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For the financial executive, coming to grips with the challenges of business and profitability have never been greater. Traditional costing systems provide only minimal guidance to the financial and accounting professionals to assist in improving profitability. This course provides a step-by-step approach of how to effectively implement activity-based costing (ABC) to improve profitability by converting existing GAAP statements to ABC statements.
Upon successful completion of this course, participants will be able to:
- Cite the principles of activity-based costing (ABC)
- Identify cost drivers in the business model
- Recognize the link between ABC and lean operations
- Identify how to implement a step-by-step conversion method to convert from standard GAAP statements to ABC systems
- Identify segment profitability
- Identify costs not allocated to any business segment for analysis and review
- Identify the cost of capital and cost gap associated with each business
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