials are wasted in a number of ways such as effluents, breakage, contamination, inefficient storage, poor workmanship, low quality, pilfering and obsolescence.The Tools & Techniques of Employee Benefit and Retirement Planning, 15th Edition, applies the trusted “Tools & Techniques” approach to this complex area, making it simple for you to confidently guide your clients through even the most complex employee benefit and retirement planning processes.
This summary statement contains the tools from this report (refer to Methods for program planning, implementation and evaluation summary statement for the methods). The approach is based on traditional evaluation methods, empowerment evaluation, results-based accountability and continuous quality improvement.
Principles and Practice of Business Continuity: Tools and Techniques is organized with all the features you need: Each chapter starts with learning objectives and ends with a multiple-choice self-examination covering the main points.
A detailed look at the fast-growing field of Islamic banking and finance. The Art of Islamic Banking and Finance is a modern American take on what it means to incorporate Islamic finance principles into everyday banking and investment techniques by introducing a new brand of banking for all people of all faiths: The Riba-Free (RF) banking.
TECHNIQUES 72 Essential Tools for Success BUSINESS ANALYSIS TECHNIQUES BUSINESS ANALYSIS TECHNIQUES 72 Essential Tools for Success James Cadle, Debra Paul and Paul Turner Business Analysis is the discipline of identifying business needs and formulating workable solutions to business problems.
The. Using agile tools and techniques can help your digital service team to: self-organise and plan; communicate (within the team and with the rest of your organisation).