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Management Course

Cost Control

COURSE OBJECTIVES

  • To understand how to solve management problems, using available data.
  • To identify and evaluate where one finds useful data and how to interpret it.
  • To understand the role costs play in determining budget and/or profit.
COSTS AND DECISION MAKING
Upon completion of this unit, each student will be able to:
  • define the meaning of cost
  • list the types of costs and define each
  • separate fixed and variable costs
BUDGETING TO CONTROL COSTS
Upon completion of this unit, each student will be able to:
  • describe the purpose of budget
  • list and describe types of budgets
  • list the advantages and disadvantages of budgets
  • demonstrate how to develop a budget
  • describe the budget fiscal year cycle and steps in development of a budget
PURCHASING, INVENTORYING AND HOW THEY AFFECT COST CONTROL
Upon completion of this unit, each student will be able to:
  • define the role of purchaser
  • list the steps in proper purchasing
  • develop criteria in purveyor selection
  • define "value analysis"
  • describe ordering, receiving, and payments in cost control
  • define and describe what the purchaser needs to know to control costs.
  • list methods of purveyor and other forces
  • identify control and how it affects purchasing
  • demonstrate proper use of inventory control formulas
BEVERAGE COST CONTROL
Upon completion of this unit, each student will be able to:
  • identify the major categories of beverages
  • describe beverage sales mix
  • describe proper beverage purchasing methods
  • list methods of beverage theft and fraud (in cost)
  • list control methods in beverage theft and fraud
LABOR COST CONTROL
Upon completion of this unit, each student will be able to:
  • identify the trends in labor cost control
  • determine the correct procedures in labor cost control
  • identify labor cost %'s, their uses and what expenses are included in labor costs
  • list the problems of productivity and their solutions to control costs
  • define job analysis, job descriptions, and task procedures and how they control costs
  • define and list the basis of standards and categories of labor cost control.
  • define the use of a staffing guide, forecasting, schedules, turnover labor cost analysis in controlling labor costs
  • describe the labor cost formula and apply it
  • describe the turnover cost formula and apply it
MISCELLANEOUS COST CONTROL
Upon completion of this unit, each student will be able to:
  • define direct costs and apply the definitions to real life situations
  • define undisturbed expenses and describe them
  • define ZZB and its applications and uses
  • identify on actual statement analysis and how it works
  • define long term investments and control
  • define and explain asset management (long-term, current)
  • define depreciation and how it applies to inventory and cost

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